Most times, the second you buy something and walk out with it, the value has gone down. While certain things take longer than others to lose value, over time loss of value is inevitable.
Let’s take a car for example. If you are buying brand new, the second you drive off the lot, the value of the car dropped. The longer you have it and the more miles you put on it, the more the value tanks.
We are all pretty accustomed to how value works in our society, but it’s nice to be knowledgeable of things that don’t lose value, no matter how much time passes. Check out 5 things that will hold their value, regardless of when you buy it.
Diamonds are known to retain their value, or even increase in value over time. However, to really get the most bang for your buck, you will want to buy your diamonds wholesale.
Since retail products are often marked-up already, if you buy your diamonds retail, you are spending more than would if you purchased wholesale.
Also, stay away from lab-grown diamonds. According to diamond export Dan Moran of Concierge Diamonds, Inc, diamonds are valuable because the supply is limited. However, if you purchase a lab-grown diamond, it can always be remade, and therefore, loses its value.
"Rolex is the only brand that is able to maintain a high resale value with the majority of its products," Ariel Adams, founder of ABlogtoWatch.com, told Money magazine. Adams goes on to further explain that Rolex watches retain their value because of the limited product line they offer.
Certain Rolex models hold their value better than others, but if you plan to buy a watch that you may sell in the future, your best bet will be a Rolex.
Certain Designer Handbags
If you are going to buy a designer bag that you could potentially sell in the future, make sure it is a Hermes, Chanel, or Louis Vuitton. Handbags from these brands tend to hold their value the longest, compared to other luxury handbag retailers.
Certain bags can even increase in value, over time. Emily Dang, co-founder of pre-owned luxury retail site SnobSwap, told Who What Wear: "Birkin bag retail prices range from $9,000 to $150,000 and can see resale prices up to $223,000. Most Birkins retain or increase in value, depending on leather, hardware and demand."
We all know that wine gets better with age, but certain wine can become more valuable as it ages! Wine from the Burgundy region of France is one of those wines.
According to GoBanking Rates, “The values of the top 10 Burgundy wines increased by at least 60 percent between 2015 and 2016, with the most valuable wine, DRC brand's Grands Echezeaux 2004 vintage, rising 93 percent in value over the year.”
High End Art
Going back to the economic standard of supply and demand – the more supply, the less the demand and the less supply, the higher the demand. That theory applies to art. Think about famous painters like Picasso, there are art is worth significantly more because they are no longer creating art.
While some high-end art can still retain its value after purchase, if the artist is still around and can create new pieces, the demand isn’t as high.
While most of the items listed above are luxuries, if you ever find yourself in a position to purchase any of those luxuries, stick with the brands above. These brands have been known to hold value longer than their retail counterparts.
Have you ever felt the wrath of lost value over time? Are there any items you have that haven’t and likely won’t lose their value? Share your thoughts by posting a comment below!