In some ways shopping can seem a bit like a frivolous activity, my father was always telling me off for shopping too much, for ‘wasting’ my money on clothes, shoes, and other fashion essentials. While I have to admit that a lot of my fashion purchases when I was younger weren’t necessarily the smartest decisions, what I’ve come to learn over time is that if you are a bit selective in what you buy then fashion items can be a bit of an investment.
I am not a regulated investment adviser, so I am in no way encouraging you to sink all of your hard-earned savings into a new wardrobe for Spring, but in this article I wanted to share some hints and tips on how you can spend your fashion dollars wisely and create a bit of value for the future.
Your second-hand clothes are now vintage
Vintage clothing sounds a lot more stylish than second-hand. It’s exciting to see the huge growth in demand for vintage clothing, with specialist stores opening around the world. The benefits of this interest in vintage clothing works two ways: Not only does it give you the opportunity to buy big name designers at a discounted price; but you also have the opportunity to sell your unwanted clothes and recoup some of your investment.
The right watch can increase in value
Not every watch is going to increase in value, and in relation to new watches it can be a bit difficult to predict which watches will increase in value and which won’t. If you can afford to purchase an iconic watch brand then they will undoubtedly retain their value and possibly increase in value if they become particularly desirable. In particular you should keep an eye out for watches that have been created as part of a limited edition. Limited edition models are inherently desirable as there are simply not many of them produced and some collectors are prepared to pay big money to ensure that their collection is complete. Companies such as Chrono24 are a good way to check the potential value of your preferred watch, as well as both buy and sell in the market space. If any piece of fashion has the potential to be an investment,
Save up for investment pieces
If an item of clothing is described as an investment piece, that doesn’t necessarily mean that it’s going to increase in value. When we think about investment pieces in fashion we are generally referring to an expensive item, such as a jacket or a suit that will be able to be worn for more than one season. Investment pieces have a timeless quality that means they will continue to be part of your wardrobe for years to come and so are worth the high price that they often command.
Fashion is without doubt an investment. An investment of your time, an investment of your money, and perhaps most importantly an investment of your passion in looking good and feeling great. The investment potential of your wardrobe probably isn’t a factor that will guide your fashion choices in the future, but at least you can be confident that shopping for clothes is never wasting your money.