I've had my Balenciaga for over two years, receiving it in squealing delight for my 21st.
It's faded quite significantly over the years, turning almost a greenish grey, and the leather studs have started to peel. I blame the discoloration and damage on the Sydney sun, though it's really because it's been over loved/used. Nevertheless, I think the imperfections add to it's charm and appeal.
Though I go on and on about other bags I want, the Balenciaga Pompon is the first designer bag I owned, forever being my first true love.