The wealthy frequently purchase pricey items. Never brag about how much money you’ve made; always invest in something that lasts or sparks a discussion instead.
It is a reality that if someone has the money, they will prioritize buying expensive, branded items. There are items that are considered “investment pieces,” such as expensive clothing, jewelry, watches, or works of art. Given the attention they receive and the potential for future profit, they are referred to as investment pieces.
Even then, there are advantages and disadvantages to purchasing them. If investing in watches or pricey handbags rather than mutual funds or stocks has crossed your mind, you need to understand what you’re getting into and whether the cost is justified.
What items should you be keeping an eye out for on the racks? To learn about their personal best investment buys, we contacted a few stylists. Look over their selections below and get ready to make notes.
List of Investment Pieces you must have
- A Black Blazer
- Vintage jeans
- A Trench Coat
- An Occasion Gown
- Summer Sandals
- A leather jacket
- A pair of sunglasses
- A classic belt
- A cashmere sweater
- White sneakers
- The luggage
- The casual shirt
- The understated sneakers
- A pair of walkable booties
- Wallet
- Pump Heels
Should be Like This
Our shopping habits are shifting. Given the status of the economy right now, we are paying closer attention to where we spend our hard-earned money and what we purchase. In other words, there must be a return on investment. This return may be monetary through the potential for resale or it may be emotional due to the happiness it offers you. Its continued relevance from season to season could demonstrate its enduring appeal in terms of fashion. And based on your budget, this may be anything from a Rolex to a timeless shift dress.
Who better to consult than professionals from two big resale companies to choose the best purchases of the moment? Since they have closely followed the fashion and resale industries for a long time, Sophie Hersan, fashion director and co-founder of Vestiaire Collective, and Noelle Sciacca, the women’s editorial lead for The RealReal, are a mine of knowledge.
They not only understand the ephemeral nature of trends and the necessity of investing in your own pieces—caring for them to eliminate wear—but also know which goods have the most resale potential. And while it is true that well-known brands like Gucci, Hermès, and others consistently perform well, more approachable brands like Ganni and Paris Texas are also starting to make a name for themselves.
Please read: Best Investment for OFWs
Benefits
In the case of some items, like art, investment pieces have a specific prestige all on their own. No matter how prolific the artist of your choice is, there is no assurance that their work will hold value over time. Finding a work of art that you like and can afford may be the most important consideration when making an investment in it.
Purchasing movie posters is one instance of making an investment in art. You may satisfy your movie nerd while also displaying a piece of cinematic history in your living space. Just to give you an idea, a poster from the science fiction classic Metropolis is reputedly worth $47,000.
Investment pieces in fashion are undeniably fashionable, can complete a wardrobe, and may provide some revenue when you resale them. Rati Levesque, the chief merchant of the upscale consignment site The RealReal, asserts that when purchasing in clothing, “it’s all about the things that are most emblematic to that brand.” Your greatest odds for a return on investment are waitlisted or limited edition items.
Since they hold up better to wear than clothing, accessories can offer an even larger return on investment. With proper care, watches can last for many generations. Purchasing a well-made watch, such as a TAG Heuer Monaco or a Rolex Daytona, requires some research and is enjoyable. That $1,500 watch might be resold for $3,000 in two years if you play your cards well.
And yes, the Chanel purse might make a smart investment as well; however, in order to profit, you must seek out limited editions like the 2.55. Since Louboutins routinely attract the highest ROIs in the shoe category, even shoes could be an investment.
Drawbacks
The future worth of products like these is difficult to forecast. In order to ensure that the item you buy appreciates over time, if you ever decide to sell it, according to Watchfinder creator Lloyd Amsdon, you need to be a trendspotter.
Investing in art is equally challenging. It’s a risky investment because you can’t simply convert it to cash if the need arises, and there’s a chance that it won’t perform well, which could lead to a decline in value.
Before you make the final purchase, give these things a lot of consideration and money. You should be aware that by investing in these, you’ll be losing out on tens of thousands of pesos that you could be used to purchase equities or other investments that are more liquid and profitable.
Conclusion
Although investment pieces may initially cost more, they should end up saving you money. Better materials, a better design, or whatever X factor makes it something you enjoy wearing so much that you quit shopping to replace it every year should be covered by your larger lump payment, ideally.
The quality, versatility, and timelessness of an investment piece should reduce its price to pennies per wear, preventing waste in your closet and landfills.
At the end of the day, investment pieces are something you buy for yourself as compensation for working so hard to achieve where you are. A little study and working within your budget are needed to choose the correct item.
You might not earn the highest return on investment (ROI) if you decide to part with it someday, but you can say that you had something nice for a while.
