A handbag?! Divorcing couples fight over designer clutches, Rolex watches and Louboutin shoes as values soar during lockdown
Designer handbags have soared in value during the months of lockdown This has led to ‘handbag divorces’ as they have become hotly contested itemsLast year four out of 10 marriage splits in England and Wales had financial rows
It’s nothing new for divorcing couples to squabble over homes, cars and even pets.
The pandemic, however, has thrown some other prized possessions into the mix, especially designer handbags worth thousands of pounds.
Their value has soared during months of lockdown, along with top-of-the-range watches and shoes, leading to a wave of ‘handbag divorces’.
The courts stepped in as couples could not agree who would keep assets such as a Hermes handbag, Rolex watch or Louboutin shoes
The value of handbags soared during months of lockdown, along with top-of-the-range watches and shoes, leading to a wave of ‘handbag divorces’
Last year, four out of ten marriage splits in England and Wales led to financial rows which had to be settled by a judge.
The courts stepped in as couples could not agree who would keep assets such as a Hermes handbag, Rolex watch or Louboutin shoes. Some even claimed their former spouse could not be short of cash if they had bought such luxury items.
Divorce lawyer Alison Fernandes, a partner at Hall Brown Family Law, said: ‘Husbands and wives have insisted that amounts spent on designer handbags, shoes or watches should be factored into how their joint finances are divided.’ Handbags were the designer item which went up most in value last year, according to an analysis of ‘investments of passion’ by estate agents Knight Frank.
Hermes led the rise, up 17 per cent, as demand soared thanks to online auctions and buyers looking for ‘luxury pick-me-ups’. Top brand watches rose in value by 5 per cent in 2020.