How Christina Ricci’s Financial Investment Tactics Saved Her During 2020 Divorce
Don't just bag any old handbag — make your next investment piece a luxury item that gets richer with age.
Going through a divorce is one of the leading causes of stress, and anyone who has gone through the system (or has seen Marriage Story, at least) knows it’s not just an emotional disaster, but a financial disaster as well.
Celebrities are not exempt from the damaging recourse that comes from going through a divorce, no matter how many times they may do so.
“Just like us,” they may grapple with shared financial accounts, luxury assets, stock portfolios and more, which can take time to divvy up depending on the situation.
When a situation is really bad, what’s a girl to do? Think like Christina Ricci and start investing in accessories that could bring big resale bucks in times of trouble. Like her collection of Chanel bags and jewelry, for example.
In an interview with Sunday Times Style, Ricci explained that she had to sell some of her personal items in order to help fund her 2020 divorce from James Heerdegen.
“But doesn’t she have millions of dollars?” you might be thinking. No one would argue that the Addams Family actress is a poor and unfortunate soul. However, paying for a divorce isn’t as easy as pulling out lawyer fees from an ATM.
“Certain traumas in life go along with financial traumas, extended court situations, custody situations [and] fighting restraining orders,” Ricci elaborated in the interview. Depending on the situation, financial assets during a divorce can be frozen, inaccessible, or require legal mediation in order to be withdrawn.
So Ricci got creative with what she had. Having been in show business since she was young, hamming it up in films like Mermaids alongside Cher and Winona Ryder, Ricci presumably has accumulated wealth in other ways.
“I had quite a Chanel handbag collection for a while, but I sold a lot of things,” she explained to Sunday Times Style.
A true fashion icon, Ricci would have likely purchased her purses for reasons beyond just the trendiest look.
“Handbags are the better investment,” Jessica Henderson, a Senior Curator at FASHIONPHILE, stated for CNBC Make It. “It’s all about ensuring you’re being selective and discerning with what you choose to buy in this climate right now.”
It’s one reason why Hermès Birkin handbags are in such hot demand, with a wait-list and price tag to match. According to an article in TIME from 2016, the true luxury bags, start well beyond the $60,000 mark, “are made in limited numbers and are not advertised.” Some of them have sold at auction for as high as $380k.
As a result, their value as luxury items are worth far more than a mass-produced Coach bag which anyone can pull off the shelf. TIME reported that in some cases, a Birkin could be worth more than the price of gold.
The value of Chanel handbags is similar, and has continued to go up. According to Bloomberg, a June study from Credit Suisse Group AG showed that Chanel bags rose in value by 24.5% from the previous year.
Ricci’s decision to sell her handbag and jewelry collection was a smart move on the personal investment front. She wouldn’t have needed legal permission to do so, and she likely had access to them in a way that ex-husband Heerdegen did not.
The bag itself, combined with the famous owner, would have provided enough for Ricci to stay afloat independently when she needed to work through the healing of the relationship, which she alleged was abusive.
So the next time you’re thinking about picking up some fancy bling, consider how it might appreciate in value later on. And maybe instead of a diamond engagement ring, ask your partner to spring for a Birkin.