Why a Dubai woman sold her wedding gold to buy Hermes handbags
A Dubai woman sold her wedding gold to start collecting Hermes handbags. The purchase reflects growing interest in luxury bags as wealth-protection assets amid inflation and geopolitical tensions.
A woman in Dubai sold her wedding gold to begin collecting Hermes handbags in a bid to protect her wealth, a luxury resale company said.
Luxury reseller Love Luxury said it has seen a sharp rise in clients buying high-end handbags as investment assets rather than fashion purchases, Khaleej Times reports.
“The war in Iran, rising geopolitical tensions, and ongoing fears around inflation have created an uncertainty amongst investors. Approximately 35 per cent of our sales are now motivated by investing purposes, a rise of around 25 per cent,” Adam Abraham, co-founder of Love Luxury, told Khaleej Times.
Speaking about the Dubai buyer, Abraham said, “A client came to the Dubai store recently who had sold all of her wedding gold in order to start her Hermes collection to protect her wealth.”
The demand for investment-grade luxury handbags has surged in recent months as buyers look for assets perceived to hold value during uncertain economic conditions.
Among the most sought-after pieces are rare Hermes Birkin and Kelly bags, particularly limited-edition models that command steep premiums in the resale market.
“One of the most exclusive models we often have enquiries about for investment purposes is the Birkin 25 Himalaya model,” Abraham said.
He also said that while the bag retails for around £40,000 at Hermes, it can command more than triple that amount in the resale market, with pristine pieces selling for upwards of £180,000.
The resale market has also gained popularity because of how difficult it can be to purchase coveted Hermes bags directly from the brand. Customers without an established purchase history are often required to build relationships through multiple purchases before being offered highly sought-after handbags.
“We've had clients tell us about everything from chess sets to tea cups that Hermes have offered them in order to increase their chances of being offered one of the most desired Birkin or Kelly models,” Abraham said.
Adam Abraham also urged caution for buyers entering the resale market, warning that counterfeit luxury goods are becoming increasingly difficult to identify.
Founded in 1837, Hermes is a French luxury fashion house known for its handcrafted leather goods, silk scarves and iconic handbags. Its Birkin and Kelly bags, produced in limited quantities and often accompanied by long waitlists, remain among the world’s most coveted luxury accessories.