From handbags to sneakers to gowns once worn by Marilyn Monroe (and Kim Kardashian), special fashion items are fetching millions at Sotheby's, Christie's and more.
According to Josh Pullan, head of the global luxury division at Sotheby's, there are a few different motivations driving purchases: There are people treating fashion items as "pure investment," others buying to actually use or gift, then those "looking for that hero piece that gets put on a shelf or in a perspective box and is revered as a trophy that never gets used." Sometimes, there's a personal connection.
Regardless of people's motivations for coming to an auction, one thing is for sure: Clients are consistently buying, which is a healthy indication of the market's faith in these assets' longterm value. Not only that, "we see value increase overtime," Pullan says. When it comes to apparel, bidders seem to be swayed by whether a garment hung in a famous person's closet.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mariah Carey sings Christmas duet with daughter Monroe at Toronto concertThe audience went crazy after Carey and her 11-year-old sang the holiday classic 'Away in a Manger.'
Read more »
Mariah Carey twins with mini-me daughter Monroe for first Christmas duetThe pop star invited the pre-teen to perform with her at her “Merry Christmas to All” show, where they performed their first ever duet.
Read more »
Mariah Carey Sings Duet with Daughter Monroe at Toronto ConcertConcertgoers at Mariah Carey's show at the Scotiabank Arena in Toronto were in for a special treat Friday night when she brought her 11-year-old daughter, Monroe, to the stage.
Read more »
Kim Kardashian feels ‘fulfilled’ in new beach snap with her kidsShe and Kanye West finalized their divorce in November and agreed on joint custody with “equal access” to their four kids: North, Saint, Chicago, and West.
Read more »
Dogs gifted by North's Kim resettle in South Korean zooTwo white Pungsan hunting dogs gifted by North Korean leader Kim Jong Un to South Korea's former president four years ago ended up at a zoo in South Korea after a dispute over who should finance the caring of the animals.
Read more »