A luxury handbag is a better investment than it has ever been – especially a Chanel handbag.
We fashionphiles are no strangers to the increasing value of luxury handbags (and the ways to capitalize on them) in the pre-owned marketplace. That means we understand that the luxury we already own could, in fact, become more valuable over time. How valuable exactly? Keep reading.
When it comes to understanding Chanel’s resale value, the most important thing to note is Chanel’s yearly price increases. When speaking of luxury, nothing quite compares to the marvel behind Chanel (besides Hermes, but that’s another story).
For instance, that new Classic Jumbo Flap bag you purchased at retail for $6,400 back in 2019? Good news for you. Noting the current price increase, the value of the Jumbo has bumped up to $11,000 in just 4 years!
Our VP of Procurement and Authentication, Lara Osborn, weighs in. “Although Chanel just substantially increased their prices (yes, as high as 17% over February 2023’s prices!), we’ve seen substantial increases in the past. The return on investment for Chanel bags is real, and who doesn’t love a savings account you can wear?”
But it gets better. If you were to sell your Jumbo Flap now, you potentially could earn a beautiful ROI. And if you keep it for longer, well, the profit could be greater.
Our graph shows just how much Chanel’s value has grown over the years, using the Classic Flap bags as an example. It goes without saying that your pre-owned Chanel handbag is worth something.
By addressing Chanel’s pricing strategy, you can use these numbers to your advantage. Arguably, these increases play a big part in fueling the demand for some of Chanel’s most popular styles – in a really good way. In fact, our top-seller, the Chanel Lambskin Quilted Medium Double Flap bag, has historically been priced higher by our experts (up to 40% higher in 2021), because of these significant market value increases.
With that in mind, we can’t help but notice additional trends in both selling and purchasing behavior over the last year. Most notable: our records indicate that more Chanel pieces sold with us mid-year in 2021 than in all of 2020. Average days to sale have also become faster compared to previous years (especially leading up to an anticipated Chanel price increase). If that doesn’t scream demand, I don’t know what does.
Popular Chanel Styles
The second tip to keep in mind when it comes to understanding Chanel’s resale value is style. As you’ve probably figured by now, the yearly price increases don’t apply to all Chanel styles – only the classics. We illustrated the trend using select sizes of the Classic Flap bag, as an example. But Chanel price increases often also apply to other styles, including Chanel 19, Chanel 22, Wallet on Chain (WOC), Reissue bags, Boy Flaps, and Coco Handles.
Although we love anything and everything Chanel, when it comes to resale valuations, the best-sellers honestly are where the money’s at for the long term.
“Chanel quite possibly reigns supreme when it comes to who does the iconic chain best.”
– Lara Osborn, VP of Procurement and Authentication at FASHIONPHILE
To further explain, Lara Osborn shares, “Perhaps the hike seems even more appropriate, given the rising prices of life’s essentials, not to mention luxury indulgences. Price increases in recent years have ramped up more attention to the true investment nature of quality accessories, so we’ll likely continue to see more savvy shoppers taking advantage of pre-loved Chanel bags and accessories, also knowing they could potentially enjoy a profit selling them back to FASHIONPHILE.”
At the end of the day, it should come as no surprise that the top bags to sell are also the top bags to buy – now. Best-sellers are beloved for their iconic beauty, quality craftsmanship, and timeless style. The demand for Chanel is stronger now than ever before. The brand is truly legendary, one of those heritage names that will always carry value.