Collector Julia Kovaljova talks handbags as an investment

AS: What inspired you to start collecting handbags? 

JK: I was always interested in fashion, and I believe that shoes and accessories are the key to any look. There is no more important accessory than a handbag – not only is it your major styling element, it’s also a daily necessity.  

AS: Do you have a favourite brand? 

JK: Hermès, of course! Its styles transcend fashion. Occasionally I will also buy a rare Chanel limited edition bag or clutch. 

AS: Do you remember your first Hermès bag? 

JK: Yes, it was a 32cm Kelly bag in orange, the brand's signature colour. I thought it would be appropriate to start with an iconic colour and style, named after HRH Princess Grace of Monaco. Even now, this style remains my favourite. 

AS: Do you have vintage bags in your collection as well as new editions? Which do you prefer, and why? 

JK: As an experienced collector, I am no longer interested in regular Kelly, Birkin and Constance handbags. But every year Hermès reissues and updates these styles, with a new leather, a new combination of materials, an interesting colour or pattern, skin inserts, appliqué or a theme. These are the bags I try to get for my collection. Vintage, though, is my special love because I enjoy the whole process of searching for them. They were issued a long time ago, in limited quantities, and will never be produced again, which makes them very valuable. To find such a bag in good condition and for a good price is the biggest joy for a true collector. I have some vintage bags that I only bought just a few years ago, but which have already doubled in value. 

Above: Julia Kovaljova models one of her favourite Kelly handbags 

AS: How many bags do you have in your collection now? 

JK: If we are talking about classic styles such as the Kelly, Birkin and Constance, then around 100 pieces. 

AS: Which is the rarest or most valuable? And which is your favourite? 

JK: The rarest are probably the Kelly Picnic and Kelly Teddy, the most valuable right now is a Birkin Himalaya (see page 93), and my favourite is a vintage Kelly from 1992 in simple black box leather. It was customised to my design by the artisan who used to manufacture these bags for Hermès.This bag is the only one in the whole world – a collector from Asia spent a long time trying to persuade me to sell it, but I could not do it. 

AS: Is there a bag you don’t have that you really want? 

JK: There are lots! Mainly bags from limited editions or vintage pieces such as the Kelly So Black created by Jean Paul Gaultier or the Kelly Dalmatian. To be honest, with my experience and connections, I could have secured these bags on the secondary market by paying a high price, but as a true collector, I would always prefer to make a good deal! 

AS: Do you view your collection as an investment or something to enjoy and treasure? 

JK: When I started buying Hermès handbags, it was purely for the joy of owning them. Over time, however, I began to realise that they were also an investment. Of course, just as in the art world, not every piece will become more valuable and as a collector it’s important to understand how to create a collection that will become more valuable over time. 

AS: You are active on social media. Is that an important aspect of your collecting? 

JK: Absolutely. I have around 40,000 followers on Instagram (@julia_kovaljova), many of them interested in or connected with the Hermès brand, and many collectors worldwide. I get a lot of requests for help and advice, including on how to identify a fake – sadly there are a lot of counterfeits on the secondary market – as well as offers of rare bags.