At R8.5m, this handbag is considered by some to be a better investment than gold
R8.5 million for a bag?
Hermès Birkin bag. Photo: Twitter @Blakeir
When it comes to gifting your special significant other, some would like a favourite item, designer bags or jewellery, or just hard cash.
This was the topic on social media after many noticed the infamous designer bag Hermès Birkins, which is praised as one of the top must-have luxury bags in your collection- if you can afford it.
Birkins are priced as high as $500,000, convert that to rand, and you get R8.5 million.
After rap star Quavo gifted his girlfriend Saweetie two Birkins, many wondered what the big fuss is about with this brand.
Birkins are considered by some to be a better investment than gold or the stock market.
Why?
The value of Hermès bag has increased by 500% in the last 35 years, an increase of 14% per year.
The bags are made out of calfskin, alligator and even ostrich skin, each bag is made entirely by hand and are seen as an ultimate status symbol.
Hermes sets a limit on how many bags a client can buy each year, preserving the exclusivity of the bag, increasing the resale demand with more people profiting from selling their custom made Birkin bags at a higher cost.
Watch here the origins of the Birkin bag:
Why Birkin bags are so expensive pic.twitter.com/DRc2UpALPH
— Dr Ola Brown, MFR (@NaijaFlyingDr) July 5, 2020
If Birkin bags are outperforming gold, then why not buy your significant other more stocks than just a status symbol?
Birkin bag prices have performed better than gold and the S&P 500 over the last 35 years.
— #вʟм (@DavidDisastrous) July 3, 2020
"Don't buy me a Birkin Bag buy me stocks!"
Someone who doesn't know that Birkins have outperformed the S&P 500 since the 80s 😂
— Beez (@BeezSLS) July 4, 2020
i just would never get on twitter and say “don’t buy me a birkin bag”
— strawberry bae(✧ω✧) (@s0fthunny) July 4, 2020
Are people really on here talking about why they wouldn’t buy a Birkin Bag?… like they can afford one… sweetie😔 pic.twitter.com/ViJHNoMU7G
— Z💛 (@GiovanniZoe) July 4, 2020
(Compiled by Sandisiwe Mbhele)
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