source from 15/03/2022 Niewsblad Press A Vintage Handbag is worth money It started with a fascination with the history of the leather goods company Delvaux. This quickly led to the purchase of one vintage handbag, then another and another. In the meantime, Brussels couple Grace and Jerry have collected around 150 different models, which they partially offer for sale through their website. This is how a vintage handbag remained a smart investment. ~CHRISTINE DE HERDT AND AMAURY MICHAUX~ Three years ago, they found a book in a Brussels bookshop about the then 180th anniversary of the leather goods maison Delvaux. "The story of the origins of this Belgian luxury handbag company fascinated me and my wife Grace," says Jerry, a German businessman who has lived in Brussels for 20 years. "The brand's history, acquired last year by Swiss company Richemont, dates back almost 200 years, but their designs have always continued to evolve” Shortly after the couple purchases its first iconic handbag – a Brillant – created for the world expo of 1958 and still one of the flagship and most popular models of the Maison Delvaux. “It was a Brillant Diamond Rose” of 1960.” In the meantime Jerry & Grace have collected around 150 pieces, which they keep with care in storage. Initially this was just a hobby, but now the couple has also started selling vintage Delvaux through their website www.mydaydaybelgium.com. “The interest was so great in these bags, that we trying to built a business model around it”, clarifies Jerry. But why is the demand increasing? "Firstly, because vintage has become a new & younger generation of luxury and fashion enthusiasts, who want to consume sustainably and oppose fast fashion. Produce a lot, buy a lot, and throw away a lot: this is bad for the planet," says Elien Migalski, a specialist in the sale of secondhand handbags and accessories. This ecological awareness is also causing a boom of the vintage market. According to the recent research of American marketing consultancy Bain & Company, the preloved segment—a fancy term for second-hand—was worth €33 billion in sales in 2021, which represents a 65% growth vs 2017. Boston Consulting estimates the sector's annual growth at 12%. 18 Percent more expensive "At the same time, prices in the "first-hand" luxury segment are constantly rising, which in turn impacts the vintage market”, says Migalski. Louis Vuitton announced last month that it would implement a substantial price increase. Handbags and accessories will soon be 18% more expensive, according to calculations by PurseBop. Hermès also adjusted its price tags.  Chanel even implemented two price changes in two weeks, says Elien Migalski. "They raised prices for the first time two weeks ago. A Chanel Flap Bag cost €7,800 then, now €8,250." The reason? The costs for materials, production, and transport have risen, partly due to the coronavirus pandemic, and these are being passed on twice as much to the end user. The vintage luxury market is benefiting from this where prices are also skyrocketing. "Old designer bags have become an excellent investment,"says Migalski. Prices doubled in five years and vintage handbags are increasing in value year after year. These three designer bags are doing especially well: Hermes Birking & Kelly, Chanel Classic Flap bag, Delvaux Le Brillant.
