Thinking of investing in a Chanel bag? Well, there's no time like the present – Chanel handbags increase in value on the regular, meaning that, if you look after your baby, you're pretty much guaranteed to make your money back (and more) in a few short years.
We like the term “investment purchase” as much as the next avid shopper, but, more often than not, it's a complete misnomer. What we mean by “investment” is that this dress will see us through many a summer wedding, or that we'll “get a lot of wear out of” this bag. We're not talking investment in terms of stock markets or rental properties and, once we've had our fill of the purchase in question, we won't be making our money back. (But just think of cost per wear, right?!)
Well what if we told you that there are, in fact, labels that you can buy into and be safe and happy in the knowledge that, in fact, you are making a solid investment purchase?
Take Chanel. Buying a classic or iconic piece – think the Classic Flap, 2.55 or Boy styles – from the heritage French brand is less of a risk than investing money in the stock market because, year on year, Chanel prices only go one way: up.
In 2009, for example, a Chanel 2.55 would have set you back $2,695 (around €2,400). A mere five years later, in 2014, that very same bag was retailing at $4,900 (€4,380). That's an almost €2,000 increase in price – which would feel like a serious kick in the teeth if you're someone who'd always dreamed of owning a Classic Flap and just waited too long.
In Chanel terms, today is D-Day: good news for those who've already invested in their arm candy, but bad for those debating taking the plunge. At the Chanel boutique in Dublin, classic styles like the 2.55, Classic Flap and Boy have all taken a leap of 5% – meaning that a bag you could have bought yesterday for €4,750 (pocket change!) has gone up by €240; it now has a nifty price tag of €4,990.
And while €4,990 might seem like an extortionate amount to spend on a handbag, if we assume that Chanel will continue to increase its prices each year – sometimes several times – your €4,990 could turn into a tasty nest egg before long.
Based on a 5%-per-year increase (which is a conservative estimate, as Chanel often increase their prices several times), a €4,990 handbag will cost €5,240 in 2018. By 2027 – just 10 years' time – the same bag will cost €8,122 to buy, brand new. Which means that, if you bought today and chose to sell in 2018, you could make a tidy profit on your purchase.
This may all seem like pie in the sky stuff, but bear in mind that, while Chanel prices have consistently increased since the 1950s, prices for their classic leather handbag designs have never gone down. Never. Not once. Not even during the recession, when we were all forced to bring our Nespresso lattes to work in flasks, rather than buying them in Starbucks like rich people.
The take-home message from this, of course, is two-fold: if you own a Chanel, treat it like a teeny, tiny baby – and never put it on the ground. If you're thinking of buying one, do it sooner, rather than later. Because the longer you wait, the more it'll cost you. (And the sooner you invest, the quicker you can cash in.)
Siopaella is Ireland's largest Reseller of pre-loved authentic Chanel handbags and accessories, having bought and sold over 650 Chanel pieces since opening in 2011. Shop our current Chanel collection and we are always adding new iventory daily!