Feeling I was being ripped off would spoil my pleasure in the bag. Chanel has got greedy and I think it will ultimately hurt the brand. It’s a shame but in light of all that is happening in the world at the moment, not being able to afford a Chanel bag is of no importance to me. Very informative video, thank you.
Very inciteful comment. I relayed the same message and was met with snark. This bag will not sustain my life or welfare. Look at what's happening in the Ukraine. My heart breaks for those affected 💔💔
Please be cautious of sympathy for Ukraine. We are being pushed into war with all the heroic images on TV. How does that end well for humanity? It does not. Does work for Biden admin because they can blame poor economy on Putin. Works for Congress with graft and military investments, both sides of aisle. I do appreciate your compassionate hearts.
@@GhostofMrsMuir1443 Do it understand it right that Ukraine is only having the war because Biden wants it? How nice of the Ukraine and Russian government to perform this act.
Chanel went down in quality so badly that even without price increase a lot of people don’t want to buy it anymore...only vintage pieces from 90’ and early 2000. Now surely the superfakes market will beoverloaded with their bags
@@loisen Is that what I said? No. I said, let's be careful to not let our sympathies kill millions by getting into a global, god-forbid nuclear, war. But you do you.
As much as I love luxury bags, I can’t justify these prices. These designers have lost their minds. How is the LV Coussin worth almost 6k? It’s not. Over 9k for a medium Chanel? It’s baffling. I’m curious if these price increases will start to hurt them. I’m having a much harder time justifying these prices and haven’t bought much this past year. Plus the quality has gone down quite a bit.
These designers haven’t lost their minds. They actually know what they’re doing. They’re very much aware that there are lots of middle class people crazy/stupid enough to pay for such price. For the real wealthy people, throwing away such amount is like buying a bubblegum.
Plus, I think their target is to get rid of all these people who buy their bags like candy. They're trying to become, like hermes, "few and inacessible"...but to me this doesn't work. Also for birkins: there are a lot of them around, you can be bored by how many people owns one.
The price increases began when a luxury tax were imposed on them now almost nearing two years ago. They then decided that they would additionally add to the price tag as shipping and logistics costs also increased. As far as how this benefits or harms the company is not really known, as it also depends on manufacturing and acquiring the resources to produce them is also into question. It definitely will be interesting to see what happens. Shareholders and those putting into the investments of companies would prefer that a business is healthy and consumers maintain interest in the products. These are uncertain times for both those who want to resell for investment purposes, but also for ateliers if they cannot maintain the same level of obtaining the resources as they have done. If the latter happens, then you haven’t seen anything yet, in terms of pricing and the market segment (the consumers) will get a whole lot smaller and more exclusive.
Oh yeah, I quit buying luxury goods years ago when the prices started getting ridiculous. I’m amazed that people are still buying it. And they literally line up in front of the store like cattle! I cringe when I see these poor desperate suckers lined up in front of the boutiques at South Coast Plaza. Most of the designs aren’t even cute at all these days. The whole thing feels like a colossal joke. It will be a cold day in hell before I wait in a line like a farm animal for the privilege of being ripped off on some ugly, overpriced merchandise. Nothing luxurious about that. In my personal opinion, we are witnessing the final stages of the controlled demolition of the West. The luxury brands are doing a cash grab while they can before it all comes crashing down. The economic tsunami is coming. If you look at the M1 Money stock chart, it speaks for itself. Fashion trends just aren’t too high on my list of priorities at this time.
The point is, Chanel bags no longer has the quality and craftsmanship as they did before. They no longer look luxurious when taking a closer look. That’s how the continuous of price increase doesn’t make any sense.
I recall reading somewhere that Chanel was increasing prices because they want to price out the upper middle class customers. They would rather have a fewer amount of wealthier clientele who wouldn’t blink an eye at spending $8800usd on a classic flap; and they don’t mind losing the rest of us regular people who save up to buy our wishlist bags. So, I think it’s all working according to their plan. I would argue that their bags are not *less* desirable, because we still wish we could afford them. But Chanel would rather have wealthy customers wearing their designs. 🤷♀️
Wealthy women are buying fake bags now days, this is why they're wealthy. It's the lower/ middle class that will drop 3 mortgage pmts or entire income tax check on a handbag
My theory is that the bags have become over saturated. This can ruin the market for classic flaps from boutique and resale. Most Chanel enthusiasts already have one and look more for seasonal bags. Classic flaps recently have mostly been purchased by resellers. To stop this trade and eventual complete saturation and decline they raise the price to were only a few can afford from boutique but they are still technically available. This lowers demand and ruins the resale value. Inflation will eventually catch up and these prices wont be so obscene. By then the second hand market will have naturally balanced itself out. The obsession with buying investment bags will have passed. This may take 15 or 20 years but one day we will be able to walk in to Chanel to buy a classic flap and not have our jaw drop to the floor. Until then i think they want you to buy preloved.
the prices will be obscene regardless of inflation because wages arent rising with inflation! Certainly no sales assisants at Chanel have had a pay rise
If I really fall in love with a bag I don't mind saving up for awhile to buy it, but what I've noticed with myself is that once I reach my price goal I realize how long it took me to save up and then I no longer want to spend the money on the bag which over time I usually get over wanting it anyway.
I totally feel the same. When I finally have the money I just can‘t bring myself to spend that amount that I saved for soo long JUST for a bag!! It‘s insane I could buy a car with that money haha
@@rrezeartazukaj6301 you are so right, car vs handbag, there is really no question there for me. Also when I have spent large amounts of money on something frivolous more times than not I have the buyers remorse.
@@duedate2811 Oh my gosh, I do the same thing. I look at a picture of my desired bag almost daily and after a while I just get tired of looking at it and often no longer want it. Truly lets me know how much I want the bag because the bags I actually bought I never got tired of looking at the picture. Don't get me started on perfume LOL thats a whole other obsession for me too and probably have more bottles than I can ever use.
The quilting flattens over time because it's puffed up with foam layer that deteriorates. Eventually that foam turns into powder. The only manageable way to revive the puffiness is to have the bag injected with liquid foam through the stitching lines. This is well worth the trouble IMO. (nobody would have their bag entirely deconstructed, relayered and restitched along quilt lines, the cost would be astronomical). Chanel quilts have always been puffy. What's changed is the materials used. Before the use of foam sheeting, there were other more durable materials but they too, flatten over time, just not at such a rapid rate. Sophie you haven't mentioned the year that those bags were made, only the year you bought them. This is the clue. I've got Chanel tote bags that I've reopened via the lining, and inside there is a ghastly orangey powder. That's the foam that's decomposed. Also in terms of trends the relevant factor is lifestyle changes some are settling in for the longer term. People are not back at the office, or engaging socially in the same numbers and don't need a larger bag to carry their needs for the entire the day. It's one off short trips for chores, and/or breakfast lunch meets etc. There a more causal style throughout. Who's back to wearing suits and heels? Not a lot. The aesthetic is to use your small bag to lift your casual albeit designer, look. The bag in this sense is more like a punctuation mark. It's not the main event. IMO.
Cheaper materials are being used in every market; not just bags. Anyone try to buy a mattress lately? It’s the same concept. Foam is a big culprit in the breakdown of any product. I bought a mattress at just over 6k and within 2 years had to throw it out on the curb for disposal. The first mattress I ever bought cost under $800 and lasted over 20 years. The reason? The materials used were hand tied stainless springs and no filler. So now that’s all I buy. Throw a $300 topper over it and I just saved well over $5k. I’m all in for a good handbag but I won’t touch anything with materials made to disintegrate in just a few years. Spending a little more to move up to Hermes is a much better value in the long run.
@@catherinevalli6830 I buy commercial grade mattresses that are firm, and use a gel-infused memory-foam topper. It works like a dream...literally! I like things that are built like a Sherman tank. I guess a Hermes qualifies but I'm not in that category yet. Bally bags are well made and reasonably priced. But they do make some ghastly bags. Hermes not so much.
The price increases in all of the top brands has made me become more interested in lesser known/popular brands (casa Blanca, Loewe, givenchy) inflation in general will cause so many brands to go up which gives us no choice to pay those prices for what we want. Fantastic video!!
@@laurakelleher1995 investors want the same level of ROI, so of course inflation has a direct impact. Costs of production increase, so profit needs to keep up for them.
im over it honestly. the only bags ill buy in the future are from 80s or 90s. ive hit my max with chanel couple years ago. last i got was a 2.55 mini reissue and it was just under $4800 with taxes. i love it but refuse to buy more. the new prices are insanity.
People's values are changing as well. Conspicuous consumption is not so big. As Sophie says people are getting more into environmental and sustainability awareness. They also want the quality, which is deteriorating with new bags, by and large.
