Are you someone who is obsessed with handbags and holds a large collection of these luxury bags? If you fall under the same category, you are not alone. “The bags still look great to me—so why is the valuation lower than I expected?” But if you are thinking about this, then definitely you are not alone, there are many like you. Women have always loved handbags, but buying luxury ones is an investment that should be appreciated over time. It therefore becomes critical to get the handbag valuation done well in time so that you have a fair idea about the current worth of your handbags.
Handbag valuation services are conducted in a manner similar to jewelry appraisal services, and like the value of jewelry, the worth of your handbag depends on several factors; therefore, when collecting handbags, always keep in mind that they are also condition graded. Condition grading can change your handbag’s value more than the brand name ever will.
This article will help you understand things in detail so that you have a fair idea about how to secure your handbags and ensure that you get excellent value when it comes to getting the valuation done. There are several things that are taken into consideration when it comes to declaring the value of a handbag, and listed below are a few important things that will help you in keeping track of the condition of your bags so that you get the excellent worth when the time comes.
Why Is Condition the Biggest Value Driver?
As a handbag owner, you might be obsessed with buying the latest handbags available and have assumed that brand and model are everything. Indeed, brand and model are crucial and play a significant role in determining the valuation during a detailed analysis. However, it is the condition of the handbag that ultimately protects its financial worth.
For example, two people bought the same handbag on the very same day. After a significant gap of five years, when both individuals went to have their handbag valued, they received different valuations for the same bag that they had purchased five years ago from the same brand and store. To understand this difference, we have listed below a few important parameters that determine the worth of the bag, even though it was initially valued the same when purchased.
- Stored
- Used
- Cleaned
- Protected
That’s why professional handbag valuation focuses so heavily on condition grading.
What “Condition Grading” Really Means
All across the USA and beyond, the luxury assets, such as handbags and watches, are all condition graded. This grading is basically the process of assessing how close your bag or any stuff is to its original state.
For bags, it’s not about whether you can still use them. In reality, it’s about how much visible wear and tear or any kind of damage has come to these handbags with use and with the passage of time. When the appraisal is being done, even the small details like the softened corners or slight darkening on handles can drastically lower down the value of your handbag, and hence, it becomes crucial that once you own a handbag, you always make sure that you are able to keep it in the best state possible to get the best valuation.
The Wear and Tear That Reduces Value Fast
With the passage of time, any asset, however expensive and valuable it was, degrades, and here the actual game of valuation begins. To tell if your handbag is losing value, you must pay attention to several things. Listed below are two important marks that will help you in understanding when your handbag is losing its worth.
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Corner Wear
Placing your handbag in an unclean or rough area damages its corners. This wear on the corners of the bag can heavily destroy its appearance and lead to lowering its worth.
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Handle & Strap Darkening
When you carry a bag with you, there are several things that come in contact with it, although unintentionally, such as skin oils, perfume, lotions, etc. All these items cause damage to the bag and complicate its restoration to its original condition.
Summing Up
To sum up, there are many things to consider when planning to get your handbag valued. First, remember to keep it clean and well-maintained every time you use it. With the help of these careful methods, you can increase the life of your bag and thereby get its fair value once you get the appraisal done.
