Big purchase coming up? First time? Calm the butterflies. Count the zeroes. We’ve got help from luxury-investment experts
First, they blamed the pandemic. Experts attributed the rise in luxury shopping after the lockdown to the fact that Indians were merely cooped up, fed up. But it’s become obvious that even salaried young folks, those picking up their first bonuses, are now excited about big spends – limited-edition sneakers, a designer handbag, works by emerging artists, rare jewellery. India’s luxury market was worth ₹53,561 crore in 2022 according to Euromonitor, which expects it to jump to ₹82,186 crore by 2027.
Even salaried young folks are spending big. They want limited-edition sneakers, designer handbags and more.
Resale sites position every sneaker pair as special or must-have. Don’t fall for it.Mark Ong, aka Mr Sabotage, sneaker artist and streetwear designer, has been collecting kicks for 20 years.Unlike sneakers, designer bags show less wear, are easier to refurbish, and are possible to buy pre-loved.Fashion designer and stylist Nandita Mahtani prefers classic styles that don’t look dated after one season.Most purchases are in what gallerists and art consultants term the emerging-artists segment.Pallavi Khandelwal, founder-curator of art consultancy ArtBela says that many artists sell directly online.It’s better to build a small collection of high-quality pieces.Jewellery designer Inayatinder Kaur says small jewellery houses are likely to have great deals.The international standard for historic vehicles of value considers vehicles made before 1975 as historic.
