STYLE ASSEMBLY SPOTLIGHT
Danielle Prescod’s Luxury
Investment Strategy
By Isabelle E, Oct 27, 2021
Meet Style Assembly member Danielle Prescod.
When it comes to investing in luxury, Danielle Prescod is someone we trust for guidance — just look at her Rolex. So when our 2021 Clair Report was released earlier this month, we knew Danielle was just the person for the job of our seventh Style Assembly member. This month, we talked to Danielle about all things luxury investments…
and asked her to curate a collection of Rebag accessories perfect for resale beginners or designer veterans.
Danielle Prescod has always been a luxury consumer. The seasoned fashion editor and former style director only recently considered shopping luxury as an investment when she bought her first Rolex. With years of experience and an incredible designer arsenal to match, we tapped Danielle to join Rebag’s Style Assembly for October because it just so happened to be when our 2021 Clair Report was released. Our annual report highlights the most valuable brands and accessories so that you can invest wisely in the luxury market. With our data and Danielle’s expertise, you’ll be on your way to mastering luxury investment perfection. Read on to learn Danielle’s tips and tricks, her fashion beginnings, and her favorite findings from the Clair Report.
How did you first become interested in fashion?
Danielle: I became interested in fashion because I had to wear a uniform every day for school. It became a really high stakes situation for me to pick my own clothing. And I began to get very strategic about expressing myself through my clothing.
How does the fashion scene in New Orleans compare to
New York?
Danielle: Haha! There is NO fashion scene in New Orleans. It is really about staying as cool as you can. This humidity is no joke.
Do you remember your first luxury investment piece? What was it and how did you acquire it?
Danielle: I have always been a luxury consumer but I never really thought of anything as an investment until I bought myself a Rolex for my 30th birthday. I bought it consigned to correspond to my birth year. After that, I bought two tennis bracelets and got one as a gift. A horse ate the third so now I only have the two. I always look for consignment or resale as a first option before going into a store. The idea of buying something brand new does not sit right with me when there are so many wonderful well-made products that exist already.
What’s your favorite part about shopping second-hand luxury?
Danielle: When you buy something luxury, the idea is that it is constructed to such a standard of quality that it can last many years. That’s why I don’t like to shop for new things because a good designer bag or piece of jewelry should be able to last a lifetime.
What is your biggest tip when it comes to investing in luxury?
Danielle: Do not ever get anything you are afraid to take out of your home. Clothes, shoes, bags, jewelry, etc., are meant to be worn! If you are afraid to wear it, why do you own it? Nothing should be too precious to be actually lived in.
Which item in your closet is your best investment?
Danielle: It’s not a super high monetary investment, but I bought a pair of Chanel sneakers last year that I wear literally all the time.
What is one of the most surprising learnings you found in our newest luxury resale resource, the Clair Report? And why?
Danielle: I would expect everything that was printed in the Clair Report. Luxury items should increase in value but I don’t buy things with the intention to “flip” them. I buy things because I like them but in the event that an item no longer serves me, I do resell it.
Of our Clair Picks, the most investment-worthy styles for 2021, which one would you invest in next?
Danielle: Cartier jewelry.
You curated a fabulous collection of luxury investment pieces, can you share your top five favorites with us, and why you chose them?
Danielle:
- So many of my friends are having babies that I am always on the lookout for unique baby gifts. What says “Welcome to the world, baby!” better than a Celine bear?
- As a proud horse girl, I am obsessed with all things Hermès but this is such a cute way to represent your hobby. I keep mine on my boot and helmet bag.
- I carry this bag as my airport bag. Since it’s made of nylon, it is easy to clean and I don’t worry about it getting a little beat up in travel.
- This is just a fun bag and I love a luxury find that’s under $1000. Great for the winter months and an après ski vibe.
- A special Chanel bag is the perfect way to pull a look together if you do have an event to go out to every now and again. I am a Leo so sequins are love language of mine and the fact that this bag is non-leather makes it a little more affordable than a traditional Chanel bag.
