Megastar Sharon Cuneta is in a mood for sharing her personal luxury bag collection on social media, lately.
She has posted photos some of her luxury bags on Instagram and Facebook, along with the amusing stories attached to each one.
First picture she posted is a Louis Vuitton (LV) purple crocodile bag, which by current estimates may cost at least a minimum of ₱2.5 million pesos or US $49,000.
She did not actually say how much she bought it for, but her description gives you an idea that it is in the millions: “cost a concert and a half’s talent fees plus three of my toes and one whole leg.”
The actress said that it is her favorite bag of the moment, from among her collection of bags which include the currently popular Hermès bags.
Sharon said she bought her purple Louis Vuitton alligator (but most likely crocodile) at the Louis Vuitton store in Milan, Italy. Apparently Sharon bought a whole lot other items in the store that the staff gave them special treatment, complete with champagne and a nice seating area.
There seems to be some hesitation on Sharon’s part to post about her luxury bags, and asked about her followers’ opinions on whether they would like similar posts in the future. She does not want the post to be interpreted as a form bragging.
Being the daughter of Elaine and Mayor Pablo Cuneta, who served as mayor of Pasay for 41 years, Sharon was born with a silver spoon in her mouth, so to speak. She said, “This is just my life guys- I think that’s no secret naman (anyway). Born deez wey eh. And my mom was ELAINE. Need i say more?”
Sharon’s mom, Elaine Cuneta, who died on November 5, 2014, was a huge luxury bag collector too. Some of her vintage collection, were inherited by KC Concepcion, who posts photos of them on social media, every now and then.
Image Credit: @itskcconcepcion
itskcconcepcion My Sunday satchel pick: Vintage @louisvuitton satchel, from my grandma’s personal collection. She would clean her bags & shoes every 3 weeks with lots of TLC. I would borrow pieces from her closet all the time…❤️ She must be smiling now seeing how I love to use some of the favorites that she left behind. #Vintage! ? #ILoveYouMitaElaine #Heirloom #Pamana #LolasGirl #Fashion #Leather #BrassHardware #LV #LouisVuitton
The response to Sharon’s Louis Vuitton bag post must be mostly positive, because a day after posting her purple Louis Vuitton bag, Sharon shared another photo of a luxury bag. This time around, she shared a picture of a pink Yves Saint Laurent crocodile bag, which she thinks is a Cabas.
She implied that the bag is an older one compared to the Louis Vuitton. At the time of her purchase, her personal shopper said “it was the only one in the USA”. Meaning, it was a very rare luxury bag.
Sharon added that the bag “almost cost me one of my own precious children and her father but I bought it anyway and chose the cash option instead.”
That implies this Yves Saint Laurent pink bag is much more of a collectors’ item and is more expensive than the purple Louis Vuitton.
The Hermès Birkin bag issue
Back in 2009, Sharon’s purchase of an Hermès Birkin bag worth approximately ₱3 million pesos or US $59,000 became a hot topic.
The bag was featured on the defunct tv show, Showbiz News Ngayon, hosted by Kris Aquino and Boy Abunda.
Sharon said at that time that after working for 30 years in the showbiz industry, she bought it as a gift for herself.
Her daughter KC Concepcion said of Sharon’s expensive purchase, “She deserves it, she worked hard for it all her life, di ba (right)? And with every bag naman na ganung binibili nya, meron din naman syang binibigay sa mga favorite foundations nya (And with every bag like that which she buys, she also gives to her favorite foundations). So it’s not like na ginaganun, hindi, may katumbas yun na goodwill. (It’s not like she just spends like that, no, that has an equivalent goodwill.)”
Kris commented at that time that she heard Sharon did not buy just one piece of the ₱3 million peso Hermès Birkin bag, but a dozen or 12 pieces of those exquisite bags. That kind of Hermès Birkin bag now costs approximately US $120,000 or ₱6.1 million pesos at current exchange rates, according to YouTube channel, Alux.com.
Luxury Bag Collection as Investment
The Philippines’ only Megastar said on her post that her luxury bag collection will be inherited by her best daughters and best grand daughters. Then she added, “But my girls are the best so…you have no idea what my bag collection looks like so let’s just say they’ll be really happy!”
And since Sharon herself admitted that she had been a billionaire even before she married Senator Francis “Kiko” Pangilinan in 1996, it is not surprising that Sharon’s luxury bag collection may be worth at least 9 digits (in peso terms) if they are auctioned off at this time.
Considering that Sharon signed a ₱1 billion (US $19.6 million) contract with TV5 in 2011, the Megastar also has megabucks, and is a multi-billionaire if we consider her earnings since 1996.
But even billionaires have financial problems every now and then.
Lately, Sharon has admitted to having financial troubles, because her several big investments have not paid off yet. She told Boy Abunda in a Tonight with Boy Abunda (TWBA) episode in July 2017, that her investments, which are mostly in high-end real estate, cost between 8 to 9 figures and are not easy to sell. Some cannot also be rented out because these are still under construction.
Sharon admitted she owes money to banks in unspecified millions of dollars, but she is not bankrupt. In other words, Sharon has solid assets but she just lacks liquidity.
Prior to the TWBA interview, Sharon had already sold her California mansion for US $2.2 million in April of this year.
She also admitted in an interview in “The Buzz” back in 2015 that she sold some properties and some of the old bags taking up space when she needed cash for her mom Elaine’s huge hospital bill, which amounted to tens of millions of pesos.
But certainly, a huge part of her luxury bag collection remains intact. And that is not a bad thing too, since experts say that luxury bags, like a Hermès Birkin bag, is a better and safer investment than stocks and gold. The Hermès Birkin bag gave an annual average increase of 14.2%, outperforming the returns of S&P 500 and gold, according to a study by Baghunter.
Sharon’s luxury bags would form part of the inheritance of her three daughters KC Concepcion, Mariel Daniella Sophia Pangilinan and Simone Francesca Emmanuelle Pangilinan and her future grand daughters, as she said in her post. If the value of the bags are conservatively estimated to double every 10 years, her daughters and granddaughters will not only inherit something of real value, but something fashionable and stylish at the same time.