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    Upping Your Fashion Net Worth

    The biggest shopping season of the year is moments away and we know everyone is hyper-sensitive about the best way to spend their hard earned money. We have grown so tired of hearing fashion editors, stylists and retail sales associates go on about “investment” pieces that we thought it would be a good time to actually research the topic.

    It’s hard to believe that a great pair of skinny jeans or a fitted jacket is a good investment, no matter how good they look. A true investment turns a hard cash profit. Truthfully, fashion is like a great car that depreciates the moment you drive it off the lot. There’s not a lot of items that will hold much value once you walk a mile or even cut the tags. There are some items, however, that do tend to hold their value better than others.

    Basically, items that are limited in quantity or produced from iconic fashion houses tend to hold the best value, according to Corri McFadden, who owns Chicago-based eDrop-Off, the second largest seller of luxury goods on eBay. eDrop-Off sells about 1000 items per week on eBay but the items that hold their value best are Chanel, Hermes and Louis Vuitton.

    Corri laughs that some of her clients’ closets are worth more than their husband’s stock portfolios. “A mother of five children might love Hermes, but how practical is it for her to own five Birkin bags?” she says. “I might suggest that she sell three and spend the money on items that are more useful to her daily life.”

    In addition to the bold name French fashion houses, some fast fashion collaborations have held their value. “Jimmy Choo for H&M still sells for above retail,” Corri says. “Lanvin for H&M is going to be a good one and even some of the Target lines have shown great resale values.”


    Tammy Fluhr-Gates, a third-generation family member of the famous Madison Avenue consignment store Michael’s, agrees with Corri, “Chanel, Hermes and Pucci are always popular brands.” It’s the classic and distinct style that has kept Pucci relevant through all this time. “When you want Pucci there’s only Pucci.”

    “Some very well known designers who have fallen off in the secondary market are Armani and maybe Valentino and Versace,” Tammy says. The reason why these icons have decreased in value is unknown, but it’s clear that they aren’t as desirable as they were in decades past. The great thing about fashion is that they can always come back.

    When it comes to jewelry, Divorce Your Jewels‘ Missy Schorr has helped clients unload everything from a 12-carat flawless diamond to scrap gold. Her advice is to stick with full cut diamonds and colored stones. Jewelry with semi-precious stones and pave diamond settings are very hard to sell. You want to buy 18-karat gold jewelry and find stones that come certified with GIA papers, Missy advises. Brands like Cartier, Harry Winston and Van Cleef tend to maintain the best value of the high-end jewelry houses.

    When it comes to watches, even the ladies should go for the men’s styles. Men’s watches hold their value better than women’s, Missy advises. The Rolex Daytona, Patek Philippe and Audemars Piguet tend to hold their value best.

    Like all designer items–from bags to watches– Missy suggests, holding on to boxes and paperwork. “The more information you have, the better off you are.” We would say those wise words hold true with all investments.

    Madison Avenue Round-up Part 1

    For the past few weeks we have been uncovering the best discounts along Madison Avenue. As Thanksgiving approaches, the discounts are about to get more attractive. Below is a list of current and upcoming promotions that haven’t been mentioned. Click here to see a list of all of our Madison Avenue stories, which include Gucci, Valentino, Dior, Missoni, Prada and Sigerson Morrison.

    Chloe:
    The sale doesn’t officially start until Friday but you can preshop the discounts now. Shoes, clothing and a limited variety of bags will all be discounted 40% off.
    Gisella 212-717-8220

    Lisa Perry:
    For Black Friday all black dresses will be discounted 30% off. We don’t know if that means solid dresses–does the store even sell solid dresses–or if any dress with black detailing is included in the markdown. If you find yourself in a color dilemma, wait until December 1 and receive 20% off as part of a Shopafrolic event with Liz Lange and Jane Wagman. We can’t get enough of the little girl dresses or the hoop bags.
    212-334-1956 or esty@lisaperrystyle.com

    Michael Kors:
    The prefall collection is already reduced 50% and winter merchandise will be marked down the same amount following Thanksgiving.
    Tony 212-452-4685

    Marni:
    Presale has not yet started but we hear that the markdown is coming soon. The first discount should be 30% but a 50% price reduction usually comes shortly later.
    Dana 212-257-6907

    Norma Kamali:
    The Norma Kamali Black Friday sale will begin Wednesday. We hear that there will be seriously good deals. Select merchandise will all be priced $200 and under– with most in the under $100 range. Sleeping bag coats in pink, cinder and cloud will be $125 to $175 from $650. (Perfect for keeping warm during the parade.) Silk satin gowns that were originally $2700, will be marked down to $200. The promotion takes a break for turkey day but will resume Friday.
    212-957-9797

    YSL:
    Presales will begin next week and the discount should be 30% to 40% off, depending on the item. The 57th Street location is plush with merchandise. We also hear that other locations will be transferring their merchandise to NYC too. We have a feeling there will be super discounts come January/Feb.
    Everest 212-980-2970

    Saks Presale Begins

    For the first time in many seasons, consumer confidence is returning to the department store. Investors and analysts unanimously agree that Christmas 2010 will be the end of declining luxury sales. Unfortunately, consumer optimism translates into a more cautious discount season.

