Should You Beat Up Your Birkin? Why Worn-In Luxury Bags Are Selling Fast | Kanebridge News
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,526,212 (+1.41%)       Melbourne $950,600 (-0.81%)       Brisbane $848,079 (+0.39%)       Adelaide $783,680 (+0.69%)       Perth $722,301 (+0.42%)       Hobart $727,777 (-0.40%)       Darwin $644,340 (-0.88%)       Canberra $873,193 (-2.75%)       National $960,316 (+0.31%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $711,149 (+0.79%)       Melbourne $480,050 (-0.07%)       Brisbane $471,869 (+1.52%)       Adelaide $395,455 (-0.79%)       Perth $396,215 (+0.44%)       Hobart $535,914 (-1.67%)       Darwin $365,715 (+0.11%)       Canberra $487,485 (+1.06%)       National $502,310 (+0.25%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 8,985 (+170)       Melbourne 11,869 (-124)       Brisbane 8,074 (+47)       Adelaide 2,298 (-22)       Perth 6,070 (+20)       Hobart 993 (+24)       Darwin 282 (-4)       Canberra 809 (+43)       National 39,380 (+154)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 7,927 (+125)       Melbourne 6,997 (+50)       Brisbane 1,822 (+3)       Adelaide 488 (+5)       Perth 1,915 (-1)       Hobart 151 (+3)       Darwin 391 (-9)       Canberra 680 (+5)       National 20,371 (+181)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 (-$20)       Melbourne $580 ($0)       Brisbane $590 (+$10)       Adelaide $570 (-$5)       Perth $600 ($0)       Hobart $550 ($0)       Darwin $700 (+$5)       Canberra $670 (+$10)       National $633 (-$1)                    UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $700 (-$20)       Melbourne $558 (+$8)       Brisbane $590 ($0)       Adelaide $458 (-$3)       Perth $550 ($0)       Hobart $450 ($0)       Darwin $550 ($0)       Canberra $540 (-$10)       National $559 (-$4)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,224 (-134)       Melbourne 5,097 (+90)       Brisbane 3,713 (-84)       Adelaide 1,027 (-3)       Perth 1,568 (-46)       Hobart 471 (-3)       Darwin 127 (+13)       Canberra 658 (-32)       National 17,885 (-199)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 8,171 (-343)       Melbourne 5,447 (-170)       Brisbane 1,682 (-22)       Adelaide 329 (+3)       Perth 561 (-11)       Hobart 159 (-6)       Darwin 176 (+16)       Canberra 597 (-12)       National 17,122 (-545)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.56% (↓)       Melbourne 3.17% (↓)     Brisbane 3.62% (↑)        Adelaide 3.78% (↓)       Perth 4.32% (↓)     Hobart 3.93% (↑)      Darwin 5.65% (↑)      Canberra 3.99% (↑)        National 3.43% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.12% (↓)       Melbourne 6.04% (↓)       Brisbane 6.50% (↓)     Adelaide 6.02% (↑)        Perth 7.22% (↓)     Hobart 4.37% (↑)      Darwin 7.82% (↑)        Canberra 5.76% (↓)       National 5.79% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.0% (↑)      Melbourne 0.7% (↑)      Brisbane 0.8% (↑)      Adelaide 0.4% (↑)        Perth 0.4% (↓)       Hobart 1.2% (↓)     Darwin 0.5% (↑)      Canberra 1.5% (↑)      National 0.8% (↑)             UNIT RENTAL VACANCY RATES AND TREND         Sydney 1.3% (↓)     Melbourne 1.6% (↑)      Brisbane 0.9% (↑)      Adelaide 0.5% (↑)      Perth 0.7% (↑)      Hobart 2.2% 2.0% (↑)      Darwin 1.0% (↑)        Canberra 1.7% (↓)     National 1.3% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 27.0 (↑)        Melbourne 28.3 (↓)     Brisbane 32.3 (↑)      Adelaide 26.3 (↑)      Perth 34.9 (↑)        Hobart 33.4 (↓)     Darwin 48.7 (↑)        Canberra 27.6 (↓)     National 32.3 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 27.0 (↓)       Melbourne 29.0 (↓)     Brisbane 33.0 (↑)        Adelaide 27.5 (↓)     Perth 38.2 (↑)      Hobart 33.4 (↑)      Darwin 48.3 (↑)      Canberra 33.2 (↑)      National 33.7 (↑)            
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Should You Beat Up Your Birkin? Why Worn-In Luxury Bags Are Selling Fast

Stylish women are pooh-pooing pristine purses. Is it fueled by inflation? Y2K nostalgia? Is it just cool? An investigation into the tattered-bag trend.

