How To Choose Your Next Investment Piece
There’s a time and place where one drops a little extra coin on an investment piece. And there are many reasons why one does it. You might be seeking a higher quality in you items, it’s a gift and you want it to be extra special, it’s something you plan to pass down, you need it to last you through the years, or you simply just feel like indulging. Whatever the reason, it’s important to be strategic about how and why you’re spending that much money.
The first thing when deciding on an investment piece is to determine your budget. This might seem obvious, but it’s very important to take it seriously. Knowing your budget will narrow down what type of item you can afford and the brands you can buy it from. If your budget is $1,000 then the only things you can purchase from Prada and Dior are a pair of sunglasses and maybe a wallet. But if your budget is $1,000 and you’re shopping at Coach or Kate Spade, then your budget will allow you to purchase a coat and a bag depending on its size.
Another thing to consider is the quality of the item you’re purchasing. Just because it has an expensive price tag and fancy label doesn’t mean it will be a better quality than your local Banana Republic. If quality is something that is super important to you, then do the research and find out what other buyers are saying about the product. The salesperson at your local Neiman Marcus is probably not going to spill the tea on how sturdy the strap is on that crossbody. Be smart and dig for details.
The timelessness of an item is super dependent on its quality, as well. It’s hard to make an item work for you 30 years down the road when the ends are fraying and the leather is peeling. Not everyone’s style is classic and timeless, but anyone with a good closet will own at least a few classic or timeless pieces. A plain white t-shirt and a simple black pump never go out of style and work for a multitude of aesthetics. Consider how the item you’re looking to buy will hold up in your closet over a lifetime. If you’re going to spend 3x to 10x more than you normally would, make sure it’s something that will work for you for a very long time.
The style longevity of your investment piece leads into the discussion about cost per wear of the item. If you’re someone who hates wearing heels, why are you buying 5.5 inch stilettos from Christian Louboutin? If you know you’re the type of woman who prefers to carry her entire life in her bag, then why did you spend over a thousand dollars on a bright pink miniature purse? Make it make sense. But, if you live in a place that gets extremely chilly, then spending $800 on a puffer is a great investment because you know it will get used often. If you wear that puffer four days a week for 2 months, that means you wore it 32 times. If you then divide $800 by 32 wears, that means your jacket cost you $25 per wear. And that’s only calculating for one winter. Versus spending $1,500 on a miniature purse you only wear 10 times – if that – in your life. That means your miniature bag cost you $150 per wear.
However, deciding to own a puffer or miniature purse is based on your lifestyle. We’re based in Florida. So, owning a puffer isn't necessary. But a versatile evening bag might be more your speed if you constantly have to attend special events. Analyze your life and see where your closet just isn't meeting the standards you’re looking for, then fill in the gaps with your investment pieces.
Clothing can provide emotional gains and emotional losses. Purchasing the exact thing you need, wearing it all the time, and being happy instead of frustrated every time you go to grab it is your goal. It should honestly be the standard for everything in your wardrobe, but mainly, for those more expensive purchases. Be specific about how much you’re truly willing to spend and the quality you’re willing to accept. Make that purchase worth it by how long and how much you’re able to wear it. And deeply consider your lifestyle and what needs to be added to complete your wardrobe in a way that makes sense for you.