    Saks Fifth Avenue still seems to be settling their Black Friday shopping incentives. For now, you can shop the eighth floor, designer shoe presale, where the markdown will officially be 30% Friday morning. In the contemporary department, fourth floor, items that are already discounted 40%, will be an additional 50% off until noon Friday. (There’s really not a big selection but the markdown is substantial.)

    Third floor, designer clothing is still a mystery. We imagine that there will be 30% markdowns on some designers, like Oscar and St. John and maybe Dolce. We hear that many more collections will be added to the discount list starting December 7.

    So the plan is to be patient and wait. Good deals exist even in the best of times. Everyone would agree Winter 2010 might be an improvement but it’s still not 1997.

    Contact: Fifth Avenue Club (Eric) 212-753-4000

    December Opening of Dior 57th Street

    We have received conformation that the remodeled Dior boutique will be opening on 57th Street on December 9. At that time, the Madison Avenue store will close.

    In light of the big move, Dior sales associates are unsure of this season’s sale schedule. We are told, all the merchandise from Madison Avenue will move to 57th street but can’t imagine the boutique moving an old collection. Some sales people say the markdown period will be truncated and start on December 1. Other Dior employees speculate, there will be no boutque sale and the winter merchandise will be swiftly shipped to outlets.

    Needless to say, we will be following the fate of Dior’s winter 2010 merchandise and the new boutique opening. I think it’s fair to say that we will all miss the Lady Dior scaffolding… and the Madison Avenue boutique.

    Contact: Jenny 212-249-5822

    Gucci Sale @DSW Union Sq

    Last week we uncovered a fabulous $99 Gucci sale on DSW.com. This weekend, we sent spies to Union Square to survey the physical merchandise.

    Our spies report that the store is packed with designer shoes and replenishments are occurring frequently. “It’s amazing! People are buying tons of this Gucci stuff and they keep coming out with more,” observed our Gucci obsessed shopper.

    We are told that the sale will continue until the merchandise runs out. We suggest you don’t wait too long. The steady supply of Gucci can’t last forever.

    DSW Union Square
    40 East 14th Street
    212-674-2146
    Holiday Hours 11/21 thru 11/27:
    Sun. 10am-8pm, Mon.-Wed. 10am-9:30pm,
    Closed Thanksgiving, Fri 8am-9:30pm, Sat 10am-9:30pm

    Sigerson Morrison Pre-Thanksgiving Sale

    Sigerson Morrison Lab/Boutique is hosting a pre-Thanksgiving sale. Select merchandise has been reduced to 40% off. Red suede booties are $297 from $495 and polka dot flats are $270 from $450.

    The sale list is expected to expand as the holidays approach and styles are deemed discontinued. Check back often, in the case that there’s an item that has your heart.

    Sigerson Morrison Lab/Boutique
    19 East 71st Street
    212-734-2100

    Montblanc Friends & Family Sale

    Montblanc’s “private” friends and family sale is always a great place to pick up stately gifts without spending a mint. This sale is usually a reader favorite. You can always count on legitimately good deals, like $600 fountain pens selling for $150 or $1,000 leather bags marked down to $250.

    The sale is only two days and starts Monday. There aren’t usually any lines, the sale is well organized and the staff is helpful. See, that’s a sale we can dig.

    Montblanc Friends & Family
    Mon., Nov 22 and Tues., Nov23
    Monday 8:30 am to 5:30pm, Tuesday 8:30 to 4:30pm
    Roosevelt Hotel
    45 East 45th Street (45th and Madison) @ Vanderbilt Suite

    Gucci Presale

    The Gucci presale is scheduled to begin Friday, November 19. We hear that most bag styles will be discounted by 30%. Shoes and ready-to-wear will be 40% off.

    We will post the online private sale link as soon as it’s received. Items ordered during the presale will ship when the sale officially begins, on November 30th. Last year, a second markdown occurred just two weeks later and the discount went to 50% to 60% off shoes and clothing.

    Update: Here is the Gucci.com presale link.


    Contact: Nora 212-717-2619