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Anonymous
Are branded goods like LV, Chanel for example considered as investments or expenses? My friends considered it as "investments" which can be a potential money trap if it is not sold in the future.
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You must first like the product before considering it an investment. No point buying a Rolex watch for investment but keeping it in the drawer all year round.
but that being that, certain watch models are worthy of investment. I bought a Rolex submariner at $13.2k, at current it's worth $16k. Bought another Rolex rootbeer at $23k, now it's worth $27-$28k. The watch value is appreciating while I'm wearing it, so yes for me it is a great investment. :)
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Depending on the brand, but generally it doesn't have a high rate of return and isn't as worth investing in compared to conventional investment options. Though there are opportunities for price increase in some branded goods, one example being the Rolex Submariner Hulk which was discontinued in 2020.
However, do note that once you've bought a branded good and are actively using it - its value will tend to decrease over time. Any appreciation may probably just allow you to breakeven.
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Why don't you ask thewokesalaryman? They will be able to tell you whether it's an investment or expense depending on who sponsors them :p
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Victor
08 Jun 2021
Financial Service Consultant at AIA
Gucci gang...
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If your intention is to buy and use, Treat it as an expense
If your intention is to collect and sell, Treat it as an investment.
I think by following this two sentence, it should not go wrong. Many people like to trick themself that they are buying these branded stuff as investment to make themselves feel better with the purchase but actually they will never sell it so technically even it increases in value, they are just considered " Paper Profits"