@chronicreader if he owns 4 rental properties and has a stock portfolio, I am pretty sure he is a millionaire in net worth.which is much better than having a million in the bank not returning any dividends or ROC. Definitely having a diverse portfolio is a foundation to long term wealth. Now buying an occasional luxury item to enjoy and perhaps it retains value (for example a high luxury watch or fine jewelry) in the long run, I feel it’s good
Stages of YTuber 1- buy. Luxury then unboxing 2- achieve milestones follower 3- tell them to slowdown / decluttering / sell to follower 4- become minimalist
I think Irene’s message is actually focused on mindful spending. She used to buy things without much though because value will go up so she’ll get her money back, when in reality that’s most likely not going to be the case. You’re totally right these luxury goods are more like a consumable rather than an increasing value asset!!
I think Eileen's videos are meant to help us prioritize our finance and minimize our buying impulse and FOMO. I've found her videos so helpful when I get wrapped up on wanting to purchase something that's going to put a dent in my bank account.
I was not going to go in debt to buy a bag I could not afford back then. When the classic flap was $3k, I was in college rubbing pennies together for lunch. But I bought my 2.55 this year after their price increase and I was able to buy it with no debt. THAT was the most freeing and wonderful experience to me.
Congratulations on your new 2.55 Jane! You know the 2.55 is my holy grail bag! So I am always so happy when I see or read that other people love the 2.55 too :)
@@SuperDacob Yes! The reissue is my favorite of the Chanel classics. Off topic but, I actually edited my original comment to change Reissue to 2.55. I really appreciate that you use the correct names of these pieces. I cringe a little when I hear or see “Key Cles”.
An investment piece of clothing or accessory means that instead of buying a winter coat every other year, you’d spend a bit more and have a winter coat that would see you through 5 or 6 years. An item of good cut and cloth would wear and wash well, again lasting perhaps 3 or 4 seasons rather than a couple. Those are investment pieces. I think this got ‘lost in translation’ somewhere to justify buying luxury items. Don’t buy anything thinking it will make you money or last forever. Buy it, use it, enjoy it. Love Eileen’s videos as much as yours, Dacob. Thanks for sharing your thoughts with us.
good point. Is it an investment piece thats worth the money and u get a lot of wear out of for your whole life or is it viewed as an investment and u want the same amount of money or more, u paid for when selling it? Some influencers are talking about the first and many about the last. And thats were they go wrong.
Completely and 100% agree. Investment because it lasts forever. I think consumerism and the need to constantly buy new things means this has been forgotten.
Most non-investment pieces last 3-4 seasons easily. The durability difference does not make up for the cost, its just what some people use to rationalize their spending.
@@bordeauxfr1574 I have to disagree, I’ve got some luxury items that my parents brought over 30 years ago. I also hate when people baby luxury, if something of that cost is only lasting you 4 years or less than you are not looking after it well. Edit because I don’t think my initial response made sense: I believe luxury pieces can easily last years and years. Whilst some materials require some care, separately I don’t like it when people feel the need to baby their luxury items to the extend of not using them. Do I believe there are some luxury brands that sell bad quality, 100% and often these are the trend items, but quality luxury will last decades.
I think it started with Birkin's. They are so crazy expensive so people feel better that's it's an investment that will increase in value. That is probably partly why luxury brands like Chanel and LV keep increasing their prices so often.
They become investments at the right time. For things that appreciate in value over time: Investment = passing long periods of time in order too earn true profit. If these items are sold in just a short period of time of owning it, it might not be ripe enough to earn profit.
My mom's a huge collector of luxury goods, anywhere from bags, jewelry home decor, and dishware. She would always tell me that when she passes away, she hopes none of her children will sell her collection as it is a piece of memory of her and also a testament of her hard work. It took her years and I think from her perspective she would hate to see her collection that she worked on for 20+ years be sold in a few months. She's very much connected to these items, she's proud of these items. She always told me, if you buy something nice, never sell it because if you have that mentality, you'll never have anything nice. So for me, I've always looked at these items as items to be enjoyed and link it to milestones or connect it with something in my life to justify the purchase. For example, I finished 3 massive annual reports for work so I bought a bag I've wanted for the past 6 months now. HAHAHA!
