Have you been priced out of collecting LV and resent it or do you see current price rising trends as a positive?

[Pkac]

Around 5-7 years ago one of the things I loved the most about the LV forum was the sense that there were so many avid collectors of the brand - people who would share with the forum their multiple purchases from each new collection, the excitement of obtaining new Christmas animation pieces, etc. Unlike collectors of Hermes or Chanel at the time, it all felt to a degree somewhat accessible and obtainable.
Am I right in thinking that all of the outrageous price increases over the last couple of years has changed the culture surrounding this?
It’s a shock to me today to peruse new collections where canvas pieces are upwards of $3-4000 AUD… Mini Pochettes are over $1000 AUD etc. The days of being able to obtain a new decent sized bag for under $2000 AUD have just long gone and I wish that I’d been in a position back in the early to mid 2000s to have taken much more advantage of the accessibility of luxury goods.
Who else misses those years, or do you see current pricing trends as a massive benefit in that your purchases are constantly increasing in value in the secondary market?

 

[boyoverboard]

I don’t see the price increases as being in line with increasing quality of materials and craftsmanship, which is my main issue. I’m pleased that most of my collection is from several years ago. I wouldn’t pay most of the current prices, even if the quality was the same as in years gone by.

 

[lill_canele]

Hmm, that is a little hard to say.

Price increases happen for everything over time. There is inflation and the cost of living has gone up. In general, we can expect prices of luxury to go up. But we do expect them at a steady and slower pace.
I understand that during the pandemic years, LV and Chanel have become infamous for their price increases during a very difficult time in the world (aka the pandemic) and that feels very unfair. (And it's not just them, we know that Dior, Fendi, Celine, etc. other luxury houses have done sneaky price increases in the past 2 years)

However, at the end of the day the costs add up for them too.

For example, gas prices in the US are now $6 per gallon, I believe my friend in Hong Kong recently filled up his car for $10-11 USD per gallon. So now, if LV needs to fly over a shipment of goods to the US or any other country, the cost of that transport rises significantly for them.

We are shocked and frustrated because due to our past experience with the brand, we knew how much they cost and how much we paid for things in the past. And in our minds, that is set as the price that it should be, because that is the price we were okay with paying for back then or the price that we initially saw and mentally put it in that position.

But things change, and usually, especially for luxury, price fluctuates in a way that it doesn't go down, and usually goes up.

Another issue concerning about increasing price vs increasing quality and craftmanship. I understand that it does not make sense to increase price if quality goes down. That is a big no no for anyone.
However, quality can only go so much. What if there is a point that LV makes a perfect bag every single time? Are they going to stop their price increases? I doubt it.
To justify future price increases, they can do other things I suppose, improve the quality of their services, they could become like Hermes and have them only handmade in France, etc.
But there will be a point, that, that is all LV can do. They will continue to do price increases even if they have no quality issues, have perfect customer service, do bag repairs and aftercare, etc. etc. etc.

So at the end of the day, we are buying the brand. We are paying mainly for the brand. It just depends on how much we are willing to pay for it.

I'm not saying I'm supporting LV (or any brand's) price increases or that they are 100% justified in their price increases. I'm sure there are some understandable reasons and the other is just being corporate and making more money.
Just sort of trying to see a different perspective of things, since this is the world we live in now. A world of inflation and price increases. Perhaps it has always been this way, but it has become very obvious and hard-hitting in recent years.

Just my thoughts though, no need to take it too seriously.

 

[Hammerice22]

The quality is decreasing while the prices are increasing. All items should be tripled inspected prior to mailing them out/ selling them. No one should get a damage 2K, 3K, 4k LV item.

I mean, I am not in a rush to purchase any new bags as all the collections coming out are really not new bags, but just new colors.

If I see something I like, I will note it and if I still want it in a year, I will purchase it, but my handbag price limit from LV is 3K.

 

[Love_N_Lune]

The only thing that upsets me is not getting in the game sooner. I only started buying designer handbags about 2.5 years ago. I kick myself for not buying earlier due to lower prices.

Seeing increased prices make me feel good that I first purchased classic pieces. I am about to add the last classic, a Neverfull. The current price is crazy but it’s the highest I would go. I would like to add an empreinte piece but it’s not necessary. The new, seasonal collections don’t normally call me so my wallet is safe

 

[BleuSaphir]

I don’t know, my mind is conflicted. I don’t support this year price increase. Nothing make sense to why they needed to but wanted to for the sake of making more money!

I‘m well aware these stuff are just mass produce items. I’m sure LV is controlling the inventory to make thing more “scarce”. I just know I need to be more selective of what I want and spend where I really see value.

 

[Liberté]

So at the end of the day, we are buying the brand. We are paying mainly for the brand. It just depends on how much we are willing to pay for it.

