Handbags has dethroned rare whiskey as the top luxury investment, according to Knight Frank Luxury Investment Index.
Handbags rose in value by 13 percent over the last 12 months, while whiskey was at 5 percent. Experts said demand for hard-to-find Hermes Birkin pieces coming to the market was the main reason for last year’s bags boom. Birkin bags increased 13 percent in value in 2019, according to the report.
Part of the reason for Birkin bags’ escalating values is their limited supply and exclusivity, resulting in waitlists and sometimes yearlong waits. Buyers can spend $12,000 to more than $200,000. The Birkin bag’s value has increased by 500 percent in the last 35 years.
The most expensive handbag ever sold was a white Himalaya crocodile d