I love your mom's mentality on her collection and that's perfectly correct for her but I would never guilt my children into keeping a very large collection of stuff, designer/expensive or not. If they love it, have at it! But if it is not their style, or they live a more simplistic life, or even if they get into money trouble in the future or have some sort of unexpected catastrophic injury and medical bills (the largest reason people go bankrupt in the US), I would not want them hoarding my stuff just because I told them to. I will definitely make sure that my children know the worth of my items so that if they keep them, they will take care of them, but also so that if they need to sell them, they don't do so for $5 during a garage sale. Their memories of me can be anything; a trinket, a picture, the smell of my favorite dessert, seeing a destination I loved, etc. Once I'm gone, though, they are free to do whatever they want to the stuff. I only feel like this because I have a whole heap of stuff from my grandma that I just can't give away because I know it meant something to her, yet it's a bit of a burden to have it. The stuff isn't my style. At all (The jewelry is old fashioned, the furniture is very, very traditional...and it's all just taking up space and not being used). But family guilt and all that...I want to make sure my kids know that they are free to dispose of my possessions because they were mine, not theirs. Take what you want, but leave/sell what you don't. "You don't like the Hermes table settings because you are way less formal than me and have no need for them, please don't feel obligated to keep them. Take 'em to a reputable consigner or sell them yourself for a decent price and move on. Trust me, my spirit does not live in that plate. I promise not to haunt you." Words I will definitely say to my kids one day!
Now your mom has held you to that about not selling. Your siblings may not feel the same way. I’ll be giving my collection with no stipulations. She can do whatever she pleases with it. I’ll be dead lol.
I love Colorful Noir - she is amazing in her take on luxury and minimalism and common sense, she only keeps the best pieces and always looks elegant and on point. I adore her style and mindset
@@michellezabrowsky3592 imagine that in some ppl’s mind less is more and having only a few key prices is refreshing and she does not have to show “something” in each video to have a personal STYLE ? Can you imagine that ? If yes, than relax, if not, also relax.
I want to understand who started this myth? They are an investment piece... for your WARDROBE. I feel the concept is about buying a high quality and beautiful item you don’t just have to junk in a year like fast fashion. They’re not investment as far as selling goes. Even if you could make a lot of money on selling it you have to worry about insurance consignment fees etc. we should just buy what we love and can afford. It’s not about keeping up with the Jonses but enjoying a piece or fashion history and something beautiful and practical. Thank you for this video!
It probably started with Hermes Birkin. Chanel and LV SLGs seem like a good investments. I've looked on preloved sites and they are usually priced higher than RRP. Sometimes even double! I've heard that's because more people have a smaller budget so there are more potential buyers.
Us asians (majority) have an addiction to lux goods. It's a way to show off. But if you ask, they will tell you they have 2k or maybe 10k in savings. To some that may be a lot, but it's not if you consider 6 months of living expenses, emergency fund, that all need to be saved up. We love to show off but have nothing in savings. Our mentality is that we just WORK more to buy more. It's horrible. I'm breaking that cycle in our family tree!
Dacob- I was just about to comment from a finance/accounting perspective early on in the video when you nailed it on the head: bags are not investments!! I get really frustrated and frankly, annoyed when people are constantly saying they "lost" money when they sold a luxury bag. It's a tangible item they paid for. They didn't lose anything. You don't say you lost $200 when you go out for a nice dinner and eat steak and cocktails. You consumed a great meal that derived pleasure. I think of a luxury bag the same way. You purchased something you wanted, used and enjoyed it generating pleasure from it. I think if people are buying things they can't afford or to impress others, that is a whole other issue. If you feel you are "losing" money, you shouldn't be purchasing luxury bags in the first place. Save you hard earned money, eye the luxury bag you want and then buy it and enjoy it! Life's too short.
It's almost hilarious that some people buy expensive bags to look rich, while very rich people treat their expensive bags like dirt. I once saw two teens literally toss their bags overboard - off a yacht - when they discovered that they both had the same one. They don't keep them "in pristine condition" on bedroom shelves, they use them, wear them out, and replace them. They even lose them sometimes, or can't remember which house they left them at. And look at the back rooms of the fancy boutiques. I once wandered into the back of the store because I thought the saleslady wanted to show me something, and there were these six thousand dollar bags stacked one on top of another in plastic wrapping. The bags only get put into dustbags and tissue-cushioned boxes with flowers on them once someone decides to buy them.