I’ve never spent over $2500 on a bag. Got a really cool D&G bag for my anniversary this year and I have a Valentino wallet on a chain. The D&G is more day-time, the Valentino more evening. But both are black so I guess I’m missing a light colored designer bag. Maybe I’ll get ysl or Gucci but I’m staying under the $2000 mark. To me $2000 on a luxury handbag is a splurge and a treat. Any more than that and I’d be eating into my retirement fund. But I really need to keep an eye on smaller purchases that can add up.
I totally agree, I'm all about vintage now over buying new. It's a new sort of thrill of the chase trying to track down the vintage bags of my dreams!!
I bought a Medium/Large Chanel classic flap (lamb skin with silver hardware) a couple of days ago from a well known/trusted seller. It's immaculate and not a mark on it...Came with box, dust bag, authenticity card and original receipt. I paid £4,250 for it. Very happy! Not bothered about resale value...not planning on selling it x
Hello, would you be willing to share that seller. I was looking for some on resale websites, but haven't found the style I want in a good condition with dust bag, etc.
I agree. It’s not 2010 anymore. You don’t need more then one every five years. Plus Coach, Tory Burch, many other have bags under 500$ just as high quality
PREACH! I cringe when girls say it's an investment. An investments gives money back. Real state, bonds, stock funds are real investments. So it just boggles my mind when people justify buying an overly priced purse and think it will generate them money somehow, maybe I can see it... but it does not make sense to me. I just watched a CZcamsr say she bought a $60 candle so it was an "investment" like what! We really need to be smarter with our money! On another note, I'd die for a medium size vintage Chanel bag from the 90's. I love the quality and the worn out leather look. Maybe one day, but I will def not call it an investment.
For me, I started buying Chanel 20 years ago in my twenties and the price was affordable kind of expensive. So throughout the years, I sold and then upgraded my collection. That's why the profit I made from selling could always compromised the increasing rate. I just got a new small CF in lambskin and I could foresee that I couldn't make any profit from it, at least in the coming 10 years. However, I am still happy to buy a new one (well... my lovely husband paid for it though) as it is not always about money but the enjoyment I get from getting a brand new classic. But honestly, I am not interested in buying another new one. I just got a preloved but never been used jumbo in beige caviar @ 55k (from 2012) and although it is expensive, I think I would make profit eventually, if I am willing to sell it 10 years later. Just my two cents.
The vintage ones look just as nice . My friend has a Chanel medium flap bought in 2020 and I don't think the quality is overly better than my Coach parker.
I disagree about the medium bag. A medium black caviar bag in excellent condition can be sold almost at the retail price now. The bags you showed were made of lambskin and their condition was not excellent. There are long waiting lists at boutiques and I have not seen any available medium black caviar bags at consignment shops or websites in Europe for the last 12 months. The medium bag contrary to the jumbo one will always be desirable because it was the original size of the bag that Gabriele Chanel designed. I predict that the resale prices of the small and mini bags will have a sharp decrease in a few years as happened with the jumbos because nothing fits in the smaller bags, they are not practical at all.
@@Sunset553 Thank you for your comment. To be fair, the prices of the Chanel medium bag fell this year as all the luxury resale prices including the prices of the Birkins and the Kellys. In Europe, however the resale prices are higher than in the US.
From my perspective as someone who used work in the finance industry, purchasing classics with the view that they are an investment is just a trend, trends always end & the hype over luxury will die down (which is also a current trend). We will get to the point where the market is completely over saturated, people will loose interest & move on (that’s just human nature). Couple that with the current (completely unsustainable) hyperinflation & the pre-loved prices will drop, possibly even plummet (there are qualified analysts who would have a better idea about when & how than I do). I personally loose interest in pretty much everything when I see a lot of other people with it, so my attention has been drawn to mid-range much lesser known brands, bespoke & high quality one off pieces handmade by a local artisan. I still have a few luxury items in mind (which I have no intention of ever selling), & will always love luxury fashion, but I’m feeling less of need to consume, the more I see other people with it.
Since college, I had planned to get a Chanel classic flap for my 40th birthday. Now that I am a handful of years away from that date, with all the price hikes and saturation I’ve seen in person and on social media I have been re-evaluating and thinking of alternative options. For the price I had in mind to save up, I could get a Chanel mini or at that point in future a chain wallet (lol) or get a whole lot of bag from Celine, YSL, Givenchy or Loewe. And possibly still have some money left over for a coin case or keycase. TBH the bootleg and copycat market has also made me less inclined over the years to get excited about the classic flap style.
When I first started following handbag you tubers it was all about the classic Chanel Jumbo. Right now it’s all about Birken and Kelly from Hermès. The only thing we know for sure that there is always another hot trend coming. I predict that in the next few years we will be talking about something we can’t even imagine right now!
That’s why it’s best to buy something you really like that is not outrageously expensive. There are many other options for investment than luxury bags!
I’ve never felt that any of these items are worth it unless you can buy it and not miss the money one but. Otherwise it’s a waste. Not that they aren’t beautiful and covetable, just not a store of wealth.
I've been a collector of many collectables for about 27 years. There's always a time and a season for collectables, and using them as investments is very risky. Don't invest in anything as a collectable unless you have money you know you can lose, or if you plan to flip in the near future. If you're just buying to enjoy/wear first, and maybe sell for whatever reason later then it doesn't matter.
I’m a little bit over bags and ‘stuff’ in general. At 35 I’d rather spend my money on property and interior decorating. Whilst a have a very beautiful wardrobe, I think I’m ‘there’ with that and I don’t have a big desire to get a chanel or Hermes bag. The cost of living is ridiculous at the moment and I fear things are only going to get worse for our generation and younger. I bought my flat last year and my boyfriend owns his house. I feel like we are moving away from ‘wearing’ our money and ‘living in’ it instead.
I think Chanel wants to adjust the kind of people that buy their bags. Especially the classic flap. It's become such a trendy bag and it doesn't seem like they want it to simply be a trendy bag.
I don’t agree with you here. Pre-loved bags are selling for sky high prices in the US & Canada. You can’t find a medium classic flap for under $7k Canadian unless it’s series 1 or 2. The resale prices increase with the retail increases.
This is just insane! Prices are rising on everything around the world. Those who may want to buy one of these bags will not buy it when the price is high. And as you said, you cannot get your money back out of it. Groceries are sky high and petro is astronomical. The best thing to do is keep your bags until this inflation is over. This is bonkers!
Desirability needs time to establish itself. I think that increases are so often that people just get annoyed and don’t know what the brand is aiming for. When vision of the brand gets established in upcoming years, then people will pay more in pre-loved market.
I agree. I think the resale market is balancing itself out on the bigger bags right now. If a lot of people were buying Chanel, they were likely buying one of the bigger bags and those trying to resell now are met with people going to the second hand market to find a good deal. Maybe in a year or two, when everyone will expect to pay at least 5k for any Chanel, the more common bags will resell for a better price. Of course they need to sort out any quality issues if they want to reach Hermes's status.
I find the entire concept of "investment bags" and investment items when it comes to fashion in general very anecdotal. You can make more money out of a fashion item or sell it for what you bought it only if it's in a great condition. For the likes of Kim Kardashian who have thousands of bags (therefore, probably haven't worn anything more than 2-3 times maximum) and keep them in temperature - controlled closets,etc. yes, those people absolutely won't lose a penny on their items. However, for the everyday person who can afford luxury items that won't be as true. Someone who has 4 designer bags probably wants to wear them all the time and with the wear out comes a price decrease unless you have a truly unique item which isn't available anymore. So as much as I love fashion, I would never recommend to anyone to treat it as an investment because chances are you won't end up making any substantial profit out of it.
A bag is a bag. You hand over what you consider to be a commensurate sum of money for the item you wish to own. It’s not an investment. It’s a bag, regardless of its pedigree.
I work in luxury retail, and from experience I can tell you that regardless of these increases people are actually buying more. A few of my friends work at Chanel and they are selling more now than ever before. However, I will say that truly wealthy clients don't care about these price increases... they simply aren't buying what everyone else is. They could care less about classic bags because they want what's new, not what everyone else craves. Also, I feel like there's just no way around all the price increases because inflation. Everyone is increasing their prices, so the way I see it Chanel doesn't want to be as attainable as Dior, LV, Fendi, Gucci, etc. The price point is part of their brand's image. Therefore the only thing they can do is increase their prices.
This! You’re right. I think LV is doing the same thing and these price increases will not stop until people stop buying them. Pre love should not be seen as making money but a way to get rid items that you don’t use and buy a new one with the money you get from selling it. For instance, I bought a Gucci 1955 mini bag and it costed me $750 with tax Hawaii price (original price was $910 now $960) but barely used it so I decided to sell it online but they were quoting me at a super low price. I went traveling for three months in Korea and sold there for $670 which I think better than the ones that I got offered from online store although I know the price of the bag in Korea is way more than what I’ve sold for.
