Splurging on a designer handbag with a hefty price tag is an exciting yet daunting event that most of us can relate to. Unfortunately, looking back and realizing you wasted a pretty penny on something that is out of style is also an all-too-familiar occurrence. Sometimes, you just get tired of your once-coveted purchase. If you shop wisely, you can make your money and then some. A designer accessory is an investment, and if you don’t have the insider knowledge beforehand, you might be making a serious mistake.

Take the Chanel Jumbo Double Flap for example. The classic style hasn’t changed in the past 10 years, but the price certainly has. In just under a decade, the price of the Chanel Jumbo Double has increased by nearly 350%. Anyone who bought the iconic quilted lambskin bag in 2006 is feeling like a pretty savvy investor – and a stylish one, at that. Thankfully, Sarah Davis, founder of the leading luxury resale site, Fashionphile.com, is spilling the expert secrets on what, where and how to invest in fashion like the pros:

• Stick to Accessories: nothing retains its value like a designer accessory, especially handbags. Clothing and shoes don’t age well and quickly go out of style.
• Trends vs. Classics: stray away from trendy pieces and crazy styles. For a piece that will always be in style or that you can eventually sell back, classic handbags such as the Chanel Double Flap or Louis Vuitton Neverfull are a safe buy that you’ll never regret.
• Neutral Colors: no matter what the brand, go for a neutral color. Black hides wear and will always be on-trend.
• Limited Editions: if you purchase a limited edition style and hold onto it for too long, it can lose buzz and resale value. Plus, sometimes the designs are so unique that they will look dated in ten years. It’s best to skip the limited editions.
• Where to Shop: if you go the Chanel or Louis Vuitton store, they won’t have all of the styles available for purchase. The best place to shop for an investment piece is on re-sale sites, such as Fashionphile.com. Fashionphile has more Chanel than Chanel, and the vast offerings come in mint condition with tags for the best price. It’s not only the budget-conscious, celebrities and top fashion bloggers are now turning to vintage resell shops for the best designer deals and unique finds.