@@Rlrlrl1962 well jaime chua was not born rich ..she was a former flight stewardess who happen to meet a billionaire on a flight...and yes most of this women who are get rich will buy a lot of stuff esp. Mistresses (jaime was legal wife)because that the only things they can hold on if the man will leave them..
Taking care of items is a sign of respect for craftsmanship. Those are entitled kids of wealthy who think it’s funny to destroy a bag that took two days to make by hand. They do not respect fashion and it’s history, they just enjoy the idea of luxury.
I do agree people use the word “investment” as an excuse to purchase something. I’m not in the business of selling bags, I’m in the business of buying them and hopefully loving and wearing the crap out of them
My mother had a simple philosophy. She used to buy a lot of Jewellery and gave it to me too. Sometimes, I would lose a earring or ring and get very upset. She would ask me how long I have used it. If I had used it a lot, she told me not to get upset as I had made full use of the item. I have always kept her advice. Whether you sell or use it, don’t expect to get a return.
when I buy A bag, never think of reselling, cuz I have in love with the bag in order for me to spend my money in it. my opinion is matter of mentality.
Oh, Dacob... I am a Hermès lover, but I am loving your videos, they´re so down to earth. We needed these kinds of videos so we can keep in touch with reality. It´s super easy to get carried away when buying luxury items. 💕 I became a huge fan.
I watched her video and yours. Both of you have good points but I think she’s trying to make a point that people should know that buying luxury items like handbags, costume jewelry etc is not an investment and will make a lost frm selling it, just like she lost $10k frm selling hers. She’s also trying to show people that they should consider their lifestyle, financial position & prioritize first before purchasing luxury items. In a way, she’s just trying to advise people to be more mindful in spending their hard earned cash and not repeating her mistakes that’s all 😊
I think Eileen only refers to the “lost money” for the items that you don’t use snd enjoy.... like her Rolex wouldn’t be lost money because she is getting use out of it. Both you and she have excellent videos on an important topic we brush under the rug. Many don’t address the debt that comes with luxury purchases for those who are “trying to keep up with the joneses” etc
Loved this video! Dacob you always offer a different, intelligent perspective to the conversation. I’m a big fan of Colorful Noir but being a Chanel enthusiast, I totally get your point about the luxury item being an object of passion rather than a financial investment. So true that even if you don’t use an item everyday, and the few times a year you bring it out, it gives you so much joy…how can you measure that joy in $? I’ve not had much opportunity to use my Chanel bags during the pandemic, but everyday I put a bag on my desk as I work from home, just so I can look at it and admire it. Having it there in front of me acts as such good distraction from a crappy day at work, and gives me motivation to get on with my job, keep working hard, and save some money to buy my next Chanel bag 😄 What value do you put on that kind of enjoyment and motivation? I know my well used Chanel bag won’t sell for the same price as when I bought it, should I ever want to sell it, but I don’t care, because it’s given me so much joy already. Real financial investments (like stocks and real estate) can offer you security and freedom, but items of passion give you joy and an outlet to express yourself. I’m sure stamp collectors love their stamps, and although some stamps will sell for good money, others won’t. But the collector isn’t lamenting about the resell value of his collection, he’s maintaining and growing his collection because he loves his hobby. This is how I view my much loved handbag collection.
Thank you Jamel. I love the stamp analogy. And I also always have my chanel bag next to me at home... wherever I might be... sitting at a table or on the couch... haha. Makes me super happy, just like a kid with their toys... my bags are my toys :)
@@SuperDacob I wish I could have my beautiful bags and shoes displayed , so I too would be able to enjoy looking at them, but one of my two cats is worse than any dog when it comes to chewing leather ... (crying face)
when I go to my favorite French patisserie shop near my house, I don't consider it as an investment. Luxury bags are in the same category for me, I consume it to enjoy it :)
Finally, someone tells the truth on this topic. The investment thing has always baffled me. MAYBE if you buy Birkins to hold, never use and sell the lot at a Christie’s auction...but that’s not many people.
