Should you invest in a Chanel bag?

Thursday, January 19, 2017

The iconic 2.55 style, the Maxi Flap and the newer Boy Chanel are and will always be fashion staples. From celebrities, influencers and fashionistas, wherever we look - everyone seems to have one. These timeless handbags are most desired due to both their longevity and design, but with prices racking in from £3k all the way up to the £4k mark - just how worth it are they?

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When Coco Chanel designed the 2.55, she had both style and practicality in mind and there's no doubt these staples are functional. The double flap provides extra security, and the zip compartment allows you to store important cards & letters, the two open compartments stitched onto the inside wall means you can store your phone, make-up essentials and credit cards effortlessly. But you're probably thinking 'why the hell should I spend that kind of money just for function? I mean, heck... I can find a functional bag in Zara for a fraction of the price!'

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Well... it turns out that Chanel bags are actually an investment. Like gold, silver, stocks and shares - Chanel bags are one of the fashion staples that have gained value with age. Yep, the price of a Chanel bag has significantly risen since 1955, which started at a price point of $220. Although that isn't great news for those that are considering buying a Chanel bag now, for those of you who were smart enough to buy one lets say in 2010, if you decide to sell now, you're looking at an average profit of around $2,000. The classic Chanel Maxi Flap bag was $2,850 in 2010, and in just 6 years the price has shot up to $4,900 (an increase of $2,050).

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But why do they continue to go up? Well, the cost of lambskin leather is rising, along with the cost of labour. Depending on the style, the production of one bag involves a total of 15 people, using 180 different procedures taking a total of 18 hours. Each bag is also hand made which means not one bag is the same. Getting your hands on a Chanel bag is really difficult, as they're always out of stock and with low availability comes high demand.

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So, please... if you decide to buy a Chanel bag make sure you take care of it! Although they are continuing to go up in value - a worn out and damaged handbag could potentially decrease in value. What are your thoughts on Chanel handbags, do you think it's worth the investment?

Check out Bag Hunter for more data

Words By: Malika Isles

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