Investment Shopping! Explore Your Closet & Gather Up Your Goods for Maximum Money!
It’s the end of summer and I am officially cleaning out my closet. (See some tips here on the best way to approach this daunting task). I'm ready to make some cash and I have a few piles going on. I have the “friends pile”, “trash it pile” and the “Michael's pile”. I always contemplate the value of items first. My mother always told me, “If you buy something good, it will last a lifetime.” Over the years I have hoarded items that I think are truly gems to the fashion world. Much to my surprise, I have tried to consign them, only to be told that some brands just don't hold their value as well as others. Season after season new “it” brands emerge. And season after season, we drop major dollars and hold on to these new coveted items for dear life because we believe that one day they’ll be collectors items, right? Not even! Not all brands are timeless classics, not all brands are highly coveted for all eternity and not all brands can bridge the gap between millennials, gen x’ers and baby boomers. Read on and you’re officially going to get the inside scoop. Often these timeless pieces are a huge investment upfront but you’ll certainly get a great return in the end! Here are 5 brands you should invest in and consider consigning if you find you'd like to free up cash to shop for something else. As we say here at Michael's... SHOP. CONSIGN. REPEAT!
Every time we pop into the Chanel boutique the prices seem to be on the rise! Chanel’s Classic Medium Flap Bag in black lambskin increased by 40 percent in five years from $2,850 in 2010 to $4,900 in 2015. Now is an ideal time to purchase one of these diamonds as an investment or CONSIGN and make room for new styles. Let’s face it, you can never lose with the interlocking CC’s. Just check out our blog post on “Why We Love Coco”. You’ll get some serious cash once your item sells as these classics fetch super close to retail.
Check out some of our best Chanel!
Chanel Coral Lambskin Gold Hardware Bag Retail Price: $4,900 Michael's Price: $4,370 11% OFF
Chanel Midnight Navy Metallic Quilted Leather Silver Chain Bag Michael's Price: $4,000
Chanel Black Leather "Reissue Accordion Bag" Michael's Price: $2,900
One of the most solid investments around, Hermes is the most coveted amongst the rich & famous. From scarves and watches to those Birkin and Kelly bags, Hermes stands the test of time, bridges all sorts of age categories and pretty much dictates how luxury should be made. Hermes bags hold up to unique investments like gold, silver and the stock market. Check these stats! A standard Kelly bag could have been purchased in 1950 for $900. By 1960 the same bag cost $1,300, by 1970 it was $2,450, 1980 we saw it sell for $4,000, 1990 for $5,100, and at the turn of the century it cost $7,400. Today, that exact bag has increased in value to $9,250 and more depending on the materials used and the rarity of the item! The same increase is seen with Birkin bags with a standard Birkin setting customers back $2,000 in 1980, $2,750 in 1990, $4,000 at the turn of the century, and today sells for between $14,000 and $120,000! Better get on that waitlist now ladies (or shhh… don’t tell your friends, but Michael’s has some available, so run!)
Find Hermes here!
Hermes Tan Leather Silk Scarf Detail Bucket Bag Michael's price: $1,750
Hermes 35cm Birkin Black Togo Leather Gold Hardware Bag Michael's Price: $14,175
Hermes Kelly Bag 35cm Tan Leather w/ Lock and key w/ out Strap Michael's Price: $9,000
Hermes Garden Party Taupe Wool Brown Leather Bag Retail Price: $5,000 Michael's Price: $2,875
Spiked, chained or just that gorgeous smooth leather – we can’t get enough. They make us feel modelesque, glamorous and literally sky high! The red sole has become a stamp of luxury and status. They are perfect for consigning because we’ll instantly know you have great taste. Gather up your goods and bring them in, you know you need room for this seasons styles. Plus red bottoms never need an introduction!
Shop these Louboutin looks here!
Christian Louboutin Black Leather Shoes Sz 36.5 Michael's Price: $290
Christian Louboutin Charcoal Flannel Spikes Shoes Sz 40 Michael's Price: $800
Christian Louboutin Green Beige 160 Python Platform Shoes Sz 40 Retail Price: $2,000 Michael's Price: $1,380 31% OFF
Christian Louboutin Asteroid Black Patent Leather Spiked Pumps Sz 40.5 Retail Price: $1,220 Michael's Price: $575 53% OFF
Rolex/High end Watches
Did you know that watches are a great investment? High-end luxury watches sell very well in the secondary market. It's no surprise that one brand, over all others, shines brightest. That brand is Rolex! One big reason why... the classic line of watches and adorning crown literally make us feel like royalty. Rolex has spent decades creating a brand that screams success and luxury—it also happens to be killer arm candy that goes with any outfit anywhere! A newly shined, luxury watch kicks any outfit up-a-notch! So sell off that investment, it’s ready to see the world and not the inside of a safe!
Shop all of our luxury watches now!
Michele Pink Stainless Steel Diamond Watch Retail Price: $1,995 Michael's Price: $1,030 48% OFF
Gucci Blue Strap Silver Case Watch Michael's Price: $320
Chanel J12 White Ceramic Gold Trim Watch Michael's Price: $5,000
Gucci Black Crocodile Stainless Steel Watch Michael's Price: $225
We love us some Louis. We refer to this brand as if it was our current lover that we are casually meeting for cocktails later. In the luxury handbag market these chocolate bags are generally affordable and retain their price tag even after being worn and worn and worn. Practically indestructible, from the monogram classics to the ultra exclusives seasonal collaborations; it’s no wonder that you can sometimes get up to 85% of the retail value for these classics!
Love our Louis here!
Louis Vuitton "Alma MM" Brown Tan Monogram Leather Bag Michael's Price: $1,700
Louis Vuitton Trompe L'oeil Pochette Yellow Brown Monogram Velvet Bag Retail price: $1,460 Michael's Price: $800 45% OFF
Lopuis Vuitton Black EPI Leather Bag Michael's Price: $570
Louis Vuitton Brown Tan Canvas Leather Canvas Wallet