Louis Vuitton announced two price increases in 2020. Typically luxury brands will increase prices at least once a year. This year there will be three increases on Louis Vuitton in less than 10 months!
In March 2020 Louis Vuitton announced a 3% increase in prices, then they shocked the entire luxury market by increasing prices AGAIN in May.
It is now January 2021 and Louis Vuitton has announced a new price increase on the 7th, which will likely be in the 3-5% range.
I give you these figures to encourage you to grow your luxury bag collection. With each luxury designer increasing their prices ever year (and in this case 3 times in less than a year) your bag becomes an investment.
Once a bag hits their initial depreciation, the price holds. As it ages, and possibly becomes more rare, or discontinued the price begins to increase. Some vintage second hand bags sell for more than they did at full retail.
The second hand market follows this same pattern, because as a brand increases in price at retail, it will increase in price at second hand prices.
THERE'S NEVER BEEN A BETTER TIME TO BUY THAN NOW- has never been more true!