Can Luxury Bags Be Smart Investments?

When Meg Randell started her career as an auctioneer a decade ago, many of the clients she met with were used to selling traditional assets like old paintings or antique ceramics, and never thought the bags sitting in their closets could prove as valuable.

Yet today, the auction house regularly sells Hermes and Louis Vuitton bags for thousands of pounds at auction. Rare editions can fetch even more: in July, Bonhams sold a well-used Hermes…