The New Family Heirlooms: Luxury Handbags, Accessories and Jewelry
As modern families prioritize significant wearable pieces to be passed on to future generations, they are investing in luxury goods as heirloom items.
For generations, grandparents have passed fine china or decor pieces from parent to child, child to grandchild. Instead of fine china, modern women are choosing different heirlooms for their future generations: luxury goods.
Shoppers express with this pivot a changing attitude about intentional purchasing. Luxury handbags, worn statement items, have a lasting significance that can be enjoyed and appreciated even outside of the home.
A luxury item is available as a milestone purchase for promotions, birthdays or retirements. Christmas dinner may be served on Grandma’s fine china, but it may never be touched until next year.
As more contemporary women seek gifts that highlight the emotional significance of important moments with enduring value, many are turning to luxury resale platforms like myGemma. Through these platforms, they may find coveted handbags or accessories that have the timeless style and sentiment that appeals to them.
A classic Chanel flap bag or a Cartier Love bracelet, for example, can carry emotional significance while also remaining relevant in the public eye and staying desirable for years. These luxury heirlooms then become physical reminders of important moments of growth, while also continuing to grow with antiquity, creating a piece that represents care and quality.
How to find a luxury piece that stands the test of time
Luxury pieces have demonstrated a staying power, unlike commonplace gifts that may lose value with age. Iconic pieces like handbags from Louis Vuitton and Hermès or jewelry from Van Cleef & Arpels and Tiffany & Co. have longevity, making them sought-after pieces even years after their initial launch.
CEO and founder of myGemma, Andrew Brown, offers tips on how to source a heirloom piece that is both sentimental and capable of increasing value. Shoppers are suggested to look for a piece with a timeless design, exceptional craftsmanship and lasting demand.
He recommends Hermès handbags as a prime example of timeless design and craftsmanship, with the scarcity of these items potentially contributing to long-term demand.
“Birkins and Kelly bags can typically sell at resale at a significant premium to retail price due to the relative scarcity of the bags in the market,” says Brown. “While a brand-new Birkin 25 is approximately $13,500 at Hermès, given the difficulty in sourcing one from the store, these items can be $25,000 to $35,000 at resale, depending upon the color and hardware combination.”
Not every luxury purchase may follow the same trajectory, but pieces that can combine the three pillars of an heirloom piece that Brown suggests may remain relevant and valuable outside of the family for generations.
Why resale matters when choosing a luxury heirloom
With the boom of luxury resale, shoppers of luxury goods have increased access, which may aid them in sourcing difficult-to-find items, like iconic or statement pieces. This market may make purchasing more likely than sourcing through the brand. The item may no longer be sold or may be constantly sold out.
MyGemma, and platforms like it, allow users to buy, sell, trade or consign their authenticated luxury items. In the search for a luxury gift or item, resale opens doors that may not have previously been accessible if the item is rare, discontinued or coveted. Transparency into which items have maintained demand throughout time may be greater on luxury resale platforms.
A legacy built through luxury heirlooms
Modern shoppers are prioritizing heirlooms with craftsmanship and longevity, taking a break from the fine china of their grandparents. They prefer quality over trends and seek pieces that are made to be worn and passed down with the significance of their success attached.
This may be a handbag gifted for a special occasion or a treasured piece of jewelry that becomes folded into the family’s history.
On trusted resale platforms like myGemma, users can rehome their luxury items or purchase a sought-after piece to incorporate it into the story of their legacy, building a bridge between families and histories with a purchase.
Prices and availability are accurate as of the time of publication and are subject to change without notice. Please check the retailer’s website for the most up-to-date pricing information.
