For the ages
Enter an era of investment buying for the heirlooms of the future – but what to invest in?
Areturn to meaning has been a side effect of a world disrupted – what to grasp onto when all recognisable touchpoints disappeared? The reliable tried-and-tested and the hunt for deeper purpose had characterised both this period and the fashion realm, which has instigated an overhaul of our shopping habits. “We live in a world of uncertainty and we want to start and create our own traditions,” says Nicolas Luchsinger, president of Van Cleef & Arpels Asia Pacific, who believes in the power of jewellery to last several generations. Heritage jewellery is a category that, along with high-end watches and luxury, has performed relatively well compared to other fashion sectors, against the pandemic-instigated odds, according to a report by McKinsey & Company. Data gathered from the 20 million-plus members of luxury resale site The RealReal in its 2020 Resale Report showed investing in pieces that carried deeper meaning and aligned with our personal values became increasingly important.
After a period of reflection, it seems we are perfectly poised to make bigger investments. Having taken a step back from living in the present, to look back, to look forward, we have begun to ask what will be the legacy we leave. So, what to buy? Which pieces will live on beyond us? With the help of some experts, and a few lessons from the past, Vogue has distilled a guide to building a legacy, one perfectly crafted piece at a time.
Treasured jewellery
Fine jewellery is fertile ground for finding future heirlooms for the pure fact that it has forever been used to mark momentous occasions, not to mention the recent trend towards self-gifting, while big-ticket discretionary holidays overseas are off the cards. With the rising consciousness among consumers about how long what we buy will last, jewellery ticks all the boxes, as Luchsinger observes. “[It] can easily last for several generations … What is more beautiful and meaningful than passing down a piece of jewellery dear to the person and witness to many happy moments?” With the French house ranking as the number-one jewellery brand by resale value in The RealReal’s 2021 Luxury Consignment Report, its core collections, like the instantly recognisable four-leaf clover-inspired Alhambra collection that dates back more than 50 years to be worn as a talisman of luck, is an obvious safe bet.
Similarly, Cartier’s icons, as the jeweller refers to them, have outlived passing decades. Though classic in design, it is no accident that two of the maison’s most legendary of these lines, the Trinity and Love collections, dating to the 1920s and 70s respectively, were created with sentimentality – romance and loyalty in particular – in
mind, with Love creations famously bolted to a lover’s wrist. Marking personal stories now – marriages, declarations of love – will inform a family history for generations. But aside from the established eternal pieces like these, what if, like Elizabeth Taylor’s love affair with all things laden in precious gems, the subtle is not your taste? What to bet on then?
“Quality,” says Luchsinger. “One can always trust the quality of a signed piece.” Which solves the conundrum for those whose style sensibilities lean more flamboyant, and for whom discreet jewellery doesn’t thrill. He acknowledges classic design to outlast fashion shifts is best, but “one can go completely crazy and perhaps the piece will be out of style for a certain time but come back and be all the rage again.” As long as the quality is there, it will endure.
Forever clothing
It makes sense then, that our wardrobes are also reflecting this contemplative mood, with pieces bought to be handed-down to future generations. “People are more mindful about their purchases. They are buying better rather than buying more,” confirms Tiffany Hsu, fashion buying director at MyTheresa. With disposable fashion falling out of favour, what truly is an investment piece – be it clothing or a handbag? If the top 10 brands in the The RealReal’s current Luxury Consignment Report is anything to go by, heritage houses reign supreme now in the most-sought after accessories (Hermès’s Constance and Kelly bags, Louis Vuitton’s Pouchette have a strong presence unsurprisingly) but ensuring we’re investing in tomorrow’s treasures, created by designers today, is harder to decipher.
One way is to look at what labels are adding to their core offerings – if they’re carrying over a shoe or bag style or design detail from one season to another. Case in point: Bottega Veneta still carries its Stretch sandals that debuted almost four seasons ago for pre-fall 2019, and bags with creative director Daniel Lee’s tenure-defining ultra-large rework of the house’s famed intrecciato weave. The extreme examples of this are styles that have lived on for decades, including Dior’s icons like the Bar jacket with its elegant simplicity carried over from 1947 to the present on the likes of Bianca Jagger and Charlize Theron – and the Lady Dior bag, carried by its namesake Princess Diana (commissioned from Dior by the then-wife of the Paris mayor, and gifted to the princess in 1995). Each of these are created to the highest standards – today, a Lady Dior will take eight hours and 130 pieces to complete. Pieces with both an ease, and an elevation.
“The keyword is timeless, and understated luxury,” says Hsu. “It’s all about wearability and quality these days.” To add to a shopping list now, she suggests:
“Chunky cashmere knits, tailoring by Jil Sander and The Row, fine jewellery by Eéra … All these items are of outstanding quality and manage to put a modern twist on essentially classic pieces.”
Timeless timepieces
If a once-in-a-lifetime purchase is on the cards, look no further than your wrist. “Today, watches are part of the rare objects that are designed to last for centuries,” says Sebastian Vivas, heritage and museum director at Swiss watchmaker Audemars Piguet. He cautions that it is impossible to predict which watches will be most prized in the future, pointing to the watchmaker’s Royal Oak that caused a stir in 1972 with an unconventional octagonal bezel, but is a classic now. Instead, be guided by the heart. He advises people to “buy a watch with which they have fallen in love. The emotional and personal aspect also contributes to creating value in an object.” The second thing to consider is the brand – “ideally one with a rich history, renowned savoir-faire and strong recognition”. While the third aspect is practical, it is no less important: “a mechanical watch,” he emphasises, so it can be repaired over time to maintain its value.
Another important consideration is ageing – a natural patina is good, decay is not. A fading face (sometimes known as ‘tropical’) can be considered desirable. “If the watch is correctly maintained,” he says, “[It] can become more beautiful over time.” Upkeep is key, keeping it away from humidity and free of rust, which can spread unless stopped by a watchmaker. Expert assessment, every five years, by a qualified watchmaker, will keep it ticking past a lifetime but, Vivas says, don’t be tempted to skimp on maintenance. “In 80 per cent of cases, damage was caused by non-authorised watchmakers who worked on the piece … A movement lives,” he says. And, as with all heirlooms, will live on, if handled with care.