Oohhh, I SO, SO agree with you! Buy what you love, use and enjoy it. When you no longer feel the joy, sell it and be grateful for what you earn and allow someone else to enjoy it! I buy the bags that make my heart skip a beat, I NEVER buy with thinking about how much I will make at some unknown date down the road.🥰🥰
All that you get as invest when you buy luxury bag is invest in your style:) most all of things are losing 10~20% their price when you cross boutique door :) great video as always ♡
I think if someone is questioning the money spent on the bag/luxury item then they probably shouldn’t buy it, it needs to sit well with you otherwise you can never truely enjoy the item. Thank you for another great video Dacob always enjoy your point of view 😄
Buy luxury because you love it. Invest in an index fund, not a bag. With regard to insurance, most policies will not cover luxury items over a certain cost unless there are addendums for which you pay extra and you submit yearly proof that you still own these items.
I just watched that video a few days ago, so thank you so much for making this video. I never understood how can someone expect to get the same amount of money back when they sell luxury item after they used the item (unless it’s a classic flap that has doubled in price in the past few years 😂). You can’t call it a loss if you used it! Commenting before I enjoy this video!
@@AnnaCN78456 they probably are part of why the second hand market is so booming rn and prices are ridiculous for used items. If Chanel increases their prices or whatever designer house its a brand new item, your items is used and 'older'.
You’re spot on! You buy the item and that’s it! I never think about selling any of my bags(they’re not many but oh so loved💗). Just subbed to your channel Dacob, lovely content 😊
I have always thought the way you think. Are use a bag as long as I’m enjoying it and it makes me feel good, and the more times I wear it the more I feel like I got my moneys worth. I also have a sister and a niece who love bags, and when I get tired of a bag I don’t resell it, I give it to them. The happiness on their face makes me feel like the bag was doubly worth it :-)
We are lucky to be able to resell the bags we own. Once you walk out of the store you can’t expect to get any money back for that bag. Enjoy it while you have it and if you fall out of love with it you can sell it but don’t expect much or anything at all.
I am so glad I dont worry about things like that. I have a few luxury bags and other interesting things....,no regrets, if I want an investment, I will buy a property or something ;-)
Eileen is just being practical and regrets her past shopaholic purchases. Easier said than done, I encourage people to think thru their purchases before buying and do a ton of homework. I am more pragmatic than her. I don't buy a lot and I also don't sell that much.
Luxury goods are always "expenses" never "investments". Buy what you love, that you can afford, and USE the item! No need to justify it or apologize to anyone else by saying its an "investment."
You always bring truth and clarity!!!! Our community needs this video NOW, more than ever! You nailed it! I buy because of the way I feel when wearing the clothes, the jewelry, the shoes, and yes of course the bags. I have sold some bags in the past because my style has changed but now I’m way more intentional. We have to be with the current prices. I now buy to keep, because the inner child in me who always dreamt of owning a Chanel piece is finally living her dream!!! ❤️👏🏻
PS you could lose more than the cost of bags in traditional investments too. And yes i agree as a private citizen ie not a professional reseller, our priorities should be how much enjoyment we gain from our luxury collections, rather than how much we could potentially earn from reselling. having a bunch of leather bags i hate but know will turn a profit on resale doesn't sound like a good use of my money or closet space!
It is like a car: I spend money, I use it, I enjoy it - and I sell it for less. Both are to transport things... with leather and metal hardware. So that is it...
When I first bought my Chanel CF I was like it’s a timeless classic and it’s an investment piece but then I slowly realize in the long run it’s something for me to enjoy and love, it’s MEANT to be used. Otherwise we will go crazy with the term “investment” in the back of our head. Sure I can collect it but weather I use it or not, the value of anything we buy already depreciate in value the minute we buy it. If we want something of a tangible asset that go up in value, real estate is a perfect example.
Eileen is one of a kind. She stands out amongst other You-tubers where everyone does the same contents about un-boxing, talk about Chanel increasing price and chasing Hermès bags… and so on … boring stuffs
Agree! Looking at luxury items as investments - regardless of whether this investment-notion is true or not to begin with - takes so much joy away from the piece…
I really never comment, but i agree w both. Gotta enjoy, these are not investment, its”pleasure “ totally agree. I love my bags and i dont buy much, just one of each in each style(crossbody, hand held, clutch, etc) in mixture of hermes and chanel. and totally satisfied. I just love how i feel when im wearing the bag.
