Women are dishing out thousands and thousands of dollars for designer handbags these days.
Experts say sales of luxury goods are on the rise. Heritage Auctions is a Dallas-based company and their Luxury Accessories Auction will take place in New York City later this month. They’re previewing the show is hot cities across the country. Dallas was the first stop. They say it’s a major market for the luxury items you’re about to see.
Hermes, Chanel, and Louis Vuitton this luxury accessories auction has them all.
“We try to focus on major collectible pieces,” said Heritage Auctions Luxury Accessories Director Matthew Rubinger.
600 highly sought after pieces up for grabs.
“This is from the collection of Kelly Rutherford who stars in Gossip Girl. Who is famous for having a great Hermes collection and she`s actually carried this bag on the show,” said Heritage Auctions Luxury Accessories Director Matthew Rubinger.
Of course there are bags, but there are also bikes.
“This was an extremely limited addition piece that Chanel made in 2005. They only made 50 of them. They all sold out immediately,” said Rubinger.
Rubinger says the goods come from private collectors all over the world.
'It`s people that have huge collections of bags that sometimes when they get one or two this season, they`re moving out one or two,” said Rubinger.
People like Dallas' own Ginny Lynn Bond.
“I love Hermes handbags of course and I have several. I`m lucky,” said auction customer Ginny Lynn Bond.
Many are made of the finest, most exclusive skins on the planet. The reason many women say they can't resist.
“When he brings home the bacon, you go get the Birkin,” said Bond.
But Rubinger insists the auction items come at all price points.
“We have probably 50 Hermes scarfs that all open at a dollar,” said Rubinger.
But are they really a good investment? Some experts aren't so sure.
“I would only advise them to buy something like that if they truly liked the product and were proud to own it and excited to own it , but never primarily for the fact that it`s go up in value,” said Hodges Capital Financial Strategist Clark Hodges.
But Rubinger begs to differ. He says these bags surely can give you bang for your buck.
“Do I think you should drain your college fund and spend it on Birkin on bags - probably not. But they do hold their value,” he said.
In case you’re curious, Heritage Auctions takes a 15% fee from the seller of an item.
The luxury auction is on April 29, in NYC. It’s also available online.
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