Jeff Breault Talks About Luxury: Are Luxury Items Good Investments?
Hello, Jeff Breault here. Today, we’re going to talk about luxury.
Now, we all have that one friend or family member who likes to buy brand name luxury goods, jewelry, or even properties like yachts and mansions. These items were purchased with the hopes that they will be more valuable in the future. It has gotten so common that one of the things I commonly hear from my clients is this: "Jeff Breault, are luxury items good investments?”
Unfortunately, the answer to this is that it depends. Some items increase their worth through the years, but other luxury goods are only expensive once. If your purchase becomes cheaper over time, then you would have brought it for nothing.
Here are some things that do keep their value.
• A luxury watch – Luxury timepieces typically accrue value over time. An investment watch is common among the luxury-loving investors who know that they high-value watches which may set you back tens of thousands of dollars, but would retain value over time.
• Classic handbags – Some classic couture pieces don’t actually go out of style. It’s a matter of knowing which ones are most valuable. I, Jeff Breault believes in knowing the distinction of what is high value to what would not be later on. For example, a classic handbag from Chanel may cost just over a thousand dollars now, but that same bag would retail for four times the amount later on.
• Precious stones – Jewels, like diamonds, emeralds, rubies, and others, retain their market value over time. This is usually the reason so many people invest in jewelry and pieces—they know that time will allow them to retain their value.
Of course, there may be more things that keep their value over time. The idea is to do your research and see how much a vintage version of the item is, to get an idea of its resell value.
Next month, I’m going to talk about purchases that would lose their value through the years. Till next time!
Unfortunately, the answer to this is that it depends. Some items increase their worth through the years, but other luxury goods are only expensive once. If your purchase becomes cheaper over time, then you would have brought it for nothing.
Here are some things that do keep their value.
• A luxury watch – Luxury timepieces typically accrue value over time. An investment watch is common among the luxury-loving investors who know that they high-value watches which may set you back tens of thousands of dollars, but would retain value over time.
• Classic handbags – Some classic couture pieces don’t actually go out of style. It’s a matter of knowing which ones are most valuable. I, Jeff Breault believes in knowing the distinction of what is high value to what would not be later on. For example, a classic handbag from Chanel may cost just over a thousand dollars now, but that same bag would retail for four times the amount later on.
• Precious stones – Jewels, like diamonds, emeralds, rubies, and others, retain their market value over time. This is usually the reason so many people invest in jewelry and pieces—they know that time will allow them to retain their value.
Of course, there may be more things that keep their value over time. The idea is to do your research and see how much a vintage version of the item is, to get an idea of its resell value.
Next month, I’m going to talk about purchases that would lose their value through the years. Till next time!
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