About this event
The panelist:
- Meg Randell- UK and European Head of Department- Designer Handbags and Fashion- Bonhams
The session was moderated by Frankie Smith and Hosted at Allbright.
Some of the key takeaways were:
Meg Randell went from a History of Art degree to leading Bonhams' Luxury Handbag & Fashion department in 2020, excelling in vintage fashion, jewelry, and wine auctions.
💼 Auction Insights: What Makes a Bag Valuable? Authenticity and condition are essential. With high-quality fakes increasing, multiple checks are vital. Handmade bags have unique imperfections, unlike the too-perfect machine-made ones.
💻 Tech & Trends: Embracing the Digital Era COVID-19 moved auctions online, increasing audiences and sales. Chanel's frequent price hikes make the secondary market lucrative, often matching or exceeding retail prices.
👜 Handbags as Investments: More Than Fashion Brands like Hermès, especially the Birkin, retain value well. Invest for enjoyment first, with profit as a bonus. Classic styles and shapes perform best—consider this when investing. Remember to factor in VAT.
Clients should diversify portfolios and enjoy their wealth. Save for the future, but enjoy the journey! ✨
