Angelika Hellweger of Rahman Ravelli considers why criminals are increasingly targeting designer bags – and the most appropriate response.
It used to be the case that handbag snatches were carried out by opportunist thieves hoping to find something good in them. But now the handbags themselves are proving attractive to criminals.
London, Paris and Milan have become the hotspots for those seeking to commit robberies and burglaries involving luxury handbags. Heists involving designer bags with total values in the millions of euros have become increasingly popular with criminal gangs who are becoming increasingly violent and now view such goods as being at least as attractive as traditional targets, such as jewels or cash.
The global demand for designer goods - combined with the rise of brand-touting social media influencers and skyrocketing prices for the most coveted bags - has made such items appealing to those involved in organised crime. Luxury watches can have years-long waiting lists for the most sought after designs, and now the same trend has developed with high-value handbags. With the late singer Jane Birkin’s Hermès bag selling at auction for €8.6 million (£7.4 million) recently, it is clear that handbags can now be placed among jewellery, art and antiques as high-priced, desirable status symbols.
Which is all well and good for their owners - until someone has their status-heavy handbag stolen.
Appealing
While designer bags are high-value goods, they can be especially appealing to thieves as they – like jewellery and watches – are small, lightweight, and easy to transport, even across borders. And, also like luxury watches, the resale price can often be double to triple the original price. Handbags can be seamlessly integrated into the resale market, which is something that isn’t always so easily done with art or antiques. Online platforms can provide a convenient outlet for fencing stolen goods. Some, like Instagram, enable thieves to profit from their ill-gotten gains quickly - leaving unsuspecting (or unquestioning) buyers unsure about the exact history of their newly-purchased, high-priced bag.
It is a situation that should serve as a stark reminder to those possessing high-value handbags (and other luxury assets) to reassess their security measures. High-value assets are symbols of status but also carry significant risks. The recent incidents of handbag theft (and the stealing of other luxury goods) are an indicator of the need for both comprehensive insurance and proactive measures to safeguard possessions.
This includes being careful on social media posts – there needs to be an awareness of the dangers of showing off luxury handbags , jewellery and watches to the whole world. Regular auditing of personal and residential security systems, investing in advanced technologies and ensuring assets are catalogued and insured are all recommended steps. Collaboration with trusted security firms and insurers can offer peace of mind while deterring potential threats.
Responses
The increasing number of incidents of luxury items being stolen has led to suggestions regarding all sorts of possible responses. One is assessing the accountability of social media companies in such thefts (although this could prove extremely difficult), another is greater use of innovative tracking technology.
Enhanced international cooperation and the strengthening of enforcement measures to combat organised crime have also been proposed; as is often the case when considering how to tackle new developments in criminality. And in some circumstances where bags (or other high-value items) are taken, even employing asset tracing and recovery techniques could pay dividends.
Designer handbags may well be the latest hot item in terms of high-value theft. But the correct approach to ensuring you are not permanently deprived of such a treasured possession remains the same as it always has been. Being protective and, when necessary, proactive can bring rewards.
