by admin | February 23, 2015 12:26 pm
When it comes to buying luxury items, the payoff is often just the rush of a shopping trip, but there may be more to your spending spree than simply the thrill of the buy. Nicole Lapin, author of Rich Bitch: A Simple 12-Step Plan to Decode Financial Jargon and Have the Life You Want, explains:“Luxury goods can be a sound investment, like stocks or bonds. But if you buy wisely, you can enjoy the item while you have it and have the piece of mind that it will retain value if you ever need to sell it. It’s a win-win.”
Here, the financial pro suggests a few places to start.
Purchases that hold their value or increase in value over time, even with use: An Hermès Birkin bag, Chanel jewelry, a Burberry trench coat, an Alexander McQueen opera coat and a Patek Philippe watch.
Purchases that you can’t “use” but are good alternative investments (and make for engaging hobbies on the side): Fine wine, sports memorabilia, celebrity memorabilia, coins, racehorses, truffles, rare flowers, gold jewelry and classic cars.
Brands that retain their value over time: Chanel, Louis Vuitton, Hermès, Christian Louboutin, Cartier, Alaïa and Van Cleef & Arpels.
Surprisingly young brands that resale for very close to their original value: Victoria Beckham, Charlotte Olympia and Alexander McQueen.
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