@@claudiaames580 To be clear, I never said it wasn't about profit. In fact it can be because of both. Second, in economics that's exactly how luxury goods behave. Simply put, their demand DISPROPORTIONATELY grows with rise in income. So there are a number of factors at play, including inflation and rising inequality which both move the demand curve up (causing prices to rise), and supply shortages which cause the supply curve to move down (which further causes prices to rise while quantity supplied goes down. So having 7% inflation and 20-30% rise in prices of luxury goods makes complete sense, since again that's exactly how luxury goods respond in economics. Their prices don't rise linearly at a 1:1 ratio, but more likely exponentially. So the higher the inflation, the higher the price to inflation ratio.
@@laurakelleher1995 Like I said to someone right now, that's simply how luxury goods are expected to behave in economics. To be clear, yes economists support the fact that the prices of luxury items disproportionally rise with inflation. However, they do not believe it's because "inflation can be used as an excuse". Again, it's how luxury goods behave and economists simply observe how things happen and theorize why they happen. Inflation can rise for multiple reasons, but two big factors right now are supply shortages and rising inequality in most countries. Both of which are causing even normal goods to go up in price, which actually causes inequality to rise as well, and unfortunately both factors create a positive feedback loop. Second, a luxury good behaves the way it does because for most people they are seen as status symbols. Therefore, as people begin to purchase more because they can, luxury prices naturally have to rise (disproportionally) since the demand curve is moving right. On top of that, supply shortages move the supply curve left which further increases prices and decreases quantity. Moral of the story is, inflation is not "an excuse" for the rise in prices. Inflation is a proven cause and observation for the rise in prices. Of course, take this information as you will. I am providing it as an economist from a top university in California.
I love the flat quilting so much. Your bags are stunning. In my opinion, the vintage or rather the 24K plated bags are a better purchase. I don’t mind some wear either, gives the bag character especially if it’s decades old😊
I am wondering whether the same thing will happen to Hermes.. it is scary for people who are looking at luxury handbags as an investment.. as opposed to something that they really love and plan to ‘use’ for a lifetime.. coz a few years ago.. getting a Chanel flap bag was a milestone for so many CZcamsrs and now i see their social media filled with birkins and kellys every couple of months.. the Hermes bag buying game.. as much as I find it absurd.. i think Hermes and Chanel are going in opposite directions and which strategy stands the test of time.. well.. only time will be able to tell!
Another great thing about pre-loved is that you can see how the leather and the metal parts look after using the bag. Then you won't have any big surprises.
Many of us (who just started our designer collection) we’re saving for at least one bag that we consider our must have (my case Chanel) in my savings journey to Chanel… I found myself having enough money to get my ultimate dream bag (not Chanel but Hermès) a Birkin… Chanel price keep going up to the point that I told myself go for the one you really want it… and sadly it wasn’t a Chanel bag… Many of us dream of an Hermès bag, but compromised for other brands… now all this other brands have about the same price, so we just decided to save for what we really want. Hope that’s not confusing 😅
Hello Ingrid, no that makes total sense and I think that the Birkin is a much better bag. The fact it was what was in your heart too must also have made it so special to buy and own. Enjoy it and thank you so much for watching and commenting :) Hugs xx
But it's almost impossible to get a birkin at retail without spending alot of money. Birkin is also my dream bag but I refuse to spend 4 times that amount in store just to be considered for a birkin or Kelly. 😭😭😭
Such a good video! The fact that Vestiaire shows you the actual SOLD price is such valuable information! And for Chanel, I actually think everything in the classic flap design is an investment....as long as you hold on to it long enough. For me, even with price increases, my desire for these bags have not gone down at all 🙈. Chanel has enough clout that they can raise prices first, and then think about quality afterwards, if you can afford Chanel at 9k USD, you can afford it at 10K USD. I do think though their goal is to first reduce the clientele, then maybe improve on the quality.
I think the resale market is balancing itself out on the bigger bags right now. If a lot of people were buying Chanel, they were likely buying one of the bigger bags and those trying to resell now are met with people going to the second hand market to find a good deal. Maybe in a year or two, when everyone will expect to pay at least 5k for any Chanel, the more common bags will resell for a better price.
Social media has promoted the luxury market bags,cars and shoes it’s my opinion that they don’t want the regular middle class customers to purchase they want to remain niche therefore they are pricing lower income buyers out
Because of these insane price increases, I’ve been more into contemporary brands lately. The quality is there and the prices are a lot more reasonable. Thanks for a great video, Sophie. 😊🥰
Vintage all the way! Quality was excellent, designs were actually creative and they are just special. The Chanel bags you have showed from Luxury Promise are amazing, definitely from the 80's and 90's. Karl Lagerfeld at his finest. 😎 New Chanel or any luxury brand? Boring as heck and made like crap. Oh and they want 7 grand for the privilege. Ha! I'm content and happy with my vintage bags. Some I bought new at the time and others I purchased from preloved sellers. I just sold 4 of my LV bags, passed them on to others who will enjoy them as I did. 😊
I wonder if the Chanel bags are getting bumped up because a) they are taking advantage of more profit or b) they see their brand as becoming 'common' and therefore less desirable to the class they want to attract. I personally have seen it so much now that it no longer interests me.
If you want a special bag for that price and you can pay for it in full that makes sense. My concern is how many people are deep in debt just to look affluent to everyone else. Most of the people I see on a daily basis wouldn't know Chanel from Walmart.
First I want to say that i love your video’s. And to your video: last year I bought a vintage (1989) Chanel medium Classic flap for € 3.850 here in The Netherlands. Perfect mint condition, puffy leather and no marks. I love vintage and at the time I thought this was a better investment than new. Happy Sunday, Stephanie
I think you have made a right choice with that vintage. The problem with Chanel now is their classics seem to lose value with these constant price increases
Hello Stephanie and Karina, thank you both so much for watching and commenting btw, you're both so lovely :) Stephanie - your 1989 vintage sounds beautiful, and I love that it's a 1989! I think that's so cool and I'm not sure about you, but the leather on the vintage ones feels so tactile. I'm more into the vintage ones now, exept for the forethcoming heart shaped bag, that is so cute, but otherwise it's vintage for me :) Hugs to you both xx
I am new to buying luxury bags, so my collection is small. But with the constant price increases, I have a feeling it’s going to remain small. I wished I could have started buying bags years ago when the prices were more reasonable. At this rate I believe they’re going to start losing potential buyers because it’s becoming too unattainable financially. Great video thanks for the wealth of information!
Personally I think it’s about what’s in fashion at the moment. It’s a moment of small bags, people don’t want a massive handbag like they did once upon a time. I think that will change in the next few years and larger bags will be trending again. When that happens jumbos will most likely have a better resale value
I always only buy the bag if I like it but not take it as an investment, jumbo is too big for me. Currently I have a few Chanel bags altho I don't use them much but I don't plan to sell them as I love them as my collections! I buy some other less expensive bags for daily use such as Loewe, Bally, LV, Celine
I cannot imagine spending £7000+ for a bag. WOW. Do you think they'll ever drop their prices? Is that even a possibility?? Yes, I'm aware that's probably a daft question, but at some point something's gotta give! Especially with the quality issues some of the brands have had recently.
Hello my friend! I think they're going to keep going up - can you imagine if they became more expensive than Hermes?! That would be mad, but I can imagine it happening. Hugs xx
@@SophieShohetOfficial yes they are really trying to be like the Hermes Trio they shouldn’t produce them at the rate they do if they want the price/ exclusivity/ scarcity. they should be more lower quantity and better quality than they are!!
@@KarinaSwan Chanel wreaked their own reputation when they started working with influencers and then again when they decided it was a great time to raise prices during a worldwide pandemic, Chanel isn't exclusive and the brands moral compass is not there, so for so many people Chanel has lost all credibility and lux feel.
I am a personal shopper in Paris, and it is so crazy to know that the classic flap is 7800 euro. Glad I could get the mini flap bag in black just because the SA loved my makeup lol, and it was 3800 euro. If I were to buy for myself I would buy preloved for the medium classic flap. The new one is crazy, and you could get Hermes with that amount!
Hello, I hope you are well. You seem to know quite a bit about the luxury trade. I want to create a brand of luxury handbags of very good quality. I plan to manufacture them in Europe. Could you tell me if the brand made in Italy sells more than if you make it in a country like Spain (which also has very good craftsmen). Also, I would like to know if it is better to sell your luxury product at a lower cost, like 400 dollars or so, so that more people can buy it or if it is better to sell it at a higher price so that the product has more exclusivity. I would also like to know how important is sustainability in the luxury sector, because I don't know if I should make my products with recycled leather (or other sustainable products) or with traditional leather, what do you advise me? I really don't know much about what will be better, I want to offer very good quality and beautiful models. Thank you very much for your time, best regards.
