Worried about Wall Street? Buy a Birkin

Why have one Chanel when you can have two?
Why have one Chanel when you can have two?


Concerned about Wall Street’s crazy day? Richard Kirshenbaum, LLNYC’s favorite critic/ad mogul/ member of high society, has some advice: invest in a Chanel bag.

Last week, he observed some things in the Observer about super rich people using designer handbags as currency. What does that mean, exactly? One socialite, nicknamed “Second Wife,” explains:

“Let’s say a woman is getting a divorce; a Channy bag or a Birkin is definitely on the list of things she can sell. I have plenty of friends who go on a shopping spree at Hermès before the big split happens. You know the croc ones are big money.”

In other words, don’t worry if you have an unfavorable prenup: you can always resell your Birkin and you’ll probably be better off than the wife whose husband gave her Chinese yen.

Kirshenbaum performed all of the “research” for the piece from the beaches of St. Tropez and Capri over “lemon risotto on the terrace of Faraglioni,” while observing lovely locals decked out from head to toe in Chanel. But really, all he had to do was watch “Queen of Versailles,” in which the world’s favorite 1%-er, Jackie Siegel, observed that she could always sell her expensive bags if she ever went broke. Who knew she was so savvy?