In a crisis, people look towards tangible safe haven investments, Knight Frank Luxury Investment Index shows Hermès handbags continued to outperform most asset classes
The post Hermès handbags was 2019’s top performing alternative asset class appeared first on LUXUO.

 

Knight Frank has been doing the wealth report for 14 years now and when the consultancy realised that clients didn?t just want to hear about property insights, they took a quantitative look at their aspirations. Noticing the rising trend of investments of passion (classic cars, art, fine wine, watches, Hermes bags, etc), Knight Frank introduced Hermès handbags into the Luxury Investment Index (KFLII) in 2019. With 13% annual growth, Hermès handbags were the year?s top performing asset class. According to Rachel Koffsky, head of handbag sales at Christie?s, the market began in 2011 and in just under 10 years, has gone from emerging to a mature market. The auction house began with  a series of Elizabeth Taylor auctions that really celebrated the Hollywood diva?s collectible passions, among them – Hermès handbags; and this was one of the first forays that Christie’s had into the online auction market space, and her handbags captured such an intense level of interest from collectors and new clients at Christie’s that the auction house really saw the opportunity to expand this department and so in 2012, online handbag auctions became a regular feature at Christie’s.

Hermè...