Style Never Goes Out of Fashion: Is Yours Insured?

Limited editions, designer collaborations, and vintage items often yield substantial financial returns over a period of just a few years, with designer handbags, and vintage dresses, jeans, and trainers exchanging hands for thousands and even millions of pounds. So, before you clear out your closet, stop and consider… could your trainers circa 1994 now be worth more than you thought?

“Life is Short; Buy the Bag” | Designer Handbags

Limited editions and rare models such as the Hermès Birkin bag drive prices up, creating waiting lists as long as your arm. Other coveted brands such as Louis Vuitton, Gucci, Dior, Mulberry, and Chanel dominate the market, with models such as Chanel’s Classic Double Flap and the Louis Vuitton Neverfull now commanding high prices. When Chanel’s Double Flap bag was first introduced in 1983 it retailed for around $1,000 (approximately £2,350 current value).¹  Now however, the same pre-loved bag sells for £3,000 to £6,000.² Louis Vuitton’s Neverfull made its market debut in 2007 retailing at around £1,000 ³ but today, some pre-loved Neverfull bags featuring the iconic LV monogram are priced at just under £3,000.⁴

Insuring handbags as part of your contents cover is a wise financial decision for those with valuable collections or high-end designer items. Make sure you have accounted for it within your sums insured and ask yourself, has yours gone up in value? Would it cost more to replace now than it would to buy, like some luxury watches? Having a professional valuation and the appropriate insurance in place can safeguard against you losing money should your high-value bag get stolen, lost, or damaged.

A Good Year | Vintage clothing

The term “vintage” usually applies to clothing and accessories made before 1979.⁵ Expensive vintage clothing by designers such as Ossie Clark has surged in popularity, driven by nostalgia and sustainability trends. Celebrities wearing vintage couture on social media and at high-profile events fuel the movement. Clothes made in the first half of the 20^th century by fashion houses Christian Dior, Balenciaga, and Gucci are also hugely popular.

Ossie Clark dresses, with their floating, ethereal look, make them popular with models and celebrities such as Kate Moss and Ayda Field Williams. They now sell for around £1,000 to £2,000, and vintage Chanel suits can be found for sale on designer retail online retailers for £3,000 to £4,500.⁶ Raid your mother’s or your granny’s wardrobe, and you might have a collection worth around £10,000 in a matter of minutes. What’s more, you can wear your investment!

Desirable Denim | Vintage Jeans

Vintage Levi’s 501s are hugely collectable, especially among Japanese buyers, with some older and rarer editions exchanging hands for thousands of pounds. In fact, a pair of Levi’s said to be the oldest pair in existence (although Levi’s the company have not officially confirmed) sold at a US vintage clothing auction in October 2023 for $100,000 (approximately £79,000) to an anonymous bidder.⁷

‘Just do it’ | Vintage Trainers

Vintage trainers have surged in popularity, with the 2023 global market value reaching $2.3 billion (around £1,811,641,000), and a projected growth value of 9.4% to $4.3 billion (£3,386,981,000) by 2030.⁸ The thrill of hunting for rare finds and exclusive designs continue to drive the appeal of vintage footwear.

If a pair of trainers is only available in reduced numbers, a limited edition, or part of a collaboration with another designer or celebrity, it could be worth buying as a potential investment in later years. Certain brands such as Nike Air Jordan hold their resale value well, depending on the condition and style of the trainer, with online sites such as eBay listing models such as the Nike Air Jordan 1 1994 for around £3,000. Even Air Jordans made circa 2000 can be worth between £200 to £500.⁹

If you own around twenty pairs of trainers which you bought in your twenties in the 1990s and turn of the Millenium, and they are now worth on average, £300 each, you have a collection that would be valued for at least £6,000.

Protecting Your Vintage Items

Insuring designer vintage clothing and footwear is crucial, as individual pieces and collections often hold cultural and historical significance, as well as aesthetic value. Unlike contemporary clothing, vintage items may be irreplaceable, making them susceptible to loss, damage, or theft. Insurance safeguards against financial loss in the event of unforeseen circumstances, providing peace of mind to collectors and enthusiasts. Moreover, as the market for designer vintage clothing continues to thrive, insuring your items protects your investment and preserves their legacy for future generations.

If you own a new designer collection or designer vintage items, we can search the market and provide you with specialist home and contents insurance designed to protect your assets properly.  To discuss your requirements, contact Miles Brown, our specialist insurance broker.

To discuss insurance for your artworks, contact us today.

Alternatively, email:

m.brown@lloydwhyte.com

What matters to you, matters to us

1. https://www.lifestyleasia.com/kl/style/fashion/investment-bags-to-add-to-your-portfolio-that-actually-increase-in-value-over-time/
2. https://www.handbagclinic.co.uk/chanel
3. https://www.lifestyleasia.com/kl/style/fashion/investment-bags-to-add-to-your-portfolio-that-actually-increase-in-value-over-time/
4. https://www.vestiairecollective.com/women-bags/
5. https://www.denverpost.com/2023/10/02/oldest-levis-jeans-sells-durango-vintage-festivus/
6. https://www.1stdibs.com/creators/ossie-clark/
7. https://www.denverpost.com/2023/10/02/oldest-levis-jeans-sells-durango-vintage-festivus/
8. https://www.globenewswire.com/news-release/2024/01/24/2815892/0/en/Refurbished-Sneaker-Market-to-Surge-at-9-4-CAGR-Reaching-US-4-3-Billion-by-2030-Persistence-Market-Research.html
9. https://www.ebay.co.uk/sch/i.html?_from=R40&_trksid=p4439441.m570.l1313&_nkw=vintage+air+jordans&_sacat=0

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