@@luc2645 Hi Lu C, so sorry for the late reply, I did not see the reply notification. Uhm...actually brand made in Italy is seen as better quality when it comes to Leather goods, depends on your segment tho. And if you come to Paris, here there are many indie luxury brands like Polene for example, Jacquemus, that are 'affordable' and they maintain their unique designs and quality. If you sell at higher price and people do not know anything about your brand, it will be a dead end for the brand I must say. Oh well....sustainability in fashion industry is a joke, I have to be honest. Because when you create a new product using new materials, it is not sustainable. BUT it depends on how you see it. :D I hope it helps! And if you make one, create a better quality than Chanel! :D
Price vs quality. Chanel quality does not match the price they are attempting to charge at this time, it is a simple fact. While there may be some who still purchase the bag new for the luxury experience, I suspect they will see a drop in those groups. Hermes quality has been steady throughout the years and I believe that has a lot to do with their ability to maintain their value. I've seen other channels refer to Hermes as "family bags" where a mother will pass along a bag to one of her children and so forth. It is timeless and with proper care it will last.
It sucks for those who were really young when Chanel bags were somewhat affordable. I’m now at the age where a Chanel classic flap is something I feel is such a staple to have in my wardrobe. Unfortunately with all of the price increases, I’ve just been so hesitant to make the purchase. Why couldn’t I have been this age in the early 2000’s!!?? 🥲
I was thinking about buying a bag brand new for clearing my debt, but now I'll be shopping preloved until the market changes. I think they have done this as Chanel is becoming very accessible and it doesn't go hand in hand with the brand's mysterious vibe. I wish Chanel the best because before I buy the bag I'm gonna see what I can get elsewhere
I have wanted a Chanel bag, but I am not spending $7-10k (which it seems are the prices now.) I am shocked at these fair/good pre-love bags that indicate odors inside, cracking edges and airbrush/paint ... Going for $5k all the way up to $10k. I just.... I think I have been pushed out. $5k is my max, and I can't even seem to find a stinker in my budget (Chanel or LV) I spent the day combing pre loves.... $10k ..... I just can't.....(God, I feel guilty I won't spend that on a handbag.... But fuuuuuu.....this is stupid.)
I really don’t understand why some people are making money for something you love. I buy bag or shoes because i love the item not to sale it. This why I always buy the classic not the trend. Call me basic but I would Rather wear something old but classic.
Great vid! I am from the States and was on vacay in London last October. Found a black mini w top handle at the Chanel store in Selfridges and had to get it. It was my first Chanel bag. they only had one at the store... in fact, as I was modeling it for my husband and inspecting it there were a few ladies waiting for me not to buy it. I bought it based on your advice on a previous vid about how the mini is a good value and it fits a decent amount of items since it doesn't have a double flap. Being petite it is the perfect bag for me. Thanks for all the great content and videos... xx
Its not about that.. Its about ROI, its always required from investors to increase profit against previous year. Thats all. Costs go up, prices go up, so profits can keep ↗️
Do you think the sudden drop has anything to do with people quickly listing their bags after the increase assuming they will make a sale and flooding the supply causing the opposite effect? (Price increase, current “investment buying” owners assuming more will seek pre-loved, listing all at once, too much competition, price tanks…?)
I also feel like social media crates the illusion that everyone is carrying these bags everywhere. When in reality, even in huge cities, this is not the case. A lot of smoke and mirrors. Also, we know the staff is not on the receiving end of these huge price inflation. A shame.
I have my Mum’s Chanel flap bags from the 80’s and your right they where not as quilted then as they are today. Plus I think they where made so much better back then. I definitely wouldn’t buy a new bag today. Due to the quality and especially not at their current prices.
Hermès never reduced the quality of their bags, like Chanel did. I love my Chanel bags, but they are all vintage. The one time I bought a newer bag, I didn’t keep it for long because it just didn’t have the “soul” the others have. Having said that, the one time I had a vintage Hermès I was too intimidated to ever wear it, so I sold it. The Chanels feel less pretentious too me so I’m not sure why they are trying so hard to compete…they will end up shooting themselves in the foot.
I just sold my Chanel jumbo to FP for $6000. I paid $3000. I knew when I let it go, I would not be willing to pay todays prices. I think I will save for a Hermes bag.
That was really interesting. So far I bought bags because I like and enjoy them. I never thought about "investing" in a bag. But what's been going on with Chanel in the last handful of years is mind-boggling. 👀
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great time to look at boutique designers, and small business owned tanneries in the us, canada, and mexico there is some incredible quality if you know what to look for.
These inexpensive Chanel’s you are stating went for a good price. You need to read the description. I’m sure they say very good but aren’t really. They are really expensive on fashionphile.
Maybe it’s a good thing to make these bags crazy expensive because in the end only rich people can afford luxury things because they have the money to buy it and still have tons of money left, it’s us poor middle class people who shouldn’t even be thinking about buying a luxury bag or anything that we can afford …idc what anyone says, idc about you saving all that money for it, it’s not smart to spend 9 gees on a bag if you’re only making less than 50k a year …even at 100k . It’s irresponsible because that 9 gees so go towards your regular bills or a savings. Makes no sense for me as a woman who isn’t rich and doesn’t dress up everyday makes zero sense for me to rock a Chanel bag or LV bag looking like a bum . Yes I would’ve loved some LV bags because of how beautiful and timeless they are where I could pass it down to my kids or something but over the years the quality complete went down hill . Also nowadays people are getting robbed because they are too flashy letting people know they got a lot of money . It’s just fact, yea do whatever you want could careless but let’s be real here I’m just trying to be real to myself
My last Chanel was a medium 2.55, bought at the flagship store for 3450€. I quitted Chanel since then and started the Hermes journey…. and I’m not looking back - the newer Chanel pieces are in worse quality but the prices are doubled - they can’t justify their price increases! I’m so glad that I invested my first Birkin 30 when it was low 7k euro, and it turned out to be much better investment.
The quilting has not always been flat on the vintage chanels. They were once puffy just like the new ones. The quilting just flattens out over time. It has something to do with the way they are sewn. You can tell because the quilting is a bit concave and not actually flat.
Interesting take. I’m not sure this holds true in the US. Jumbos have been selling for under retail for many years here. But the mediums and smalls are still going for at or above retail on the preloved market. Minis also sell for above retail. Business affinity depends but isn’t solid. 19s do pretty well too.
Right? I was listening to the video and was thinking it’s not really what is happening in the US. Jumbos yes , I’ve seen great prices, but the smaller flaps are still over retail, Chanel 19 in small is doing very very well ( and harder to find) and business affinity I don’t think they make any profit, I’ve seen great prices on them.
Totally agree. Last yr from fashionphile, I got a jumbo in excellent for 4,500 from fashionphile. Then got a CF caviar black ghw for 6,500 excellent as well. But then bam October/November hit and they went crazy. CFs are above retail or they are charging an insane amount for good or very good condition.
Prices went up everywhere, Saks Fifth Avenue has the mini flap in neon blue lambskin and silver hardware, BUT only available at certain stores. I checked fashionphile and the same bag preloved in different color is more expensive. I have seen a lot of preloved bags in Fashionphile and other online stores priced as high as new or even more. I honestly would go and pay full price to the store instead of buying preloved. I have heard a few complains about how these online stores missrepresent the condition ie. they list the bag as in very good condition when in reality the scratches and dents and corner wear make that bag just "good" or"used"
Agree. I think it depends entirely on the fashion trends and market demands as well, just like any other available products. These past years (2-3 maybe) there had surge in demands for smaller /mini bags (of any designer brands) making the Jumbo size or larger size bags decrease in the demands, hence the price drop. Let's take an example many years ago, Hermes Birkin 30 was super popular (still is now but less) but these past year Birkin 25 price just went up to the roof due to the demands and fashion trends for smaller bags, the same goes for Kelly 20 or Mini Kelly (Even much more appreciated if they come in rare exotic skin - reselling can go up to 45-50% depending on the condition). And if you look up, designer bags like Hermes or Chanel has become an "asset", and like all stock markets, they appreciate in price but also depreciate , in this case by market trends and demands.
In my opinion, the timing of these increases is off. Raise prices on luxury un-essentials during a pandemic? During war-times? During a time at which environmental consciousness and resource-saving is at an all-time high? Bad move. And I hope they learn the lessons!!
@@drdornesowerby5863 if we weren’t discussing $7,000.00 purses, I’d agree with you. But we’re discussing $7,000.00 purses. I love luxury, but I know that the prices are largely inflated for purposes of exclusivity. The brands could absorb much more of the cost. They’re just being greedy. A $1500 increase is ridiculous.
I don't know if anyone has read about them also recently opening their new Chanel 19M building. They made large investment in their infrastructure and human resources in the past few years. I feel this also contributed to them increasing prices to push profits especially during the pandemic.
I think that these bags are reaching a point to where the general population will refuse to purchase them because the prices are ridiculous. The super rich will always be part of their clientele however. Personally I would never. I would like to someday have a camera bag or small flap bag but Im doing fine with LV!
