'It' bags are the classic cars of the fashion set.

 

Handbags are the new shoes, the must-have "it" accessory that has all the fashionistas clamoring for the latest offering from popular designers. It's also a market that has more in common with the male-dominated world of classic cars than you'd realize. 
Few of you will have missed the fuss a couple of months ago when Sainsbury's sold 20,000 "I'm not a plastic bag" Anya Hind-march totes for [pound]5 each. Within hours, those same unbleached cotton bags were selling for in excess of [pound]150 on eBay. "Every girl has a handbag," says Christie's specialist Monica Turcich, "and every girl wants one. Women today desire the coveted 'it' bag, the one that no one else is carrying. They've always been popular, and they are the section of our 20th-century fashion sales for which we get the most phone calls, but now they are doing particularly well because everyone wants handbags, whereas 10 years ago there weren't the 'it' bags like we have today, simply the classics." 
Like cars, most of the more recent designer handbags that sell through dealers and auction houses make significantly less than their original retail price, losing value the second the initial purchase has taken place. That is excellent news for both collector investors and handbag enthusiasts, but there are some exceptions to the rule. 
Christie's sold a red Hermes crocodile skin Kelly bag, originally a bespoke product, for [pound]10,800 last March. The Kelly bag is the "holy grail" of the classic handbag world, according to Turcich. "What's popular now drives Chloe and other more contemporary bags, but Hermes and Chanel's quilted bags are timeless classics that are always in style." You can purchase Kelly bags for [pound]600, and they often sell for [pound]1,000-[pound]2,000, a reasonable price for a bag from the 1960s.
Undoubtedly, most people purchase handbags for their own use, unlike other collectables like Paul Smith, Abercrombie, Fitch, Dsquared, etc., but there are similarities to the car market. By buying a classic bag and looking after it, you are unlikely to lose money, but rather see a steady gain with the added return of enjoying using it. 
Hindmarch's "I'm not a plastic bag" bags are unlikely to make it to "classic" status; they are after all mass-produced cotton totes, but other handbags from her range might well do so. So far, Christie's hasn't sold any Hindmarch bags, but Turcich says she wouldn't be surprised if they started showing up at auction soon, and she wouldn't turn them away. "Kylie Minogue's photo carrying a Chloe bracelet bag around a few years ago sparked fashion, and now we are selling the same thing at auction."
The next auction features a pristine handbag with an estimated value of [pound]800 to [pound]1,000, which is part of the same lot. "I think Chloe has started the 'it' bag scene," adds Turcich. "I don't know how long it will take for them to become classics of their own, but I'm sure these will hold their value in five or 10 years' time. People seem to have overlooked the fact that handbags have become the new shoes in recent years; however, there is now an appreciation for the intricate design that goes into them. There are shoe designers who are also artists, and the same is true for handbags.
It's not always about big names; a few weeks ago, Ms. Minogue was at the shop of Tony Durante, a handbag dealer at Alfie's in London, and purchased a white raffia bag with a horse's head on the front for around [pound] 200. Brightly colored raffia bags are currently popular due to the summer season. Durante says that Kylie loved this particular bag because it was unusual. Buying it from a vintage fashion dealer, she's unlikely to bump into another celebrity carrying one. Durante asserts that his customers seek this element of "unusualness".
If you do want to retain the value in your handbag, then you should go for one that is in excellent condition, has a good design, and is beautiful. Some "it" bags will undoubtedly go down in value as fashions change, but the classics should stay steady.

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