Let’s talk buying clothes as an investment. Spoiler alert: it’s bullshit. I don’t care if SuzyMiller at Bergdorf’s whispers your name and serenades you about how your $2500 Isaia suit is “contextualizing your whole wardrobe.” Stop listening to the Barneys Nordstrom salespeople patting you on the back about how what you spent last Saturday is not an “expense,” but an “investment.” I get it, there’ compelling argument that things you love and will wear frequently have great “cost per wear” (trust me, I once believed it too), and of course, high quality things from established makers often last generations.
Wearable investment grade pieces, yes. But actual investments? Please.
Sure, I fell for it too once. Ask Margaret, I used to come home from the sales floor in Harlem nearly every other weekend with some stupid Travis McDonald “investment piece” I talked myself into thinking would pay for itself in the long run.
And then I bought some actual investments.
After two decades of buying what I thought were<a href=”https: //joewears.co.uk/thrift-store-treasure-hunter-finding-designer-labels-at-goodwill-prices/”> investment grade menswear pieces</a>, I decided to track what happened to them when I actually tried to sell them. Spoiler alert – I didn’t make nearly what I spent. Remember that gorgeous Kiton suit I wore on my bar exam?
Tried to consign last year and nearly barfed from laughing so hard at their offer. Didn’t think my Hermès “investment grade” neckwear would be worthless either? Think again… Don’t get me wrong, I was hooked.
If “investment grade menswear” wisdom wasn’t holding a ton of water, what clothing categories were? I dug through auction records, interviewed vintage dealers, scoured recent resale pricing, and what I discovered shocked me. Almost everything I thought I knew about <a href=”https://joewears.co.uk/the-vintage-pieces-worth-hunting-for-and-the-ones-to-skip/”>“investment grade menswear”</a> was turned upside down.
There are pieces of clothing that do hold, and even increase their value over time. And they’re likely something you’d actually wear on a weekly basis…they’re just not what your typical Millennial retail salesman is trying to convince you is “investment ready.” Before we dive into the good stuff, here’ the same caveat I give myself every time I consider buying menswear to hold for profit. Don’t do it.
Just don’t. If you want to invest money, buy low risk index funds and buy your suits at Mens Warehouse. Clothes are one of the biggest purchases most people will make each year; spend your money on things you love that you know you’ll wear a ton, not assets that’ll only depreciate the second you walk out the door.
Stain that $400 shirt with dinner molasses and you’ll hate yourself. Literally. Alright, fantasy banter over.
I’ll admit it. I’ a data nerd. I love doing this type of research, and if you’re anything like me I’ definitely found categories of clothing where smart shopping can at least maintain (and potentially appreciate) their value while you’re wearing them.
Classic high end menswear drops into the same trap as any other consumer good. Despite what Florent can tell you on TV, that never worn off-the-rack Brioni with the over hyped shoulder construction you salivated over? The heavy luxury cotton Tigari that bears your name stitched in it from Rome?
Those angel stitched Archies that’ll run you 2-3x’s what you spent on your car? Once you buy those garments off the shelf, their value decreases 50-70% ASAP. Been there, done that.
Tried to consign my own barely worn Brunello C sport coat a few years ago and instantly regretted it. Paid retail made me throw up in my mouth a little. Got offer from PIFO sent me digging through my liquor cabinet.
But hey, welcome to capitalism. Like any automobile, that rate of depreciation is just expected even on the highest end of luxury menswear. It’s just that, at the luxury level, it starts much higher up the ladder.
Doesn’t mean, however, that certain categories don’t fail dramatically. Far from it actually. By far the category that’ strengthened the most over the past decade has been footwear.
And no, not what you think. Don’t get me wrong, I love my ‘greens and they’ probably be my kid’s kid’s shoes when I pass on. But the category that actually sticks and wrestles with Humberto year after year?
Viberg. That tiny ass bootmaker from Canada you’ve been refreshing Grailed every other day for them to drop limited stock is where its at if you’re looking to buy shoes that retain resale value. Vestibule boots, Cauboussins, Classic Lug boots all sell on Grailed and Vestaire 20-40+% above retail on the reg.
