Whether it s down to pandemic induced nostalgia or ever growing environmental concerns, there s undoubtedly been a vintage resurgence of late. And that s particularly the case when it comes to vintage handbags, which are soaring in popularity among millennial and Gen Z consumers right now.
In fact, The RealReal s 2021 Luxury Resale Report has found that vintage bags are actually performing better on the resale market compared to their modern day counterparts. The average sale price of a vintage Gucci Jackie bag ? named after its biggest fan, Jackie Kennedy ? has gone up by 101 per cent to $480 (£349), while the average sale price of a Louis Vuitton Speedy 30 has risen by a quarter to $739 (£537) since 2019.
It s no surprise that timeless classics such as the Chanel Flap bag are still in high demand (in fact, vintage obsessive Rihanna recently invested in a pre loved version), with its average sale price up by 54 per cent to $4,503 (£3,270) since 2019. Hermès also remains a safe bet, with vintage Constance bags now averaging a resale value of $6,917 (£5,023). Meanwhile, the Birkin and Mini Kelly II ? whether vintage or new ? fetch substantially more on the resale market compared to their RRPs.
We ve seen younger generations embrace luxury like never before ? they have been quick to adopt luxury as a new form of investment, understanding that luxury goods can yield high returns, Sasha Skoda, head of women s at The RealReal, tells British Vogue.
The popularity of the vintage Jackie may well be down to Gucci reissuing it for autumn/winter 2020 ? so expect a rush on preloved Gucci Diana bags in the coming months, after the Italian fashion house brought back the 1990s classic popularised by Princess Diana in July. When an iconic style is reissued, there is a parallel increased demand for its vintage counterparts, Skoda explains. Our shoppers are still wanting to be trendy, but on their own terms.
All this shows that vintage is not only the more eco friendly option, but also a safe investment too. We re seeing a proven ability to retain value across multiple styles, Skoda concludes. Vintage handbags have become their own unique market; we know the demand is fuelled by a desire for uniqueness and something special.