This Week's Obsession: Designer Bag Collecting Meets More Math

What makes people collect things, especially high value assets like art, cars, designer bags, and so much more? The New York Times magazine reports that at least one third of the adults in the U.S. collects one or more objects. Another survey with 806 randomly collected investors show similar figures, in which 31 percent of the respondents state that they place funds in art, antiques or other collectibles. Therefore, collecting enjoys a high popularity among the population. People have done more scientific research as to why we collecting things, and their is difference in personality of collectors who collect for investment, consumption and and those who are considered pure collectors. 

There are also psychological reasons why people are drawn to collecting. The rarity of a piece can not only make it valuable, but it can also stimulate certain parts of the brain that register this uniqueness.  This may be why we seek the unique when we collect. It stimulates our brains in areas that connect to our pleasure centre. This may also have an evolutionary benefit. We explore the new until we determine whether it is a benefit to us or not. 

No we might ask the question,

What makes people collect designer handbags? 

1. Fashion and Style: Designer handbags are often associated with high-quality craftsmanship and unique designs. Collectors appreciate the aesthetic appeal and the status symbol that comes with carrying a well-known designer bag.
2. Status Symbol: Designer handbags are often considered luxury items, and owning one can be a status symbol. People may collect them to showcase their social or economic status and to communicate a sense of exclusivity and sophistication.
3. Investment: Some individuals view designer handbags as investments. Limited edition or rare pieces can appreciate in value over time, making them attractive for collectors looking to resell or pass them down to future generations.
4. Quality and Craftsmanship: Designer handbags are often crafted with meticulous attention to detail, using high-quality materials. Collectors appreciate the durability and craftsmanship that come with these bags, which can make them long-lasting and cherished items.
5. Connection to Fashion Icons: Some people collect designer handbags because they admire the designers behind the brands. Owning a bag from a favourite designer can create a sense of connection to fashion icons and the world of high-end fashion.
6. Emotional Attachment: People may associate certain designer handbags with specific memories, events, or milestones in their lives. This emotional attachment can contribute to the desire to collect and keep these items.
7. Trendsetting and Influences: Celebrities and influencers often set fashion trends by carrying specific designer bags. Collectors may be influenced by these trends and aspire to own bags that are considered fashionable or iconic at a particular moment in time.
8. Hobby and Passion: For some individuals, collecting designer handbags is a hobby and a passion. They enjoy the process of hunting for rare pieces, staying updated on fashion trends, and curating a collection that reflects their personal style.

If you are a collector or would be collector, what is your motivation?  Obviously the motivations for collecting designer handbags are diverse and cultural and societal influences also play a role in shaping the perception of designer bags and their desirability.

Some people end up with a designer handbag collection, without really collecting - they are consumers and over time their designer handbags may become voluminous and turn into a collection. 

Purseblog wrote about celebrity collectors, if you are curious to explore your favourite celebrity's collections.  Number one of the list, Victoria Beckham. Her collection of Hermès bags is a thing of folklore as she is purported to have one of the largest Hermès bag collections in the world with over 100 bags by the brand.

In fact, her collection is so valuable, that she has over $2 million dollars worth of Hermès bags in her wardrobe.

Are you an aspirational designer bag collector ?

While we may find ourselves wanting to collect designer bags.  Not all of us have the resources, the space or the time to build a collection of designer handbags. Many of us would feel morally conflicted about such an act of conspicuous consumption.  Maybe this is why many people started to collect NFTs.  You may remember our blog on technology where we talked about MetaBirkins which proved to be quite popular.

What if you could own a handbag collection of 25 bags for the price of 5? 

Is this possible - yes - but it will be a cross between a digital and physical collection because while you can own all 25 with More Luxury Club (MLC), you would not have them stored in your home to look at - put online in your MLC profile. 

First let's use More Math to see how this is possible.

Let's say in your collection you want 5 Diors, 5 Chanels, 5 Hermès, 10 mixed assortment including Bottega Veneta, Louis Vuitton, Gucci and the like. 

It's mind-boggling to think that you can save £132,600 and significantly reduce the impact to the environment.  And your now have "250 weeks" of time per year available to enjoy your collection.  And like with NFTs you will be able to visit your collection daily in your MLC profile online or in the near future the MLC app.   And with a touch of a button you can have your current favourite sent for you to enjoy!

Summary

If you are like us you are not the HNWI (High Net Worth Individual) who spends £40k on luxury items each year. And if you are concerned about your consumption, you may be trying to cut down your consumption. In fact many in our community are interested in the Rule of Five, which is making a commitment to purchase only five new fashion items per year. This is wear models like co-ownership are going to really make a difference. Imagine having a digital circular wardrobe where you can see what you own, co-own and what's available to borrow all in one place.  You will no longer have the need to purchase more than 5 items per year.  This is the future vision of More Luxury Club.