The Daily Telegraph - Saturday - The Telegraph Magazine

Would you buy a timeshare… in a handbag?

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When I first heard that a website called Covett was offering timeshare bags, I thought it might be a prank. But if you’ve been paying any attention to the financial world recently, you’ll be aware that (some) bag purchases have outperform­ed more traditiona­l investment­s by miles. Why not timeshare them?

Perhaps you’re hankering for a statement piece, without the eyewaterin­g outlay. The service, a collaborat­ion with fashion rental platform Front Row, is potentiall­y a way to enjoy a glam purchase that might otherwise be out of reach. Alternativ­ely, if you have designer bags you no longer use but you aren’t ready to get rid of, you could consider the timeshare model.

Covett bags are strictly high end and in perfect condition. Alongside this large Lady Dior, there’s a Louis Vuitton Petit Sac Plat, a black and white Roman Stud the Handle Bag from Valentino, an ivory leather Bottega Veneta Arco tote and several Hermès Kellys, which reliably return big on their initial outlay. There’s also a capsule of key clothes from Fendi and Prada as well as fine jewellery from Theo Fennell and Nadine Aysoy. Prices are 20 per cent of the original (plus a sourcing fee) – a share in this Lady Dior, which retails at £4,700, is £1,034.

Potential customers can approach Covett in a syndicate of five, or as a singleton. If you’re on your own, they’ll find you four other partners looking for the same or similar model. Together with Covett, you’ll work out which 10 weeks of the year you get the bag. You can book it out for a maximum of a month at a time. Clearly you have to be someone with a highly organised diary for this to work for you.

Covett takes care of repairs, cleaning and also of the insurance in case of damage or loss. If your bag goes up in value and you want to cash in, they’ll help find a buyer for your share.

It’s too early to say whether Covett will flourish and become the first of many. ‘What we do know is that there has been none of the stigma or resistance that we used to find with rental,’ says its cofounder Cynthia Morrow.

What’s interestin­g is the way consumers are now approachin­g bags as bona-fide investment­s, just as they have wine, cigars, cars and memorabili­a. ‘I love the idea of a handbag being part of your global investment­s,’ says Phoebe Chamier, senior investment manager at Female Folio by Brooks Macdonald. ‘Traditiona­l assets have performed abysmally in the past year or so, whereas a Chanel flap bag has gone up 30 per cent since in 2019, limitededi­tion ones even more.’

The lipstick I’m wearing isn’t timeshare by the way, although there are platforms offering second hand make-up, but I’m funny like that. Armani Ecstasy Shine Lipstick in Eccentrico is exceedingl­y moisturisi­ng and a warm raspberry-red that’s less harsh than pure red – a good match for the Lady Dior.

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 ?? ?? 1. Ecstasy Shine Lipstick, £32, Armani Beauty (armanibeau­ty.co.uk)
2. Chanel Timeless Jumbo Handbag, £5,900 retail value, £1,298 to share
3. Prada Symbole Embroidere­d Jacquard Fabric Mini Bag, £1,800 retail value, £396 to share
4. Hermès Kelly 32cm Handbag, £12,900 retail value, £2,838 to share. All bags from Covett x Front Row (cove.tt)
LISA WEARS Jacket, from a selection, Jane Atelier ( janeatelie­r.com). Organic-cotton tank top, £55, Ninety Percent (ninety percent.com). Tailored trousers, £220, Dai (daiwear.com). Shoes,£55, Charles & Keith (charleskei­th. co.uk). Red Patent Lady Dior, £4,700 retail value, £1,034 to share. Sunglasses and earrings, Lisa’s own
1. Ecstasy Shine Lipstick, £32, Armani Beauty (armanibeau­ty.co.uk) 2. Chanel Timeless Jumbo Handbag, £5,900 retail value, £1,298 to share 3. Prada Symbole Embroidere­d Jacquard Fabric Mini Bag, £1,800 retail value, £396 to share 4. Hermès Kelly 32cm Handbag, £12,900 retail value, £2,838 to share. All bags from Covett x Front Row (cove.tt) LISA WEARS Jacket, from a selection, Jane Atelier ( janeatelie­r.com). Organic-cotton tank top, £55, Ninety Percent (ninety percent.com). Tailored trousers, £220, Dai (daiwear.com). Shoes,£55, Charles & Keith (charleskei­th. co.uk). Red Patent Lady Dior, £4,700 retail value, £1,034 to share. Sunglasses and earrings, Lisa’s own
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