Chanel flooded the market with bags for years-compared to the Kelly or Birkin bags. That’s why they can’t just hike the prices and expect to have the same cache
Actually, I differ with your guidelines. Buying retail then selling on vestiaire costs the seller 20%. So the prices quoted pay the seller 20% less after the website fees. Buying new Chanel for resell at a profit is only attainable on a very sought-after item or selling direct seller to final owner.
those prices now are crazy, especially when i keep seeing people say the quality has dropped. I've been considering selling my boy wallet lately. I bought the YSL cardholder and havnt used my chanel in months (but i love the colour, which is why ive held onto it for now, its pink). Im so impressed with the YSL quality when i dont look after it at all and i had to baby the chanel (it was lambskin though)
I have always admired the vintage bags. I have also always thought that the older the better! Interesting to see how things are changing over to that way of thinking now! And yes, I do believe the quilting was always flat on the vintage bags! I actually quite like it! Of course, I don't mind either one, but I think it sets the vintage bags apart in my opinion!!
Thanks Sophie! Always a great take on the market! My gut feeling is that luxury brands are more aggressively seeking new markets as the traditional ones become more saturated. Possibly an element of elitism too, but maybe world events are now overtaking this. I would be very interested to see how things are in the market in 6 months as global slowdown seems inevitable. Maybe you can look at doing this again in a few months. As always, I love what you do and hope all is well with you, David and families xxx
Hermes style is totally different than Chanel style so for me Chanel increasing their bags prices doesn’t make me go to Hermes. The minis are a good first Chanel bag since you could resell them without losing money (profit depends on if you sell them directly not via a consignment store that charges a fee), but it is not worth the current price. If i was starting my collection now, i would go vintage first and then check the preloved market for seasonable bags. Price and quality will be better. I would only buy from boutique if i wanted an specific collection color or design or a hard to get item (for that, building relationship with an SA is a must).
Not sure if Chanel are trying to be Hermes, or whether they’ve increased the classics that much where they can make the same amount of money while producing less bags. Don’t forget those people selling their bags, while the price may be considerably lower than retail which benefits the buyer, the seller may have purchased it for lower again so they may be at least breaking even and getting what they paid for it which at minimum is what we would all want should we want or need to sell our bags.
I bought a black classic Chanel bag in the Chanel Bond Street store in 1989 , I paid £800 for it , as regards the quilting on the bag it is raised, I have never used it , I bought it on the same day as the Hillsborough disaster and as I got off the train in Sheffield I was shocked at what had happened in the city, I look at the bag on occasions ,I love Chanel but I will never forget that dreadful day .
I think the Chanel medium CF will have a come back in near future. Now the small handbags in general are hot but a medium or a small CF for that matter will always be on demand. I am sure that in a few years, the retail market for them will go nuts again.
@@Hamo_zz6oq I've got both of the sizes and love them both. But due to the current crazy prices for the CF bags, if I would have to choose, I would either go for the medium CF or the mini (if I want a smaller bag). I really love the look of the medium size, but for some reason, the mini size is my to-go bag. I hope it was helpful 🙏😘❤️😍
If we think back to the early 2000s (at least in the U.S.) when big labels were the popular thing. When a bear market began, the popularity of those items dwindled nearly overnight as people did not want to be presumed as “showy”. They were more concerned with preservation of capital and recovery since we were coming out of a rather prosperous stretch of time. The same brands sold more items with smaller logos and simpler (more timeless IMO) designs. The market may not hold for these investment bags in the next 10 years, but certainly I could see a distant future economic boom causing those markets to open up again.
With me it’s simple I refuse to pay for a bag over 2K. Maybe if my financial situation change I might look into paying a little more but so far I’m ok with not going over that.
The vintage bags are beautiful and the quality was top tier. I’ve always preferred the older bags. The price increases are ridiculous and turned me off completely.
I'm wondering if pre-loved is losing value because of issues with quality while vintage is up because quality is almost certainly better from what I've heard. I hope Chanel ups their game with the quality considering the pricing :( I get things cost more and its not unexpected but quality has to be there. Fascinating discussion thanks for sharing.
Thank you for another interesting presentation. Sophie. Yes, you’re absolutely correct. The quiltings on your vintage CF were made flat originally, because your guilts are flat and tight. Some vintage quiltings appear to be like deflated ballon, loose and sagging. Those quilts were made puffy originally. When I buy vintage Chanel, I have always looked for tight quilts. Flat and tight ones are 👍.
You may want to review current prices in the pre-loved market for Chanel bags. They have gone up significantly since the Fall 2021 prices you are quoting! Smaller flap bags still retain their value better than larger flap bags but the price of the larger flap bags are very close to current (new) retail prices. The prices are rather shocking!
Personally the constant and steep price raises makes me not want to support Chanel as a brand, it seems greedy. I understand it’s marketing technique to some extent, but I’d rather pick up a vintage Chanel if I see one at a good price, and buy new from other designers who have just a little more respect for their customers.
my mom's Chanel bag in lambskin (which is considered vintage) wasn't that puffy to begin with, i think with change of leather etc quilting became more puffy..
I’m 20 and I started getting into luxury bags two years ago (I don’t spend money on going out/cheap clothes and I save for a really long time to buy bags/designer items) I wish I was older so I could’ve started buying bags in the early 2000s but alas. Everything is getting way too expensive :/ I’m happy with what I have now and my alma and my victorine wallet were both preloved but it is frustrating that I’m getting kicked out of the game just as I was getting into the game :/
I’ve heard of someone say that Chanel might be in the works to have a bigger corporation buy them. So the price increases r to drive up Chanel’s value so chanel can be sold at a higher price. It may sound like a crazy idea but it’s looking more and more plausible with how many price increases we’ve seen in the last year
How did I get here? I watch video game videos and video essays…. I have no idea about bags, designer or otherwise. Yet, I not only clicked, but watched the whole video. And now, I’m outraged at channel.
Feeling I was being ripped off would spoil my pleasure in the bag. Chanel has got greedy and I think it will ultimately hurt the brand. It’s a shame but in light of all that is happening in the world at the moment, not being able to afford a Chanel bag is of no importance to me. Very informative video, thank you.
Very inciteful comment. I relayed the same message and was met with snark. This bag will not sustain my life or welfare. Look at what's happening in the Ukraine. My heart breaks for those affected 💔💔
Please be cautious of sympathy for Ukraine. We are being pushed into war with all the heroic images on TV. How does that end well for humanity? It does not. Does work for Biden admin because they can blame poor economy on Putin. Works for Congress with graft and military investments, both sides of aisle. I do appreciate your compassionate hearts.
@@GhostofMrsMuir1443 Do it understand it right that Ukraine is only having the war because Biden wants it? How nice of the Ukraine and Russian government to perform this act.
Chanel went down in quality so badly that even without price increase a lot of people don’t want to buy it anymore...only vintage pieces from 90’ and early 2000.
Now surely the superfakes market will beoverloaded with their bags
@@loisen Is that what I said? No. I said, let's be careful to not let our sympathies kill millions by getting into a global, god-forbid nuclear, war. But you do you.
As much as I love luxury bags, I can’t justify these prices. These designers have lost their minds. How is the LV Coussin worth almost 6k? It’s not. Over 9k for a medium Chanel? It’s baffling. I’m curious if these price increases will start to hurt them. I’m having a much harder time justifying these prices and haven’t bought much this past year. Plus the quality has gone down quite a bit.
These designers haven’t lost their minds. They actually know what they’re doing. They’re very much aware that there are lots of middle class people crazy/stupid enough to pay for such price. For the real wealthy people, throwing away such amount is like buying a bubblegum.
Plus, I think their target is to get rid of all these people who buy their bags like candy. They're trying to become, like hermes, "few and inacessible"...but to me this doesn't work. Also for birkins: there are a lot of them around, you can be bored by how many people owns one.
The price increases began when a luxury tax were imposed on them now almost nearing two years ago. They then decided that they would additionally add to the price tag as shipping and logistics costs also increased. As far as how this benefits or harms the company is not really known, as it also depends on manufacturing and acquiring the resources to produce them is also into question. It definitely will be interesting to see what happens. Shareholders and those putting into the investments of companies would prefer that a business is healthy and consumers maintain interest in the products. These are uncertain times for both those who want to resell for investment purposes, but also for ateliers if they cannot maintain the same level of obtaining the resources as they have done. If the latter happens, then you haven’t seen anything yet, in terms of pricing and the market segment (the consumers) will get a whole lot smaller and more exclusive.
Oh yeah, I quit buying luxury goods years ago when the prices started getting ridiculous. I’m amazed that people are still buying it. And they literally line up in front of the store like cattle! I cringe when I see these poor desperate suckers lined up in front of the boutiques at South Coast Plaza. Most of the designs aren’t even cute at all these days. The whole thing feels like a colossal joke. It will be a cold day in hell before I wait in a line like a farm animal for the privilege of being ripped off on some ugly, overpriced merchandise. Nothing luxurious about that. In my personal opinion, we are witnessing the final stages of the controlled demolition of the West. The luxury brands are doing a cash grab while they can before it all comes crashing down. The economic tsunami is coming. If you look at the M1 Money stock chart, it speaks for itself.
Fashion trends just aren’t too high on my list of priorities at this time.