I think this is the main issue for me, more than feeling "priced out". At some point LV stopped being worth it, compared to the many, many alternatives out there. It was a combination of increased prices, some bad customer service experiences and that the designs got too crazy for my taste, ie. I basically stopped caring for the seasonal items around the supreme colab, as well as LV putting a seemingly heavy focus on pleasing the "hype beasts" crowd, collectors and putting out "bag-as-an-investment" pieces. Some of the wildest designs (like the LV tribute patchwork) from MJ era seem like any seasonal bag they make now. Also, when 10 year-olds start asking how much your bag cost because of the ostentatious branding and because they are interested in reselling on stockx or some other reseller app, it's too much for me. Anyways I still enjoy the pieces I have, but the entire package seems not worth it at the current price levels for me.

 

[Pkac]

The only thing that upsets me is not getting in the game sooner. I only started buying designer handbags about 2.5 years ago. I kick myself for not buying earlier due to lower prices.

Seeing increased prices make me feel good that I first purchased classic pieces. I am about to add the last classic, a Neverfull. The current price is crazy but it’s the highest I would go. I would like to add an empreinte piece but it’s not necessary. The new, seasonal collections don’t normally call me so my wallet is safe

Oh, me too!! I started around 6 years ago, but at a relatively slow and steady pace and there are so many more bags I wish I could have acquired prior to current pricing, at which many bags are now beyond an amount that I’m personally comfortable spending.
I actually finally added a Neverfull to my collection just before the latest increase and I wish I’d just bought one many years ago when I initially had it on my wish-list!! Still, I’m happy I finally took the plunge and just did it, as with two small kids I’m using and enjoying it practically daily.

 

[Loriad]

I'm very disappointed with the quality of items today, as I compare them to the older bags in my collection. I felt like the prices were high back then when I considered "it's just a bag" but I loved them enough to keep buying. Now when I see things that I bought a few years ago with a ridiculous price, I'm both sad and disappointed. I feel like if they're trying to be exclusive and the entry level is going to be $2k, the quality needs to be top notch or I'm not willing to shell out that kind of money. I feel the same about Chanel. I'm very happy that each bag I've purchased and kept has fit a particular nitch in my collection and has purpose. For me, I will try to use what I have and search for bargains on preloved vintage from here on out.

 

[B-Town]

I don't mind paying a premium for quality, and to some degree, I don't even mind paying a premium for a label (flashy logos aren't my thing, but I admire a lot of Balenciaga items and am happy to own a few, for example). The DE items I bought years ago are still holding up well and I still use and enjoy them, but I don't think they would be worth buying at today's price points--especially with all the noted quality concerns. If I did buy any new LV today, I'd only buy leather items, and only in store--not online.

 

[Sunshine mama]

When the price was lower, I would buy certain pieces I loved even though the quality wasn't perfect. I forgave LV. It made sense to me.
Now, I am more careful and scrutinizing with the pieces I buy.
I try a little harder in trying to determine whether or not the price and quality of what I'm trying to get make sense to me.

And if I think LV is BS-ing me with lack of quality, then I just move on and wait for another piece that will wow me with what I think makes sense to me. LV is sooo fast paced with their new designs and collections, that in the blink of an eye, the newest is already passé anyway.

So luxury fast fashion like LV needs to really wow me now because it's a lot more expensive.
And I'm less tolerant with their mistakes in QC.

 

[twinkle.tink]

Great question and conversation!

Forty years ago I got my first LV, a keepall. My parents paid $295. According to an inflation calculator that would be $867 today…..instead it is $2170!

My bag still looks amazing….ironically, I have been thinking about posting pictures because it looks so good at 40!…but I do not think today’s bags would last the abuse I put this bag through.

 

[NicaG]

I just start buying LV in early 2020. I thought prices were high back then but I really wanted to start with the brand. Now in 2022, I've taken multiple items off of my wishlist because of the price increases. I'm going to buy the last few items on my wishlist and I will probably be done. I have an amount I'm comfortable paying for luxury and most of the items are inching close or have surpassed it.

 

[chilipepper_96]

I started buying LV monogram pieces in 2021, so I'm fairly late to the game. Although I only own two items, I think I'm done with purchasing LV for a while. For me, there is diminishing returns for owning monogram pieces. I'm looking into trying other designer houses such as Chanel (yes, even though they are the worst offenders of price increases). I don't feel like the price increase is a benefit to my current small collection. The prices you see on fashionphile are not even close the prices you will sell them for. I've seen fashionphile quotes, and even for popular items the quote price is 60% of what they are selling for.

 

[snibor]

Still love LV. I don’t see price increases as positive. Everything has increased from food to gas, to other designer goods as well. There are always years where I’m not fond of LV styles, but I always seem to come back. Do I miss cheaper prices? Of course. We all do. But it is what it is.