Buying into the luxury market as an ‘investment into higher quality pieces’ has provided, for some, a sense of comfort and justification for the often elevated price point.
In the past this could be easily corroborated by a strong correlation between price and quality. This is arguably no longer the case for many of the luxury houses; as they increase the price, the quality of these items visibly, tangibly and materially has noticeably decreased. In a sense, this has watered down the argument of ha higher price being equal to a more enduring, well-crafted product.
What are the new value propositions of luxury? Do we perceive other benefits as buyers into new products from these bands?
This may be another reason designer vintage has become more sought after, with many brands like Miu Miu buying their own products “back” in a sense, and reselling them themselves, with Ralph Lauren being the latest to participate in this marketplace.
There is an undeniable difference in quality and overall feel of archival pieces when compared to their newer counterparts. Additionally, a pre-owned item has stood the test of time and wear with its previous owner, which speaks to the craftsmanship and quality of the materials used.
The appreciation for well-crafted, rare and unique pieces has increased the flow of archival items into the resale market, while simultaneously heightening the buying competitiveness and availability of these items. The value of the product posed by these brands may ultimately have different meanings for each individual, and may also differ depending on whether you are shopping retail or resale, or both.