@@ashleylala4293 👏👏👏👏👏
The point is, Chanel bags no longer has the quality and craftsmanship as they did before. They no longer look luxurious when taking a closer look. That’s how the continuous of price increase doesn’t make any sense.
I recall reading somewhere that Chanel was increasing prices because they want to price out the upper middle class customers. They would rather have a fewer amount of wealthier clientele who wouldn’t blink an eye at spending $8800usd on a classic flap; and they don’t mind losing the rest of us regular people who save up to buy our wishlist bags. So, I think it’s all working according to their plan.
I would argue that their bags are not *less* desirable, because we still wish we could afford them. But Chanel would rather have wealthy customers wearing their designs. 🤷♀️
Yes well said
Except they're too late, they've swamped the market.
Well their quality has gone to sh$& so those people are fools for paying these outrageous prices for less quality . Absolute nonsense
Wealthy women are buying fake bags now days, this is why they're wealthy. It's the lower/ middle class that will drop 3 mortgage pmts or entire income tax check on a handbag
My theory is that the bags have become over saturated. This can ruin the market for classic flaps from boutique and resale. Most Chanel enthusiasts already have one and look more for seasonal bags. Classic flaps recently have mostly been purchased by resellers. To stop this trade and eventual complete saturation and decline they raise the price to were only a few can afford from boutique but they are still technically available. This lowers demand and ruins the resale value. Inflation will eventually catch up and these prices wont be so obscene. By then the second hand market will have naturally balanced itself out. The obsession with buying investment bags will have passed. This may take 15 or 20 years but one day we will be able to walk in to Chanel to buy a classic flap and not have our jaw drop to the floor. Until then i think they want you to buy preloved.
the prices will be obscene regardless of inflation because wages arent rising with inflation! Certainly no sales assisants at Chanel have had a pay rise
@@jdmmi most corporations don’t care about what there people make. They pay the lowest they can get away with.
If I really fall in love with a bag I don't mind saving up for awhile to buy it, but what I've noticed with myself is that once I reach my price goal I realize how long it took me to save up and then I no longer want to spend the money on the bag which over time I usually get over wanting it anyway.
I totally feel the same. When I finally have the money I just can‘t bring myself to spend that amount that I saved for soo long JUST for a bag!! It‘s insane I could buy a car with that money haha
@@rrezeartazukaj6301 you are so right, car vs handbag, there is really no question there for me. Also when I have spent large amounts of money on something frivolous more times than not I have the buyers remorse.
True.. When i want something i took lots of photos and browse them daily until i no longer want them 😂 I cant stop my obsession with perfumes though 😁
@@duedate2811 Oh my gosh, I do the same thing. I look at a picture of my desired bag almost daily and after a while I just get tired of looking at it and often no longer want it. Truly lets me know how much I want the bag because the bags I actually bought I never got tired of looking at the picture.
Don't get me started on perfume LOL thats a whole other obsession for me too and probably have more bottles than I can ever use.
@@southcountyprincess7561 OMG don't let the perfume go off...it spoils after a while. I keep mine in the fridge.
The quilting flattens over time because it's puffed up with foam layer that deteriorates. Eventually that foam turns into powder. The only manageable way to revive the puffiness is to have the bag injected with liquid foam through the stitching lines. This is well worth the trouble IMO. (nobody would have their bag entirely deconstructed, relayered and restitched along quilt lines, the cost would be astronomical).
Chanel quilts have always been puffy. What's changed is the materials used. Before the use of foam sheeting, there were other more durable materials but they too, flatten over time, just not at such a rapid rate.
Sophie you haven't mentioned the year that those bags were made, only the year you bought them. This is the clue.
I've got Chanel tote bags that I've reopened via the lining, and inside there is a ghastly orangey powder. That's the foam that's decomposed.
Also in terms of trends the relevant factor is lifestyle changes some are settling in for the longer term. People are not back at the office, or engaging socially in the same numbers and don't need a larger bag to carry their needs for the entire the day. It's one off short trips for chores, and/or breakfast lunch meets etc.
There a more causal style throughout. Who's back to wearing suits and heels? Not a lot. The aesthetic is to use your small bag to lift your casual albeit designer, look. The bag in this sense is more like a punctuation mark. It's not the main event. IMO.
This says further that bags are not meant for as investment.
Cheaper materials are being used in every market; not just bags. Anyone try to buy a mattress lately? It’s the same concept. Foam is a big culprit in the breakdown of any product. I bought a mattress at just over 6k and within 2 years had to throw it out on the curb for disposal. The first mattress I ever bought cost under $800 and lasted over 20 years. The reason? The materials used were hand tied stainless springs and no filler. So now that’s all I buy. Throw a $300 topper over it and I just saved well over $5k. I’m all in for a good handbag but I won’t touch anything with materials made to disintegrate in just a few years. Spending a little more to move up to Hermes is a much better value in the long run.
@@catherinevalli6830 I buy commercial grade mattresses that are firm, and use a gel-infused memory-foam topper. It works like a dream...literally!
I like things that are built like a Sherman tank. I guess a Hermes qualifies but I'm not in that category yet. Bally bags are well made and reasonably priced. But they do make some ghastly bags. Hermes not so much.
The price increases in all of the top brands has made me become more interested in lesser known/popular brands (casa Blanca, Loewe, givenchy) inflation in general will cause so many brands to go up which gives us no choice to pay those prices for what we want. Fantastic video!!
Inflation shouldn’t really impact luxury prices in this circumstance.
We all have choices. I choose to no longer want luxury bags, I choose to no longer spend $2000-$3000 on bags.
@@laurakelleher1995 investors want the same level of ROI, so of course inflation has a direct impact. Costs of production increase, so profit needs to keep up for them.
@@babycaroline20 I literally didn’t say it doesn’t lol
Loewe prices are getting up there, too!
im over it honestly. the only bags ill buy in the future are from 80s or 90s. ive hit my max with chanel couple years ago. last i got was a 2.55 mini reissue and it was just under $4800 with taxes. i love it but refuse to buy more. the new prices are insanity.
People's values are changing as well. Conspicuous consumption is not so big. As Sophie says people are getting more into environmental and sustainability awareness. They also want the quality, which is deteriorating with new bags, by and large.
@@deborahcurtis1385 i agree many brands quality has plummeted
I’ve never spent over $2500 on a bag. Got a really cool D&G bag for my anniversary this year and I have a Valentino wallet on a chain. The D&G is more day-time, the Valentino more evening. But both are black so I guess I’m missing a light colored designer bag. Maybe I’ll get ysl or Gucci but I’m staying under the $2000 mark. To me $2000 on a luxury handbag is a splurge and a treat. Any more than that and I’d be eating into my retirement fund. But I really need to keep an eye on smaller purchases that can add up.
I totally agree, I'm all about vintage now over buying new. It's a new sort of thrill of the chase trying to track down the vintage bags of my dreams!!
@@karandonnakaran Agreed!
I bought a Medium/Large Chanel classic flap (lamb skin with silver hardware) a couple of days ago from a well known/trusted seller. It's immaculate and not a mark on it...Came with box, dust bag, authenticity card and original receipt. I paid £4,250 for it. Very happy! Not bothered about resale value...not planning on selling it x
Hello, would you be willing to share that seller. I was looking for some on resale websites, but haven't found the style I want in a good condition with dust bag, etc.
A big congratulations on your beautiful new bag my friend!xxx
If you wouldnt mint and willing to share that seller?🌷
Wow what a bargain! Would love to know the sellers name too if you are ok to share - thanks a lot x
Congrats on your new bag!!!!!!!!!! I hope you get to enjoy it for many years to come
I agree. It’s not 2010 anymore. You don’t need more then one every five years. Plus Coach, Tory Burch, many other have bags under 500$ just as high quality
if the price in too out of touch I think it actually makes the brand less cool b/c it's unapproachable and makes you look a little douchy carrying it
PREACH! I cringe when girls say it's an investment. An investments gives money back. Real state, bonds, stock funds are real investments. So it just boggles my mind when people justify buying an overly priced purse and think it will generate them money somehow, maybe I can see it... but it does not make sense to me. I just watched a CZcamsr say she bought a $60 candle so it was an "investment" like what! We really need to be smarter with our money! On another note, I'd die for a medium size vintage Chanel bag from the 90's. I love the quality and the worn out leather look. Maybe one day, but I will def not call it an investment.
For me, I started buying Chanel 20 years ago in my twenties and the price was affordable kind of expensive. So throughout the years, I sold and then upgraded my collection. That's why the profit I made from selling could always compromised the increasing rate. I just got a new small CF in lambskin and I could foresee that I couldn't make any profit from it, at least in the coming 10 years. However, I am still happy to buy a new one (well... my lovely husband paid for it though) as it is not always about money but the enjoyment I get from getting a brand new classic. But honestly, I am not interested in buying another new one. I just got a preloved but never been used jumbo in beige caviar @ 55k (from 2012) and although it is expensive, I think I would make profit eventually, if I am willing to sell it 10 years later. Just my two cents.
