Those who believe investing in fashion is smarter than real estate, stocks or even gold will be pleased by Baghunter’s latest in-depth study. The retailer of hard-to-find designer bags — which has also put Hermès Birkin to the test — conducted a just-published survey concerning the pricing of Chanel’s iconic Medium Classic Flap Bag, and the results were stunning: a 71.92 percent increase in price over just the last six years.
Coco Chanel’s design, which first debuted in 1955 for a mere $220, has done nothing but take off over the last 60 years, consistently outperforming housing prices and inflation (8.7 percent) as it rose to its current price, $4,900. Six years ago, in 2010, it was just $2,850. And its value is expected to continue going up.
But the classic bag isn’t the only one that’s increasing in price. The Reissue 2.55 has gone up by almost the same percentage, and the Boy Bag, which was conceived under Karl Lagerfeld in 2012, has seen 53 percent (small) and 31 percent (medium) growth in value in just a few years.
“It’s interesting to see how the value of Chanel bags has skyrocketed over the last six years, a period which coincides with the rise of ultra-luxury marketplaces for such items,” Baghunter CEO Evelyn Fox said Tuesday in a statement. “We feel that these marketplaces have played a significant role in making these bags available to a wide range of women, peaking interest in more people than ever before, and contributing to Chanel having the ability to increase the value of their bags so rapidly over such a short period of time.”
The bottom line: While housing prices may drop and gas prices fluctuate, Chanel isn’t going anywhere but up.
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