The designer handbag has transcended its role as a simple accessory to become a significant financial investment, particularly in Dubai, where a booming collectors’ market has emerged. The region’s first dedicated handbag auction house has seen sales reach as high as $350,000, and a Hermès Birkin recently sold for an astonishing $10 million at a Sotheby’s auction in Paris. This growth is driven by the handbags’ value as a collectible asset.
The Handbag Whisperer: A Dubai-Based Specialist
At the forefront of this market is Claire Marie, Sotheby’s permanent handbag specialist for the region. Marie, who previously worked as an artisan for Hermès, brings a unique blend of craftsmanship and market expertise to her role. She notes that while Gulf clients are highly knowledgeable about retail products, they often need guidance on the intricacies of the secondary luxury market, including the auction and bidding process.
Top Tips for Collecting and Care
Marie advises new collectors to invest in bags they genuinely love rather than just following trends. She suggests starting with versatile, low-maintenance leathers and building a well-rounded collection. For those looking to maximize their return on investment, she recommends selling a bag at auction if it has gone unused for six months. The article also provides key tips for caring for luxury bags, such as protecting them from direct sunlight and moisture, and seeking out expert artisans for cleaning and repairs.