By KATHARINE K. ZARRELLA
Mon, Feb 27, 2023 9:07amGrey Clock 4 min

ABOUT 20 YEARS ago, while dining in San Francisco, Lisa Unger Sandman was nearly startled out of her seat. “Oh, my God! That should never be on the floor!” shrieked a woman at a nearby table, pointing to Ms. Unger Sandman’s black Hermès Kelly bag. Chastened, Ms. Unger Sandman, now a retired banker in Raleigh, N.C., snatched up her purse which, in the current market, often costs at least five figures. “It caught me off guard,” she recalled. Today, Ms. Unger Sandman, 60, would ignore such a reprimand and isn’t so worried if her Kelly risks bodily harm. “If a bag has a scratch on it, that means you’ve enjoyed it. I’m happy with the patina.”

Ms. Sandman’s attitude reflects a growing trend. Lately, women are both embracing their handbags’ scratches and stains and seeking out visibly worn-in styles on the secondhand market. In its 2023 luxury consignment report, resale site the RealReal noted higher demand than ever for bags in “fair” (i.e., heavily worn) condition. Similarly, at resale platform Vestiaire Collective, co-founder Sophie Hersan reports that sales of worn-in designer bags have jumped 13% in the last six months.

Why the sudden craving for beat-up bags? One of the biggest draws, posits Katie Devlin of trends and insights company Stylus, is the Y2K revival and the resurgence of “indie sleaze,” a grungy, aughts-era aesthetic. She references the circa-2010 style of Mary-Kate and Ashley Olsen. Famously on their arms back then: decimated Hermès Kellys and Balenciaga bags (like the one shown here). “It’s the idea of looking expensive but like you don’t care—of not looking overly curated,” said Ms. Devlin.

In that regard, the trend, which encompasses luxury bags by the likes of Chanel, Gucci and Louis Vuitton, as well as label-free vintage styles, may be a backlash to the picture-perfect world of Instagram and wealthy reality TV stars (see the seemingly untouched designer bags that line the Kardashian clan’s walk-in closets). “There’s a move away from this idealistic, filtered look we’re so used to seeing,” said Dayna Isom Johnson, a trend expert at online marketplace Etsy, where searches for Y2K handbags are up 51% in the last three months compared to the same period last year. “Now people are really embracing the realness and messiness that comes with living everyday life.” Not using something that costs so much, Ms. Isom added, makes people feel “very wasteful.” Elizabeth Layne, chief marketing officer of resale site Rebag, has observed a resistance to feeling “too precious about [luxury] workhorse bags of lower grades. You don’t have to worry if it gets a scuff.”

New York stylist Malina Joseph Gilchrist agrees. “There’s a quiet luxury thing happening…a reaction to a congested market of handbags that are logoed and attention-seeking.” With a worn-in bag, she said, “you look like you’re not trying too hard.”

For Sapna Bhatla, 42, a business strategy consultant in Philadelphia, beat-up bags—whether trendy or not—speak to her identity. After immigrating to the U.S. from India, her style-savvy mother would combine her traditional attire with vintage estate-sale finds. So “pristine feels contrived and inauthentic to me,” Ms. Bhatla said. “If you see my body, I have scars. I have marks. I have a life that’s been lived. And I’m happy to have signs to remind me of it. I like things that show a test of time and sturdiness and resilience.”

She owns an arsenal of worn-in designer purses—some she marred herself, others that she scooped up on eBay. Among her favourites is a decades-old, no-name leather bag she found at a Paris flea market. “I’m not so crazy about brand names when it comes to vintage. If it’s here today, it’s already good quality.”

