Meryl Streep and Anne Hathaway returns as Miranda Priestly and Andy Sachs in The Devil Wears Prada 2
Image: The Walt Disney Studios
When The Devil Wears Prada strutted onto cinema screens in 2006, it wasn't just the performances of Meryl Streep and Anne Hathaway that captivated audiences, it was the wardrobe crafted by costume designer Patricia Field.
With an extravagant budget surpassing R6.77 million for Chanel alone, the film set a high bar for fashion in film.
Today, however, the conversation has shifted from the glitz and glamour to the resale value of these now-cherished pieces.
The ultimate question: what is the worth of couture in the pre-owned market?
Michael Zahariev, co-founder of Luxity, took a deep dive into the film's wardrobe, unveiling insights about how the landscape of luxury fashion has evolved.
“The pre-owned market is the great equaliser,” he said.
“The pieces that once felt out of reach are now accessible. The question is knowing which ones are worth pursuing.”
But how does one distinguish between timeless glamour and fleeting fashion?
Sales data revealed a stark reality: four out of five pieces from the film have depreciated in value since their runway debut.
This is not indicative of their quality but rather highlights the inherent differences between fashion as a product and fashion as an investment.
“Not all luxury is equal,” Zahariev said.
“The pieces that hold value are built on heritage and scarcity. The ones that depreciate are often the trendy items, still beautiful, but just less viable in the long run.”
Luxity’s State of the Luxury Market in Africa report underscores these observations, illustrating that items with a legacy of craftsmanship and controlled scarcity consistently outperform their contemporaries.
Leading the pack is Cartier, holding 72.6% of its retail value, followed closely by Hermès at 67.8%, with Chanel commanding 64.4%.
Notably, the Hermès Collier de Chien bracelet has bucked the trend, actually gaining in value due to its brand reputation for excellence and endurance.
All current resale values are indicative estimates in ZAR, sourced from global pre-owned luxury platforms including Luxity, The RealReal, Vestiaire Collective, and 1stDibs.
Image: Supplied.
The present moment is an opportune one for aficionados of luxury fashion.
Many items from the film are now available for significantly less than their original retail prices, making them more accessible than ever.
However, as the sequel to The Devil Wears Prada generates fresh excitement around the original film, the resurgence in interest could soon inflate resale prices.
According to Zahariev, the smart strategy is simple: buy now, buy intentionally, and differentiate between items that are merely visually appealing and those that will retain value.
As the pre-owned market offers a rare chance to own a piece of one of the most iconic film wardrobes of the last two decades, Zahariev urged caution amidst the allure: “In luxury, beautiful and valuable are not always the same thing.”
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