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Personal financial audits now and then can give you a good idea of the value of what you own. For most people, some of the most valuable goods they have are designer accessories, some of which can be kept for increased value or sold for a profit for immediate cash. So, from unopened designer boxes to valuable shoes, here are a few you can check your closet for.
Unworn Luxuries that Still Hold Value
You might have some expensive goods that you once loved but don’t really use anymore. Good examples are luxury watches from prestigious brands. These are often used as investments, and they may have increased in value since you last wore them, netting you a tidy profit. You can also sell broken jewellery as the value isn’t in the accessory itself, but in the weight and quality of the gold. So even if you have an old watch that doesn’t work, it can be worth a small fortune.
Digging Out Dusty and Unopened Goods
There are many different types of designer goods beyond clothing and watches. For example, the fragrance industry is pretty valuable these days, and certain brands and limited runs can hold a lot of value. As such, something like Maison Francis Kurkdjian’s Baccarat Rouge 540 can sell for up to £745 in the UK. If you have a good collection of something like fragrances, they can add substantial value to your net worth or fetch good resale value on platforms like eBay.
Personal Financial Audits of Designer Handbags
The handbag phenomenon is crazy and is currently a $50 billion industry worldwide. People go crazy for collectable bags from major brands such as Birkin and Kelly bags. Of course, these patent designer handbags are at the higher end, but even lower bags that cost a couple of thousand can sell for a lot more in good condition if they are from a limited run. But even if you don’t want a profit, you can sell these to clear some closet space and get a bundle of cash, too.
All Those Shoes You Hardly Use
If you are anything like Carrie Bradshaw, then you might enjoy nothing more than spending insane amounts of money on shoes you wear once, if at all. Designer shoes, like handbags, are pretty valuable and some increase in value. Collaborative and limited runs, such as Travis Scott x Nike, and any kind of limited edition Air Jordans, always appreciate in value. Classic shoes such as Chanel Ballerina Flats also increase because they are very rarely on retail sale.
Unused Designer Sunglasses
One of the first items many people buy as an introduction to designer accessories is sunglasses. Perhaps to look good on vacation or maybe to complement an outfit, there are sunglasses brands that are always in style and in demand. With a low entry price point, designer sunglasses collections can grow pretty large over the years, and some can hold excellent value. Examples include vintage Cartier from the 80s, and modern artisanal Jacques Marie Mage.
Summary
Unworn luxuries such as collectable watches are the kinds of accessories you should include in personal financial audits, as they can increase in value. Others include your designer handbag collection, and even unused or excellent-condition luxury designer sunglasses collections.
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