$7475 in UDS with tax is over $10k. as far as I'm concerned the "safest" place for that kind of money is a bank earning interest.
The vintage ones look just as nice . My friend has a Chanel medium flap bought in 2020 and I don't think the quality is overly better than my Coach parker.
I disagree about the medium bag. A medium black caviar bag in excellent condition can be sold almost at the retail price now. The bags you showed were made of lambskin and their condition was not excellent. There are long waiting lists at boutiques and I have not seen any available medium black caviar bags at consignment shops or websites in Europe for the last 12 months. The medium bag contrary to the jumbo one will always be desirable because it was the original size of the bag that Gabriele Chanel designed. I predict that the resale prices of the small and mini bags will have a sharp decrease in a few years as happened with the jumbos because nothing fits in the smaller bags, they are not practical at all.
You have been to many stores. Thank you for doing all the observation
@@Sunset553 Thank you for your comment. To be fair, the prices of the Chanel medium bag fell this year as all the luxury resale prices including the prices of the Birkins and the Kellys. In Europe, however the resale prices are higher than in the US.
From my perspective as someone who used work in the finance industry, purchasing classics with the view that they are an investment is just a trend, trends always end & the hype over luxury will die down (which is also a current trend). We will get to the point where the market is completely over saturated, people will loose interest & move on (that’s just human nature). Couple that with the current (completely unsustainable) hyperinflation & the pre-loved prices will drop, possibly even plummet (there are qualified analysts who would have a better idea about when & how than I do).
I personally loose interest in pretty much everything when I see a lot of other people with it, so my attention has been drawn to mid-range much lesser known brands, bespoke & high quality one off pieces handmade by a local artisan. I still have a few luxury items in mind (which I have no intention of ever selling), & will always love luxury fashion, but I’m feeling less of need to consume, the more I see other people with it.
Share some good brands? :)
I completely agree with you.
💯💯
Since college, I had planned to get a Chanel classic flap for my 40th birthday. Now that I am a handful of years away from that date, with all the price hikes and saturation I’ve seen in person and on social media I have been re-evaluating and thinking of alternative options. For the price I had in mind to save up, I could get a Chanel mini or at that point in future a chain wallet (lol) or get a whole lot of bag from Celine, YSL, Givenchy or Loewe. And possibly still have some money left over for a coin case or keycase. TBH the bootleg and copycat market has also made me less inclined over the years to get excited about the classic flap style.
Same here!
How do u feel about replicas?
When I first started following handbag you tubers it was all about the classic Chanel Jumbo. Right now it’s all about Birken and Kelly from Hermès. The only thing we know for sure that there is always another hot trend coming. I predict that in the next few years we will be talking about something we can’t even imagine right now!
You're definately right Brigitte!xx
That’s why it’s best to buy something you really like that is not outrageously expensive. There are many other options for investment than luxury bags!
I’ve never felt that any of these items are worth it unless you can buy it and not miss the money one but. Otherwise it’s a waste. Not that they aren’t beautiful and covetable, just not a store of wealth.
I've been a collector of many collectables for about 27 years. There's always a time and a season for collectables, and using them as investments is very risky. Don't invest in anything as a collectable unless you have money you know you can lose, or if you plan to flip in the near future. If you're just buying to enjoy/wear first, and maybe sell for whatever reason later then it doesn't matter.
I’m a little bit over bags and ‘stuff’ in general. At 35 I’d rather spend my money on property and interior decorating. Whilst a have a very beautiful wardrobe, I think I’m ‘there’ with that and I don’t have a big desire to get a chanel or Hermes bag. The cost of living is ridiculous at the moment and I fear things are only going to get worse for our generation and younger. I bought my flat last year and my boyfriend owns his house. I feel like we are moving away from ‘wearing’ our money and ‘living in’ it instead.
I think Chanel wants to adjust the kind of people that buy their bags. Especially the classic flap. It's become such a trendy bag and it doesn't seem like they want it to simply be a trendy bag.
I think Chanel forgets that even rich people have a consumer threshold of spending for products-luxury included.
I don’t agree with you here. Pre-loved bags are selling for sky high prices in the US & Canada. You can’t find a medium classic flap for under $7k Canadian unless it’s series 1 or 2. The resale prices increase with the retail increases.
Same as in Australia
This is just insane! Prices are rising on everything around the world. Those who may want to buy one of these bags will not buy it when the price is high. And as you said, you cannot get your money back out of it. Groceries are sky high and petro is astronomical. The best thing to do is keep your bags until this inflation is over. This is bonkers!
This is an unstable market I’ve cut back on fashion… sigh
Desirability needs time to establish itself. I think that increases are so often that people just get annoyed and don’t know what the brand is aiming for. When vision of the brand gets established in upcoming years, then people will pay more in pre-loved market.
I agree.
I think the resale market is balancing itself out on the bigger bags right now. If a lot of people were buying Chanel, they were likely buying one of the bigger bags and those trying to resell now are met with people going to the second hand market to find a good deal.
Maybe in a year or two, when everyone will expect to pay at least 5k for any Chanel, the more common bags will resell for a better price.
Of course they need to sort out any quality issues if they want to reach Hermes's status.
I find the entire concept of "investment bags" and investment items when it comes to fashion in general very anecdotal.
You can make more money out of a fashion item or sell it for what you bought it only if it's in a great condition.
For the likes of Kim Kardashian who have thousands of bags (therefore, probably haven't worn anything more than 2-3 times maximum) and keep them in temperature - controlled closets,etc. yes, those people absolutely won't lose a penny on their items. However, for the everyday person who can afford luxury items that won't be as true. Someone who has 4 designer bags probably wants to wear them all the time and with the wear out comes a price decrease unless you have a truly unique item which isn't available anymore.
So as much as I love fashion, I would never recommend to anyone to treat it as an investment because chances are you won't end up making any substantial profit out of it.
I’ve got 4 including jumbo I’ve worn max 10x. Still nice to get 30%-50% towards the next bag I like.
Exactly. Buy it because you love it and enjoy wearing it!
Great watch, thanks! I think vintage is becoming more desirable because those bags have quality and craftsmanship.
A bag is a bag. You hand over what you consider to be a commensurate sum of money for the item you wish to own. It’s not an investment. It’s a bag, regardless of its pedigree.
I work in luxury retail, and from experience I can tell you that regardless of these increases people are actually buying more. A few of my friends work at Chanel and they are selling more now than ever before. However, I will say that truly wealthy clients don't care about these price increases... they simply aren't buying what everyone else is. They could care less about classic bags because they want what's new, not what everyone else craves.
Also, I feel like there's just no way around all the price increases because inflation. Everyone is increasing their prices, so the way I see it Chanel doesn't want to be as attainable as Dior, LV, Fendi, Gucci, etc. The price point is part of their brand's image. Therefore the only thing they can do is increase their prices.
This! You’re right. I think LV is doing the same thing and these price increases will not stop until people stop buying them. Pre love should not be seen as making money but a way to get rid items that you don’t use and buy a new one with the money you get from selling it. For instance, I bought a Gucci 1955 mini bag and it costed me $750 with tax Hawaii price (original price was $910 now $960) but barely used it so I decided to sell it online but they were quoting me at a super low price. I went traveling for three months in Korea and sold there for $670 which I think better than the ones that I got offered from online store although I know the price of the bag in Korea is way more than what I’ve sold for.
Most major economists theorised they have increased the prices because they can use inflation as an excuse.
Inflation is not 20% or 30% is less, so it’s not about inflation. It’s about profit
@@claudiaames580 To be clear, I never said it wasn't about profit. In fact it can be because of both. Second, in economics that's exactly how luxury goods behave. Simply put, their demand DISPROPORTIONATELY grows with rise in income. So there are a number of factors at play, including inflation and rising inequality which both move the demand curve up (causing prices to rise), and supply shortages which cause the supply curve to move down (which further causes prices to rise while quantity supplied goes down. So having 7% inflation and 20-30% rise in prices of luxury goods makes complete sense, since again that's exactly how luxury goods respond in economics. Their prices don't rise linearly at a 1:1 ratio, but more likely exponentially. So the higher the inflation, the higher the price to inflation ratio.
@@laurakelleher1995 Like I said to someone right now, that's simply how luxury goods are expected to behave in economics. To be clear, yes economists support the fact that the prices of luxury items disproportionally rise with inflation. However, they do not believe it's because "inflation can be used as an excuse". Again, it's how luxury goods behave and economists simply observe how things happen and theorize why they happen.
Inflation can rise for multiple reasons, but two big factors right now are supply shortages and rising inequality in most countries. Both of which are causing even normal goods to go up in price, which actually causes inequality to rise as well, and unfortunately both factors create a positive feedback loop. Second, a luxury good behaves the way it does because for most people they are seen as status symbols. Therefore, as people begin to purchase more because they can, luxury prices naturally have to rise (disproportionally) since the demand curve is moving right. On top of that, supply shortages move the supply curve left which further increases prices and decreases quantity.