Buy em, wear em, resell em, rinse and repeat. Shoes that I know could literally be ruined by getting caught in the rain and I would still sell them for more than I bought them for? Sign.
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Me. Up. Ok, lets get something straight.
I started buying Viberg “investments” back in 2017. Which means I only have a couple years of data. But even my short time with the brand has shown me serious appreciation on certain styles.
Bought my “Matte Black Calf” service boots for $720 retail in 2017 and sold them two years later for $1100 on Grailed. Even playing this “thought they would only go up” game (dangerous I know), my full Edward Greens would most likely resale today for around 40% of what I initially paid if I liquidated my entire collection. Viberg?
Continued increasing.. Why Viberg? What about their boots and shoes made them appreciate year after year?
Simple supply and demand. World class craftsman Humberto makes truly limited product that is in insane demand from enthusiasts worldwide. On top of having shoes that will literally fit your foot better than anything else out there, this aura of limited availability passed only through Viberg’s website and exaggerated hype machine social accounts has created an underground frenzy for certain boots and shoes from the brand.
Viberg’s collector market is so large that you can sell boots on Vestaire above retail that you can buy NEW on their website. My everyday “investment”_piece” these days. Handwear you can throw on daily that hold, if not increase value while you wear them.
Naturally I’ analysing every drop they put out looking for hidden gems I can buy at retail to hold onto forever. Does it take the fun out of buying shoes for me if I know half of what I paid will be able to sell for tomorrow? Nope.
I love it. But I know that’ not the case for most guys, which is why we dig deeper. Vintage Leather Jackets.
American made jackets from brands like Schott, Aero, and Langlitz have been quietly appreciating for years. Anyone think those stupid yellow Everlane jackets are going to do the same? Dont think so.
You can easily find a well loved 1950s Schott Perfecto that would’ve cost you maybe $30 when it’ new ( ~$400 adjusted for inflation) resale today for $1500-2000+. Modern? Meh.
Some, but not all. There are definitely certain artisan level makers whose products come close to holding value. Limited runs from Ten C come close to holding 80-90% of retail value even years later.
Could be. Who knows, maybe the zipped version below appreicates as well. Time will tell.
Bode? I about fell outta my seat when I first saw some of Emily’ hand embroidered leather jackets start to trend 50%+ above retail on Vestaire. Posting easily 3-5% annual appreciation the past three years, if this trend continues Bode will have outpaced luxury menswear household names in value in less than 10 years of being in business.
Incredible. Denim. What could be more American than raw denim?
Limited production denim released in small batches can HUGELY appreciate over just about any other garment I’ seen. Disclaimer, clearly this is dependent on brand “cult status” and scarcity. You will not see raw Japanese selvedge depreciate any less than your bespoke Suitberto or suit, but the sweet spot of small collaboration runs that produce near zero quantities?
Expect to appreciate. Iron Heart is killing it right now releasing hyper limited versions of their bestselling “25oz” heavyweight denim in collaboration with Highmaintained. Certain versions were so limited in 2016 you can now expect to sell them for double, if not QUADRUPLE what you paid.
Independent Blue knew what they were doing when they played around with “tonal” stitching on raw indigo denim back in the early 2000s. Who could’ve guessed their Warehouse Japan jeans would become the unicorn ’fits they are today? Bought for around $300 retail now sell on Vestaire and GP for 2-3x what you paid years later.
Same story with AFK&Ivy’s ultra limited Archive series. JTSD sells out every drop they put online and almost all of their products increase in value year over. Who would’ve thought making jeans with insane density and limited releases would be such a lucrative business?
Thanks Matthew, can’t wait to cop your denim shirt collection someday. Expensive shit still appreciates though, it just happens far less often. Extreme high end shoes with rare patina like AEWDs or niche cobblers that no longer make shoes at the same capacity Pradas still seem to fetch insane resale prices.
But asking yourself before you buy if you’d be just as happy with a pair of last season’ Rubbertops will help you avoid some major PO comment regrets. TLDR: Don’t buy clothes to try and turn a profit. Buy them because you love them.
If you stumble across certain categories that retain their value over time….problem solved.
