There’s a particular type of menswear salesperson I’ve encountered throughout my career—the one who, with practiced sincerity and unwavering eye contact, tells you that the $1,200 sport coat you’re considering isn’t really an expense but an “investment.” You know the spiel: “This jacket will last forever,” “You’ll hand this down to your son,” “The cost-per-wear makes it practically free.” I’ve heard it all. Hell, I’ve probably written some version of it dozens of times over the years.
But after watching countless “investment pieces” get relegated to the dark corners of closets or end up selling for pennies on the dollar at consignment shops, I’ve started asking the uncomfortable question: Which menswear items actually are financial investments in the literal sense? Not just high-quality pieces that last a long time (though that’s valuable), but items that genuinely hold or—pipe dream territory—increase in value over time?
To be clear, buying clothes primarily as financial investments is generally terrible strategy. You’re almost always better off putting that money in an index fund than a closet. But for those who love the intersection of style and collecting, there are legitimate categories where the right purchase can maintain or grow its worth while still being wearable. The trick is separating the true investment-grade items from the sales floor mythology.
So I decided to track the actual resale and auction values of high-end menswear over the past decade, consulting with vintage dealers, auction houses, and collectors to identify patterns of what truly appreciates. The results were surprising, often contradicting conventional wisdom and marketing claims.
Let’s start with what definitely isn’t an investment: almost any regular production item from a luxury brand, no matter how well-made. That Brioni suit with the perfect Neapolitan shoulder? The Loro Piana cashmere sweater that feels like wearing a cloud? The meticulously crafted Edward Green oxfords? All spectacular products that might last decades with proper care, but the secondary market value drops 40-60% the moment you remove the tags, and it continues declining from there.
I learned this lesson the hard way when I tried to sell a barely-worn Cucinelli sport coat that I’d convinced myself was “an investment in my professional appearance” when I bought it four years ago. Original price: eye-watering. Consignment offer: soul-crushing. The painful reality is that standard luxury menswear depreciates faster than a new car driving off the lot, regardless of how many hand stitches are involved.
So what actually does maintain or increase value? Let’s break it down by category:
The strongest investment category, by far, is limited production footwear—specifically, certain boots and welted shoes from brands with cult followings. The undisputed king here is Viberg, the Canadian bootmaker whose limited releases often sell out within minutes. Their rarest makeups—particularly those using unique or discontinued leathers—routinely resell for 20-40% above retail. A pair of their “Matte Black Calf” service boots from 2015 that retailed for $720 recently sold for $1,200 on a secondary market, essentially appreciating 10% annually while presumably being worn.
Similarly, certain Alden limited editions show remarkable appreciation. Their collaborations with shops like Leffot, Brick+Mortar, and The Bureau Belfast have proven especially valuable, with some rare shell cordovan models doubling in price over 5-7 years. The most collectible? Their “Cigar” and “Ravello” shell cordovan models, which use increasingly scarce light brown shell. One collector I interviewed has seen his collection of eight rare Alden models appreciate approximately 85% over six years.
The key factors that drive appreciation in footwear are material scarcity (especially rare shell cordovan colors), limited production numbers, and brand prestige within collecting communities rather than in the broader luxury market. Edward Green and John Lobb make objectively finer shoes than either Viberg or Alden, but their secondary values don’t hold nearly as well because they lack the cultish collector base.
Moving to outerwear, certain leather jackets have proven remarkably investment-worthy, though with important caveats. Vintage pieces from American makers like Schott, Aero, and Langlitz from the 1940s-1970s have appreciated steadily, with pristine examples selling for three to five times their inflation-adjusted original prices. A 1950s Schott Perfecto that would have cost around $400 in today’s dollars now easily commands $1,500-2,000 if in excellent condition.
The contemporary leather jacket market is more complicated. Most depreciate heavily, but specific limited editions from artisanal makers have bucked the trend. Ten C’s OJJ (Original Japanese Jersey) pieces maintain about 80-90% of their retail value years after purchase. The Real McCoy’s limited production jackets typically hold steady at close to their retail price, essentially offering “free wear” to the original purchaser who later sells.
The wildcard in leather investments is Bode’s one-of-a-kind pieces, which have shown genuine appreciation in the secondary market. Their hand-embroidered and appliquéd leather jackets that retailed for $1,800-2,500 just three years ago now command $3,000+ on resale platforms. Whether this reflects lasting value or just the current hype around the brand remains to be seen.
Denim presents a fascinating investment case study with tremendous variance. Standard production jeans, even from prestigious Japanese selvedge makers, typically lose 20-40% of their value immediately, then stabilize. However, certain limited collaborative releases show remarkable appreciation.
The most notable example is the Iron Heart “25oz” anniversary series, which has appreciated 50-100% depending on the specific model. Similarly, Samurai Jeans’ limited-run natural indigo pieces have consistently maintained or increased their value. These aren’t small amounts, either—we’re talking about jeans that originally retailed for $300-500 now selling for $600-1,000 in worn but well-maintained condition.
The strongest denim investments come from brands that have either closed or significantly changed their production methods. Warehouse Japan’s early “tonal” stitched models from the early 2000s now sell for 2-3x their original price. Original Full Count jeans made while founder Mikiharu Tsujita was still directly overseeing production command similar premiums.
The most dramatic denim appreciation comes from collaborative or small-batch releases that somehow capture a moment in denim culture. The Studio D’Artisan “Cobra” models, The Flat Head “Red Edge” commemorative jeans, and the Strike Gold “Mud” denim series have all at least doubled in value since their initial release, with particularly rare sizes seeing even stronger appreciation.