Those scars should not be haphazardly patched up, said Sofia Bernardin, founder of luxury vintage platform ReSee. “There’s nothing worse than a badly repaired bag. It’s like a woman who’s had too much Botox—she’d have been better off not doing anything.” Still, not all decay is desirable, said Kristin Whalen, 36, a San Francisco senior director of client management and bag obsessive who’s had some of her styles since high school. For her, protruding structural wires and age-induced deformities are nonstarters. Trend analyst Ms. Devlin maintains that, while the optimal degree of destruction is a personal choice, “if it’s not functional and your strap is falling off, it’s time to say goodbye.”

Is inflation driving this so-called “trend”? Recently, the cost of new luxury bags has skyrocketed. According to Jefferies Group, the price of Chanel’s coveted small classic flap bag increased about 60% between 2019 and 2022 in the U.S. Meanwhile, on the RealReal, bags in “fair condition” cost on average 33% less than already-discounted “good condition” options, said Noelle Sciacca, that site’s fashion lead. Lara Osborn, reseller Fashionphile’s vice president of procurement, offers a reality check. “We have to ask ourselves: Is a [worn-in] bag really chic, or is the economy just dictating that we’ll be wearing bags with a lot more love?”

Ms. Joseph Gilchrist insists it’s the former. If your bag’s beat-up, she said, “you just look cooler.”

How to Make A Beautiful Disaster

Is your fancy handbag looking too new? Here, four inadvisable but foolproof ways to pulverise even the sturdiest purse.

1. Toss your pristine purchase in the washing machine—and choose the most punishing spin cycle. For extra distress, add bleach.

2. Give that immaculate purse to your puppy. If he seems uninterested, slather it in peanut butter and present it again.

3. Buy a top-notch bow and arrow and use your bag for target practice. Ignore its faint whimpers each time it’s pierced.

4. Drop it at an osprey breeding site so a hen can use it in her nest. Once the chicks have fledged, retrieve your totally tattered tote.

The Wall Street Journal is not compensated by retailers listed in its articles as outlets for products. Listed retailers frequently are not the sole retail outlets.



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China’s economic recovery isn’t gaining the momentum money managers are awaiting.

Data from China Beige Book show that the economic green shoots glimpsed in August didn’t sprout further in September. Job growth and consumer spending faltered, while orders for exports came in at the lowest level since March, according to a monthly flash survey of more than 1,300 companies the independent research firm released Thursday evening.

Consumers’ initial revenge spending after Covid restrictions eased could be waning, the results indicate, with the biggest pullbacks in food and luxury items. While travel remains a bright spot ahead of the country’s Mid-Autumn Festival, hospitality firms and chain restaurants saw a sharp decline in sales, according to the survey.

And although policy makers have shown their willingness to stabilise the property market, the data showed another month of slower sales and lower prices in both the residential and commercial sectors.

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Nicole Kornitzer, who manages the $750 million Buffalo International Fund (ticker: BUIIX), worries about a “recession of expectations” as confidence continues to take a hit, discouraging people and businesses from spending. Kornitzer has only a fraction of the fund’s assets in China at the moment.

Before allocating more to China, Kornitzer said, she needs to see at least a couple quarters of improvement in spending, with consumption broadening beyond travel and dining out. Signs of stabilisation in the housing market would be encouraging as well, she said.

She isn’t alone in her concern about spending. Vivian Lin Thurston, manager for William Blair’s emerging markets and China strategies, said confidence among both consumers and small- and medium-enterprises is still suffering.

“Everyone is still out and about but they don’t buy as much or buy lower-priced goods so retail sales aren’t recovering as strongly and lower-income consumers are still under pressure because their employment and income aren’t back to pre-COVID levels,” said Thurston, who just returned from a visit to China.

“A lot of small- and medium- enterprises are struggling to stay afloat and are definitely taking a wait-and-see approach on whether they can expand. A lot went out of business during Covid and aren’t back yet. So far the stimulus measures have been anemic.”

Beijing needs to do more, especially to stabilise the property sector, Thurston said. The view on the ground is that more help could come in the fourth quarter—or once the Federal Reserve is done raising rates.

The fact that the Fed is raising rates while Beijing is cutting them is already putting pressure on the renminbi. If policy makers in China wait until the Fed is done, that would alleviate one source of pressure before their fiscal stimulus adds its own.

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