How expensive was the Louis Vuitton Speedy twenty years ago? Explore the changing price of the iconic LV bag from 1979 to 2020.
Is Louis Vuitton’s most popular handbag a good investment? How has the price of Speedy bags increased over the years? Classic investment pieces like the Speedy are known to maintain or increase value as they age, as long as they are well maintained. Louis Vuitton handbags go up in value. Louis Vuitton also maintains limited quantities of products in-store and on their website. By controlling exclusivity with consistently high demand, it’s a recipe for Louis Vuitton’s success.
History of the Speedy
The Speedy 30 was first created in 1930, originally named the “Express”. The Speedy 25 as we know it today was created in 1959 at the request of actress Audrey Hepburn, who wanted a mini version of her favorite Louis Vuitton Keepall travel duffle.
The Louis Vuitton Speedy is one of the most iconic Louis Vuitton bags. It has two vachetta leather top handles, a large rounded body, and gold-tone hardware. The numerical size names refer to the width of the front panel in centimeters. The highly sought-after Bandouliere (with strap) version doesn’t show up on the pre-owned market as often. Speedy 30 is the most popular size of the Speedy family. If you’re looking for a bag to love and eventually resell, the Speedy 30 is the bag to buy.
Louis Vuitton Price Increases
In this research study, we will look into the historical pricing of Louis Vuitton handbags, with a focus on the Louis Vuitton Speedy Bag which provides us with the best historical data.
We know Louis Vuitton bags increase in value over time, but how much? Based on the data below, if you bought a Louis Vuitton Speedy 30 in a retail store in 2009 for $690, the price of the same bag is now $1160 in 2020. That’s a 68% increase over 11 years!
The value of the Louis Vuitton Speedy has certainly outpaced the rate of inflation over the last half a century. Why is this happening? While we can’t say for certain, inflation, demand, labor, and production cost increases play a significant role. Inflation and basic economics say that more demand means higher prices. The more money people are willing to pay for them, the more value Louis Vuitton bags have. Raising prices and maintaining sales is a manifestation of a powerful brand. While it is normal for Louis Vuitton to increase prices annually, the last few years have seen two or more increases between seasons.
Next, the cost of material and labor increases over time. If Louis Vuitton is paying a higher price for the canvas, they will compensate for the loss with your wallet. The cost of labor has gone up as the company grew larger and more artisans were needed to produce Speedy bags. Price increases ensure that make sure everyone involved in the creation of your Louis Vuitton bag is paid fairly.
Louis Vuitton Speedy Prices (from 1979 to 2020)
Using Louis Vuitton catalogs and receipts, we researched the price differences for the classic Louis Vuitton Speedy through the years. The retail prices for Monogram, Damier Ebene, and Damier Azur styles are the same. You’ll see that regardless of style, each of the handbags listed has only increased in value over the years, You will also see that price increases at Louis Vuitton are inevitable. Louis Vuitton creates their own rules when increasing the prices of their handbags, with the price increases far outweighing any inflation, labor, or production cost increases.
Louis Vuitton Speedy 25 Retail Price Increases (1979-2020)
Louis Vuitton Speedy 30 Retail Price Increases (1994-2020)
Louis Vuitton Speedy 35 Retail Price Increases (1988-2020)
Louis Vuitton Speedy 40 Retail Price Increases (1994-2020)
Is the Speedy bag a good investment?
Today, investors, collectors, and handbags aficionados can easily buy, sell, or consign their Louis Vuitton pieces on resale sites like Marque Luxury. The resale market plays a significant role in the potential for Louis Vuitton bags as investment pieces. The popularity of the Speedy bag essentially ensures that their resale value is stable and continues to rise. On the resale market, Speedy bags in pristine collection with an even patina on the leather will sell for a higher dollar amount regardless of the year they were made.
In conclusion, the Louis Vuitton Speedy remains a flagship handbag for Louis Vuitton in terms of appeal, value, and as an investment option. The value of Louis Vuitton bags has historically increased and are likely to continue to do so.