Watches are well-known investment vehicles, but the findings here run counter to common assumptions. The mega-luxury brands like Rolex, Patek Philippe, and Audemars Piguet have indeed seen spectacular appreciation over the past decade, but this appears increasingly bubble-like and concentrated in specific models. More relevant to the average menswear enthusiast are the more accessible watch investments that have consistently performed well.
Universal Genève chronographs from the 1960s-70s have shown steady 10-15% annual appreciation over the past decade. Certain Seiko limited editions—particularly the “Alpinist” variants and specific Grand Seiko limited production models—have doubled or tripled in value over a similar timeframe. The key factors appear to be limited production numbers, design distinctiveness, and movements that are no longer produced.
The surprising dark horse in watch investments has been certain Swatch limited editions, particularly artist collaborations from the 1980s and early ’90s. Some of these plastic watches that originally retailed for $50-75 now command $500-1,000 from collectors. A Keith Haring collaboration Swatch from 1986 that sold for $50 now trades for upwards of $7,000 in new-old-stock condition—a return that would make Warren Buffett jealous.
In tailored clothing, the investment picture is almost universally bleak, with one notable exception: bespoke suits with prestigious provenance. Savile Row garments made for celebrities or historical figures have shown remarkable appreciation at auction. A Henry Poole suit made for a British duke in the 1920s sold for £12,000 at Bonhams in 2018—roughly ten times what a similar commission would have cost at the time. However, this applies only to pieces with documented famous ownership, not to the average bespoke commission.
Knitwear follows a similar pattern to tailoring—almost universally poor investment potential with extremely narrow exceptions. Certain discontinued Fair Isle patterns from heritage makers like Jamieson’s of Shetland have appreciated moderately (20-30% over a decade). The only genuine knitwear investments I’ve identified are original hand-knits from the Cowichan First Nation from the 1950s-1970s, which have seen steady appreciation as their cultural significance has become more widely recognized. These distinctive sweaters that originally sold for the equivalent of $100-200 now routinely fetch $500-1,000 at vintage dealers.
The wild world of sneakers deserves its own article (or book), but it’s worth noting that despite the headline-grabbing prices for rarities, most “investment grade” sneakers actually produce negative returns after accounting for authentication costs, selling fees, storage, and inflation. The exceptions are primarily extremely limited collaborations and certain original releases from the 1980s kept in deadstock condition.
Now for the broad categories that have shown almost no investment potential: dress shirts, neckties, casual shirts, and most accessories. Even the most prestigious makers see their products lose 60-80% of value immediately upon purchase. The lone exception I’ve found is certain vintage Ralph Lauren ties from the 1980s and early ’90s, particularly hand-block printed patterns that are no longer produced. These occasionally sell for slight premiums over their inflation-adjusted original prices, but hardly enough to justify their purchase as investments.
So what patterns emerge from these findings? The characteristics that contribute to menswear actually appreciating in value are remarkably consistent:
Limited production is essential but not sufficient. Just because something is rare doesn’t mean it will appreciate. The scarcity needs to be authentic (tied to material constraints or deliberate artistic choices) rather than artificially created for marketing purposes.
Cultural significance matters tremendously. Items that somehow embody or represent a particular moment or movement in menswear history appreciate far more than technically superior products without cultural resonance. This explains why certain Japanese denim from the “golden age” of reproduction appreciation continues appreciating while objectively “better” contemporary jeans don’t.
Craft processes that can’t be replicated drive value. When skilled artisans retire, when techniques become economically unfeasible, or when source materials become unavailable, the products created during these unique windows often appreciate significantly.
Documentation and provenance create premium value. The leather jacket with proof it was worn by McQueen’s stunt double, the suit with handwritten measurements for a famous politician—these stories attached to garments create value far beyond the item’s intrinsic quality.
The most surprising finding? Price point has relatively little correlation with investment potential. Some of the strongest-performing investments (vintage Swatch watches, certain Seiko models, early American workwear) started at accessible price points, while many ultra-luxury items depreciate catastrophically.
So what does this mean for the average style enthusiast? First, stop kidding yourself that your regular clothing purchases are investments. They’re expenses—hopefully worthwhile ones that bring quality and joy to your life, but expenses nonetheless. If you’re buying primarily for appreciation, you’re in the wrong market entirely.
However, if you’re passionate about certain categories and learn their nuances, there are genuine opportunities to wear beautiful things that maintain or increase their value. The best approach combines passion with selective purchasing—focusing on limited releases with genuine production constraints, historical significance, or craft elements that cannot be reproduced.
My personal strategy has evolved toward what I call “neutralizing” rather than “investing”—focusing on items that I genuinely love and want to wear, but that have characteristics suggesting they’ll hold reasonable value. This means I can enjoy them for years, then likely recoup a significant portion of my purchase price if my tastes or needs change. I’ve found this approach infinitely more satisfying than treating clothes as pure investment vehicles.
The most successful collectors I interviewed for this article shared a common philosophy: they buy what they genuinely love and know deeply, with appreciation being a pleasant side effect rather than the primary motivation. The retired banker with 60+ pairs of shell cordovan Aldens didn’t set out to build an appreciating asset—he simply loved the specific aesthetic and quality they represented. That his collection is now worth substantially more than he paid is a bonus to the years of enjoyment they’ve provided.
And that might be the most important insight of all—the best “investment” in menswear isn’t financial but experiential. The garments that give you confidence, joy, and functionality in your daily life provide returns that no spreadsheet can capture. If they happen to maintain some financial value along the way, consider it a bonus—like finding an unexpected twenty in last winter’s coat pocket, but hopefully with a few more zeros attached.