I totally agree with you. It’s a game, not an investment and we are falling for it. These luxury goods are luxury cars which you buy to enjoy driving, not to park in the garage and enjoy looking at it. They depreciate in value because of usage. And only you can put a certain value on your own usage which will vary by individual. I have bought many bags but have not regretted purchasing any of them and only sold one and gave one to my sister.
This was an important discussion and I am happy you picked the topic. I think if we need to calculate the value of our bag purchase, we could do that by, in a way, estimating the cost per wear. And in this situation the term wear would be used loosely. It could be actual times used, or times having felt happy having the item, looking at it, holding it, or whatever added value the item had in your life. The problem I see many people in yt and instagram have is that they start to think selling the bag very soon after buying it, before the item even had a chance to add value. Then you may end up in a cycle of selling and buying and not actually enjoying your bags.
I love Colourful noi's perspective!❤️ Eileen's viewpoints here is being mindful when spending some luxury pieces that you adore.😍 You have sense Dacob it's not an investment at all.It gives us a feeling of joy and happiness of having a luxury pieces that we adore actually.🥰 Keep inspiring Dacob! love you!!!💕
Now I like your video. I always found her messaging a bit confusing, but hard to put my finger around it: you articulated very well. Sometimes I made wrong decision buying something, and get very little use out of the items I purchased - but I always learn from my mistakes. And now I think I am a much better shopper! Hope all of us could have more fun with "luxury goods".
"Investing" in fashion is such an odd idea to me. Only specific items, usually in pristine condition, will keep or increase their value. Besides, if you use the stuff you have gotten some mileage out of them. That's gotta be worth something? ;-)
Core problem is too many people have been pushing this whole bag as an investment thing to justify their purchases and then over-"invest"-ing in luxury goods. The fact that excessive unboxing/ haul videos are so normal now is kinda scary to me. (I do get that there can be a lot of upkeep though: I live in a part of the world that is incredibly hot and humid. I have lost bags to mold before- it doesn't take long for it to completely destroy and it's never the same even after a deep clean at a bag spa)
Well done Sir, as a watch enthusiast “collector” I agree the value is in the luxury of having it and enjoying it, even if it’s on Occasion. If the object retains its “dollar” value through long term price appreciation than that’s the surprise bonus. But buying luxury just on immediate cash return on investment is like you said Its a trap that takes the buying and use enjoyment completely out and your left with a bad choice from the start. Cheers 🥂
Totally agree!!! Use all your items… one day we will be gone and we won’t take nothing with us. I love many luxury items some of them for their quality. But I love wearing them!! My husband always says use it until falls apart 🙌🏻
I buy luxury bag not thinking about ROI (return of investment) . I agree it’s an investment for pleasure, I don’t have regrets in my purchases, I’m accountable with the things I buy nothing less. I purchase them to enjoy them .
I completely agree with you about once you pay for the purse, money is longer a factor for keeping the purse. I don't believe they enshrine the money. Agree 100%
I just started collecting a few Chloe and Fendi bags, sometimes pre-loved. I just like having a better quality purse because I went through too many Target and Vera Bradley bags. That's all that's it. So, when I started tuning in to videos for luxury bags, these ladies seem very off to me. I was really looking for bag upkeep tips, accessory ideas and storage, but usually all I see is the unboxings, complaints about what people in the comments have to say, tears, etc.
Around 33th minute, I resonated with this so much. It's so true, life really is short. Let's learn to enjoy life even more ♥️ Dacob I am so so loving your videos!!
Excellent video. Totally agree. I was thinking a good analogy would be holidays, or vacations as you say in the US! You spend a sum of money to have a great experience. The ‘value’ is the experience. Afterwards you have (hopefully) happy memories. The money has been exchanged for something you really want and really love to remember. Same with a handbag. You have something that possesses qualities you love, and you decide that X amount of money is a fair price for that experience of ownership. It’s a question of what your priorities are, as you rightly say.
First impression if someone talks about investing in luxury... That person cannot afford it. What about the genuine pleasure of owning, wearing a beautifully handcrafted item? The only one jewelry you can invest in are (big) stones and high end jewelry. Not those ready to be used items, even labelled Cartier. Be realistic. Don't focus on unreachable frustrating targets. Enjoy life,who you are and real life. Less social media, less filters. And more life! F@cking reality! People are out of their minds. Poor time. Dacob, don't you think that they only buy To make videos and then get refund or vouchers and go on pretending, posing, posting?..........
