By Joanna Blythe
Daily Mail
Not so long ago the fastest way to update your wardrobe was, ironically, by throwing in something old and a bit tatty - a 1940s tea dress from your gran's wardrobe, a 1950s cashmere cardigan from a charity shop or a retro brooch you bought for 50p at a car boot sale.
But now vintage is everywhere it's a different story.
As ever in fashion, the cache is in exclusivity. Which is why true fashionistas are becoming obsessed with the "new vintage" - clothes with provenance.
Think: Chanel circa 1925, limited- edition Birkins or Dior designed by Gianfranco Ferre.
The market for luxury vintage pieces with proven heritage or connection to an iconic design house has exploded.
Never has there been so much cachet for a celebrity to sport archive Valentino or Chanel on the red carpet.
Auction houses such as Christie's now regularly host sales of vintage clothing. As a result of this demand, the price of designer vintage has more than quadrupled in the past five years. (or up to ten times if the piece has connections to a classic film, famed actress or rare period.)
There's also a growing clutch of websites devoted to selling authenticated vintage pieces at premium prices.
This week Yoox.com is hosting an exclusive 100-item sale of Chanel vintage clothing (in May this year it launched a similar sale from the Gucci archive).
The sale will include everything from jewellery to cocktail dresses and winter coats, some from as early as the 1950s and others from the mid-1980s when Karl Lagerfeld took the helm.
Meanwhile, luxury auction sites such as Portero.com are now selling qualified vintage and second hand owned accessories including Piaget watches, Tiffany & Co, Hermes bags and Rolex watches.
Upmarket London boutiques are catching on, too. Browns boutique now stocks E2, a label which combines vintage pieces by Pucci and YSL alongside contemporary clothing.
The ultrahip Dover Street Market now includes a concession for Decades - LA's coolest vintage store where Hollywood starlets including Chloe Sevigny and Julia Roberts buy their red carpet gowns.
"It's a consistently good part of the store," says store manager Dickon Bowden. "We have had some incredible pieces that sold the same day we received them."
He reveals that recently a turquoise Chanel haute couture princess dress (designed by Coco Chanel herself) sold within minutes of arriving, although he won't be drawn on the price.
At the same time, small or ontheirway out fashion houses with a prestigious heritage have never been so attractive to investors and luxury conglomerates.
Halston, the 1970s American label synonymous with Studio 54 glamour, is to be relaunched this February by film mogul Harvey Weinstein and shoe expert Tamara Mellon.
The plan? A global luxury brand.
Cult British label Ossie Clark is also scheduled for a revival this February with investment from WGSN (a fashion news service) founder Marc Worth.
It's a sound investment considering the booming designer vintage market. Halston has always been popular with fashion-lovers, but with its relaunch imminent, the price of vintage pieces is set to rocke
