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.
First things first. When it comes to understanding Chanel 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).
Allow me to present a case on Chanel resale value. For instance, that new Classic Jumbo Flap bag you purchased at retail for $6,400 back in 2019? I have very good news for you. With the most recent price increase of 2021 bumping up the value of the Jumbo flap to $8,500, you have earned a beautiful ROI.
But it gets better. In addition to a return on investment, if you were to sell yours now, you potentially could gain a $2,100 profit! That’s just for investing in the Chanel Jumbo Flap bag two years ago and selling it now. If you keep it for longer, the profit could be greater.
For those who prefer pretty visuals, our graph shows how Chanel’s value has grown over the years, using Chanel 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 been priced by our experts 40% higher this year, likely due to 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 have sold with us this year so far, than in all of 2020. Average days to sale have also become faster this year compared to last year, and even the year before that. At this rate, FASHIONPHILE will almost double its Chanel bag sales for 2021, and faster than ever before. If that doesn’t scream demand, I don’t know what does.
Popular Chanel Styles
The second thing to keep in mind when it comes to understanding Chanel resale value is style. As you’ve probably figured by now, the yearly price increases don’t apply to all Chanel styles – only the best-sellers. We illustrated the trend using select sizes of the Classic Flap bag as an example.
Although we love anything and everything Chanel, when it comes to resale valuations, the best-sellers are where the money’s at for the long term.
And by best-sellers, we’re talking about the full range of Flap bags (like the Mini Rectangular, Small, Medium, Jumbo etc.), Reissue bags, Boy bags, even the Coco handle (which got a small price increase back in January of this year), as well as the ever-increasingly popular Chanel 19 styles. As Lara Osborn, our Senior Procurement Director, shares with Who What Wear, “Chanel quite possibly reigns supreme when it comes to who does the iconic chain best.”
“Chanel quite possibly reigns supreme when it comes to who does the iconic chain best.”
– Lara Osborn, Senior Procurement Director at 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. It’s safe to say, the love for Chanel is stronger now than ever before. The brand is truly legendary; one of those heritage names that will always carry meaning.
Chanel Seasonal Colors
Not only do price increases and style impact resale value, but so do colors. Chanel’s seasonal color releases are not random by any means. Select shades become nearly iconic simply because certain color and textile combinations are made available (or made in smaller quantities) in certain sizes and styles.
To put it in perspective, our friends at PurseBop explained (for those looking at the Classic Flap style) that it might be harder to find the latest seasonal colors in the Jumbo or Maxi sizes, as most new colors are produced in the smaller sizes, like the Mini Square Flap, Mini Rectangular Flap, and the Small Flap.
Arguably, the concepts of “luxury investment” and “exclusivity” definitely add to the growing appetite and admiration for Chanel luxury goods. The brown color for Chanel’s 21P collection is a hit, and upon its release, was one we couldn’t wait to get our hands on. And the Chanel colors for 21A, including the impeccable pumpkin spice hue known as Caramel (available in both lambskin and caviar), has us truly dreaming of fall.
Are you dreaming, too? Happy to report we have both of these beloved colors in stock right now. We think these buttery tones and other similar beige tones (even pink) will continue to hold value for years to come. Why? Once Chanel releases a particular color, they rarely release it again. More on that, here.
The advantage of buying from FASHIONPHILE is that you can find last season’s Chanel bag in the size, color, and textile combination that you couldn’t find anywhere else. Buying pre-owned alleviates the pressure of locating items you want that are hard to find from places you can trust. If you missed the window of opportunity to buy that Holy Grail bag in new condition, don’t sweat. We eventually get our hands on it. We’re happy to do all the heavy lifting so you can shop with ease!