@Katrina Sharp IMO, when you're really wealthy (old money), you pay no attention to social media. Or only for PR and charity. The rest needs it for moneymaking or ego purpose.
Brand new subscriber here and I really vibe with you. Great range of topics and you're saying all the things I've been thinking. I can't wait to catch up on all your older videos!
I totally agree Dacob. Make good choices, invest IN YOUR LIFE AND JOY! Life is too short - just be responsible with your money, and then do not worry about it.
Dakob, I have to confess that when I saw Eileen’s video, I though she was right. I looked back on all the luxury items I bought and then let go and felt so bad and thought she was correct, but then I watched your video and you make soooo much sense in your argument! You are right! You don’t buy items to invest, but to enjoy them. If you want to invest, buy Apple or Amazon stocks!! Well done Dakob!!
I completely agree with you Dacob! I think it’s gotten to peoples head about certain luxury items being investments! And let me tell you it’s some influencers who keep saying this🤦🏻♀️ so that’s where the avalanche is coming from🤦🏻♀️
For me, her video made me think about my impulse bag shopping. Because when I do buy a bag, only use it twice, and then sell it for a significantly lower price… that’s obviously a bummer but also a dumb move on my part. I agree with you though, if you wear the bag and love the bag, selling it later on for a little less than what you purchased it for is no big deal! You got the love and enjoyment out of them. I think it’s a balance of buying things to enjoy them but make sure you really want and will hold onto the piece for a while before buying.
I find lots of people are using "investment" as an excuse to buy luxury items rather than accepting that they are buying it because they like it or enjoy whatever status, pleasures they get out of it. It just a way to make them feel better that they are using their money wisely 😂 If I'm that rich person, would I really care about investment a bag? I doubt so.
Firstly, she bought all this stuff, no one forced her to. She then sells them for a considerable loss…which is ALSO her fault. She didn’t HAVE to sell them for a big loss.
Agree with you. These items are not for investment. They are meant to be carried. Hence i find it crazy that majority of people see Chanel bags as investment and with the recent price increase.. people are saying that they are great investments.. 🤦🏻♀️
I think we also forget that investments are a gamble. The market goes up and down for property, homes, stocks and the like. People seem to think that “investment” is guaranteed money.
You gotta think of these luxury items like how you do when buying a car, the moment you drive it off the lot, it depreciates in value. So you buy simply because you love the item and imagine having it for life. Maybe in this day and age ppl think differently but I’ve never bought thinking they are disposable items. And the only time I think of it as an investment is if it went up in value years later due to inflation, then I’ve gained by having purchased earlier for a lesser amount of money.
Just saying about insurance it’s highly unlikely standard home insurance will cover high value items like Chanel need to pay extra to cover things like that.
I love colorful noir and her tips, but I agree 100% with your view; for me luxury pieces are never an investment. They are for enjoyment, ,you use it and love it. That is it. Im still in the process of saving up for my first Chanel classic flap, and understand that once I swipe my card, that money is gone for ever, but my style and enjoyment will get a BIG boost. Its been a dream for years. You should not think about the resale value, you should think if it's right for your lifestyle and if it makes you feel good. That is it.
Well said DioFaerie! Its is all about the pleasure of enjoying these items. Once we start seeing them as investments, the joy is gone... at least for me...
I love Eileen, she’s like my meditation time. Dacob, I totally agree with not considering a luxury item to be an investment. I was in the auction field and so many people had Birkins in the boxes never worn, I assume for this reason. I like to think that if I buy some thing for $300 hopefully I will wear it 300 times at a dollar a day. Rent the runway! It is such a psychological trap, luxury - isn’t it? And I have collected long enough to know what is going to bring me great joy, as you say - priceless!
I LOVE this video! I view it as renting the item and enjoy the heck out of them while I have them. I agree with spreading out the difference (paid vs sell) over the time used or cost per wear.
