What do you think could happen?

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  1. hey guys,

    Does anyone remember the crash of 2008 and what happened to LV prices?
    I’m om the verge on pulling the plug with the Dauphine backpack and my husband says it’s not a good ides with all that’s going on. He says why not wait and see if prices drop?
    Is that Logical? Could this happen?
     
    icedcoffee likes this.
  2. Wouldn’t that be nice...
     
    ncabahug, Soniaa and karylicious like this.
  3. Did LV drop prices in 2008? That’s surprising if true.

    Given the current global economic climate, we’re deferring large discretionary purchases. I treated myself to two items on my Tiffany wish list in February but am not planning to indulge in anything else until the current situation stabilizes. While I think I’m safe at work, many won’t be. I’m not replacing my car this year nor proceeding with one of the two home renos we had planned. We’re going to hold the cash for now.
     
  4. The original OG's here will remember back before the crisis of 2008, this forum was non-stop posting of everyone's latest acquisitions, LV bags, each new release had waitlists for everything, PF members (who never post anymore) bought bag after bag, wallet, etc. and posted their items, some on a weekly/monthly basis.....it was eye popping to see how much stuff was purchased, and it was jaw-dropping whenever I read their posts and pics (with envy) !! Then the market crashed, the housing bubble burst and alot of people cut back on luxury spending, so there was a noticeable decrease in LV bag/accessory reveals, questions about purchases and a general waning of material spending and seemed like there were more lurkers and less responses to threads. As the market stabilized in the following years, I noticed more people trending towards buying pre-loved/used items, and popular sites like FP and YC sprang up. One thing that has always remained a constant, is that Louis Vuitton has NEVER had a "sale".
     
  5. Preloved prices? That's a possibility. Boutiques prices? Not so much
     
    444faith, Kathleen37 and Scarlett67 like this.
  6. Yip - all of this. Another old gangsta here and I can't remember any price drops. (There has been the occasional down pricing for some new permanent stuff which I'm guessing was wrong pricing at outset, but I certainly don't remember any price drops due to the economic situation.)

    Living in Ireland (euro's) and being an ex pat Brit (sterling) and living near the border, I've always kept an eye on prices due to exchange rates.
     
    gelbergirl, paula3boys, Lejic and 4 others like this.
  7. I agree. I don’t think boutique prices are gonna drop. However, I’d probably still not buy right now in case of layoffs or furloughs - I’d be wishing I hadn’t spent the $$$ then.
     
  8. I think it would be more likely that the French government gives luxury brands a subsidy/bailout for their losses than LV reducing prices for consumers.
     
  9. We do not know what will happen, it is always a good idea to save up (if you already have not done so) and wait. The bags will be around. Do not make any unnecessary purchases or do not invest into something you cannot afford now. Trust me, it can wait.
     
    MCF, Clairen4, closeted and 6 others like this.
  10. I am now in a holding pattern with regards to anything I don't truly need right now. I bought two LV bags and several accessories this year and it is only March. My job is pretty safe for the time being but I think I am good to wait it out.
     
    Pagan and icedcoffee like this.
  11. I’m definitely not shopping for non essentials right now. I’ve never seen LV lower prices. But they might not raise prices for a while.
     
    MahoganyQT, Carrieshaver and baglicio like this.
  12. They just did, so they are good for a while. Rich people won't be affected that much be any financial crisis (if that is the scenario) anyway. Middle class is a different story. Then, there is a question, why middle class purchases luxury items if they can't afford it? LV will keep their standard, they will never ever lower their prices. As far as I know their will use $$ to benefit the society a different way, like just recently announced, they will be making disinfection products to help with the virus. https://www.heute.at/s/louis-vuitton-produziert-jetzt-gratis-desinfektion-49144793. The same they did with the fire of Notre Dame in Paris.
     
    fdc, Isis23, PuccaNGaru and 3 others like this.
  13. Agree
     
  14. People go from making $350k a year to zero all the time. I see it all the time professionally. Except for the independently wealthy, going from affluent to middle-class is often just a job loss away.
     
    fdc, Mimmy, SpicyTuna13 and 5 others like this.
  15. Price of LV only goes up, and up and up here is Australia.
     
    onlyk likes this.