Too many bags are in circulation and no one will pay full price for a bag you can still buy from Farfetch or the luxury house. Saying something is an investment is a way of convince yourself that the bad decision you are about to make is good, "it's an investment." If you pick the right pieces yes(the right colours), and then if you wait a few years then yes. For example, if you decided to buy a re edition Prada nylon pochette you better work it, 'cause those rarely hold their value, so enjoy it. Too many people are purchasing the latest bags and thinking they're going to turn them over for big money within months. I mean I'm saving tons in the pre-loved market so I cannot complain too loudly. There are so many Chanel bags for presale it is almost sad to see. However, although creating a buzz through influencers has been a great marketing tool for fashion houses it has also shot them right in the foot. These luxury brands are starting to become fast fashion quickly. I miss the old days of supermodels and runways.
I like her videos but after watching a few of them I lost trust in her. She is the one who promotes shopping software and playing Hermes game, that’s how she got her Birkin. Other then that she is a nice lady and got the point
After watching few of her videos I started to think that it’s almost playing a reverse psychology game against the majority of other RU-vidrs … her stories have almost narrative of lecturing what’s right and what wrong and therefore do not have the longevity
Yes I did too. Especially when she said she left her job during the pandemic. No biggie but be honest I’m sure that curtailed your shopping. I’ve caught a few of them not being honest and I move on
Bags are NOT investments. Period. But. Just know that when you’re done with it or changed your mind about a luxury product, you CAN get back some money. I wouldn’t say - loss. But you do get some back and that in itself is consoling to know when I make that purchase
Dacob, bravo to what you said at 22:19👏👏👏 It seems that she bought the most hyped items without thinking about her personal style. Remember years ago "basic b!tch" list was: LV keep all, Ugg boots, Tiffany silver tag bracelet & necklace. Now it's a different list but idea is the same
I follow her, and after seeing your video, I agree with you. I have realized by my own mistakes that luxury items are there for my own satisfaction. I love Versace. Their resale value is not good, but I don't buy them to resell them. I have love for the brand, and for the history of the house. So my money is not locked anywhere. I spent the money to buy them and that's in the past. I am also developing love for some coach bags. The new creative director is doing marvels in the house. Specially when they revived some of their iconic designs from the 80's and 90's. They have better quality than many high end designers, but they do not have a resell value whatsoever. I stopped caring about that long time ago. I buy to enjoy.
100% agree with everything you said, Dacob. You are the voice of reason in the so called luxury community. Please make more videos like this! People need to stop idolising/worshiping bags. It’s insane! 🤦🏼♀️🤦🏼♀️🤦🏼♀️
I just found your channel and find your thinking on this issue really smart. I like Eileen too but when you sell an item at a loss, you are paying for the time you had the item. So that 1k pound loss was the price she paid to use that item for that period of time. I don't see luxury items as a financial investment at all. It's great if you can recoup some of the money when/if you sell, but the main reason to purchase has to be the enjoyment you get from using it. I know I am spending a ridiculous amount of money for luxury items, but it is worth it to me if it adds some kind of (non-monetary) value to my life somehow.
I think the frustration arises with the overconsumption economy. If we think with a more European mindset where you buy a high-end highly crafted product and use it and make it yours, becomes a quintessential part of your wardrobe, then it will always be a good investment. If you buy just to have them in the closet, baby them, and use them as a transactional piece (it will eventually leave the consumer's purchase funnel in a never-ending cycle..) then you are losing...
Dacob, please do a master class on how to purchase timeless Chanel pieces. I’ve made the mistake too many times of getting items that don’t make sense! 🤦🏼♀️
So by this ‘ wasted money ‘ analogy what happened with the money you spent on food you eat? Lol I agree with your thoughts : you get joy and fun out of owning the item .. and unless you’re happy with this you shouldn’t be purchasing luxury items . Just like with all investments sometimes you gain and sometimes you lose .
My husband is a property adjuster (insurance). He said you can do an endorsement for scheduled items such as a ring or bag for insurance coverage incase it gets lost stolen or destroyed outside the home. Some times there is a coverage limit or depreciation is applied so doing a scheduled item would allow for complete replacement and appreciation over time. Hope this helps.
An additional thought… just like concert ticket scalpers, if the lux companies see that people are willing to consume product at a premium over retail they are going to try to command that same price. The people buying over retail are really in my mind the ones who are inspiring them to raise to ridiculous levels. Also, if they are trying to build their brand as aspirational but every 20-30 year old on YT has one I think that pushes them to try to be more exclusive… And to the commenter who was going to hold onto a bag for 20 years as an investment what is the guarantee that fashion tastes won’t have completely changed by then and the value will have decreased?