Moral of the story is, inflation is not "an excuse" for the rise in prices. Inflation is a proven cause and observation for the rise in prices. Of course, take this information as you will. I am providing it as an economist from a top university in California.
I love the flat quilting so much. Your bags are stunning. In my opinion, the vintage or rather the 24K plated bags are a better purchase. I don’t mind some wear either, gives the bag character especially if it’s decades old😊
Same feeling. Vintage all the way.
Same
Agreed I am a Chanel vintage lover
I am wondering whether the same thing will happen to Hermes.. it is scary for people who are looking at luxury handbags as an investment.. as opposed to something that they really love and plan to ‘use’ for a lifetime.. coz a few years ago.. getting a Chanel flap bag was a milestone for so many CZcamsrs and now i see their social media filled with birkins and kellys every couple of months.. the Hermes bag buying game.. as much as I find it absurd.. i think Hermes and Chanel are going in opposite directions and which strategy stands the test of time.. well.. only time will be able to tell!
Another great thing about pre-loved is that you can see how the leather and the metal parts look after using the bag. Then you won't have any big surprises.
Many of us (who just started our designer collection) we’re saving for at least one bag that we consider our must have (my case Chanel) in my savings journey to Chanel… I found myself having enough money to get my ultimate dream bag (not Chanel but Hermès) a Birkin… Chanel price keep going up to the point that I told myself go for the one you really want it… and sadly it wasn’t a Chanel bag… Many of us dream of an Hermès bag, but compromised for other brands… now all this other brands have about the same price, so we just decided to save for what we really want. Hope that’s not confusing 😅
Hello Ingrid, no that makes total sense and I think that the Birkin is a much better bag. The fact it was what was in your heart too must also have made it so special to buy and own. Enjoy it and thank you so much for watching and commenting :) Hugs xx
Chanel makes you buy Hermes 😅
I agree Ingrid
@@veronicavenditti3614 actually it is true! Now, it backfires Chanel. 😁
But it's almost impossible to get a birkin at retail without spending alot of money. Birkin is also my dream bag but I refuse to spend 4 times that amount in store just to be considered for a birkin or Kelly. 😭😭😭
Such a good video! The fact that Vestiaire shows you the actual SOLD price is such valuable information! And for Chanel, I actually think everything in the classic flap design is an investment....as long as you hold on to it long enough. For me, even with price increases, my desire for these bags have not gone down at all 🙈. Chanel has enough clout that they can raise prices first, and then think about quality afterwards, if you can afford Chanel at 9k USD, you can afford it at 10K USD. I do think though their goal is to first reduce the clientele, then maybe improve on the quality.
I think the resale market is balancing itself out on the bigger bags right now. If a lot of people were buying Chanel, they were likely buying one of the bigger bags and those trying to resell now are met with people going to the second hand market to find a good deal.
Maybe in a year or two, when everyone will expect to pay at least 5k for any Chanel, the more common bags will resell for a better price.
Social media has promoted the luxury market bags,cars and shoes it’s my opinion that they don’t want the regular middle class customers to purchase they want to remain niche therefore they are pricing lower income buyers out
Because of these insane price increases, I’ve been more into contemporary brands lately. The quality is there and the prices are a lot more reasonable. Thanks for a great video, Sophie. 😊🥰
Vintage all the way! Quality was excellent, designs were actually creative and they are just special. The Chanel bags you have showed from Luxury Promise are amazing, definitely from the 80's and 90's. Karl Lagerfeld at his finest. 😎 New Chanel or any luxury brand? Boring as heck and made like crap. Oh and they want 7 grand for the privilege. Ha!
I'm content and happy with my vintage bags. Some I bought new at the time and others I purchased from preloved sellers. I just sold 4 of my LV bags, passed them on to others who will enjoy them as I did. 😊
I love the vintage bags, so chic!xx
I wonder if the Chanel bags are getting bumped up because a) they are taking advantage of more profit or b) they see their brand as becoming 'common' and therefore less desirable to the class they want to attract. I personally have seen it so much now that it no longer interests me.
I think so it's becoming too common with the peasants.🤣. I don't know of any thing except gas price that this happens to.
Especially with fakes all over
@@annhans3535 what peasants have 5k to spend on a purse??
@@phillyjawn7734 exactly. It price increases are making the bags unattainable
If you want a special bag for that price and you can pay for it in full that makes sense. My concern is how many people are deep in debt just to look affluent to everyone else. Most of the people I see on a daily basis wouldn't know Chanel from Walmart.
First I want to say that i love your video’s.
And to your video: last year I bought a vintage (1989) Chanel medium Classic flap for € 3.850 here in The Netherlands. Perfect mint condition, puffy leather and no marks. I love vintage and at the time I thought this was a better investment than new.
Happy Sunday,
Stephanie
I think you have made a right choice with that vintage. The problem with Chanel now is their classics seem to lose value with these constant price increases
Hello Stephanie and Karina, thank you both so much for watching and commenting btw, you're both so lovely :)
Stephanie - your 1989 vintage sounds beautiful, and I love that it's a 1989! I think that's so cool and I'm not sure about you, but the leather on the vintage ones feels so tactile.
I'm more into the vintage ones now, exept for the forethcoming heart shaped bag, that is so cute, but otherwise it's vintage for me :) Hugs to you both xx
I am new to buying luxury bags, so my collection is small. But with the constant price increases, I have a feeling it’s going to remain small. I wished I could have started buying bags years ago when the prices were more reasonable. At this rate I believe they’re going to start losing potential buyers because it’s becoming too unattainable financially. Great video thanks for the wealth of information!
Personally I think it’s about what’s in fashion at the moment. It’s a moment of small bags, people don’t want a massive handbag like they did once upon a time. I think that will change in the next few years and larger bags will be trending again. When that happens jumbos will most likely have a better resale value
I always only buy the bag if I like it but not take it as an investment, jumbo is too big for me. Currently I have a few Chanel bags altho I don't use them much but I don't plan to sell them as I love them as my collections! I buy some other less expensive bags for daily use such as Loewe, Bally, LV, Celine
I cannot imagine spending £7000+ for a bag. WOW. Do you think they'll ever drop their prices? Is that even a possibility?? Yes, I'm aware that's probably a daft question, but at some point something's gotta give! Especially with the quality issues some of the brands have had recently.
No, Chanel will not drop prices. It's not the brand that does any kind of "sale" because it will drop their luxury reputation
Hello my friend! I think they're going to keep going up - can you imagine if they became more expensive than Hermes?! That would be mad, but I can imagine it happening. Hugs xx
@@SophieShohetOfficial yes they are really trying to be like the Hermes Trio they shouldn’t produce them at the rate they do if they want the price/ exclusivity/ scarcity. they should be more lower quantity and better quality than they are!!
@@KarinaSwan Chanel wreaked their own reputation when they started working with influencers and then again when they decided it was a great time to raise prices during a worldwide pandemic, Chanel isn't exclusive and the brands moral compass is not there, so for so many people Chanel has lost all credibility and lux feel.
The only way for them to drop prices is if people stop buying and that is not happening
I am a personal shopper in Paris, and it is so crazy to know that the classic flap is 7800 euro. Glad I could get the mini flap bag in black just because the SA loved my makeup lol, and it was 3800 euro. If I were to buy for myself I would buy preloved for the medium classic flap. The new one is crazy, and you could get Hermes with that amount!
Hello, I hope you are well.
You seem to know quite a bit about the luxury trade.
I want to create a brand of luxury handbags of very good quality.
I plan to manufacture them in Europe. Could you tell me if the brand made in Italy sells more than if you make it in a country like Spain (which also has very good craftsmen).
Also, I would like to know if it is better to sell your luxury product at a lower cost, like 400 dollars or so, so that more people can buy it or if it is better to sell it at a higher price so that the product has more exclusivity.
I would also like to know how important is sustainability in the luxury sector, because I don't know if I should make my products with recycled leather (or other sustainable products) or with traditional leather, what do you advise me?
I really don't know much about what will be better, I want to offer very good quality and beautiful models.
Thank you very much for your time, best regards.
@@luc2645 Hi Lu C, so sorry for the late reply, I did not see the reply notification.
Uhm...actually brand made in Italy is seen as better quality when it comes to Leather goods, depends on your segment tho. And if you come to Paris, here there are many indie luxury brands like Polene for example, Jacquemus, that are 'affordable' and they maintain their unique designs and quality. If you sell at higher price and people do not know anything about your brand, it will be a dead end for the brand I must say.
Oh well....sustainability in fashion industry is a joke, I have to be honest. Because when you create a new product using new materials, it is not sustainable. BUT it depends on how you see it. :D
I hope it helps! And if you make one, create a better quality than Chanel! :D
Price vs quality. Chanel quality does not match the price they are attempting to charge at this time, it is a simple fact. While there may be some who still purchase the bag new for the luxury experience, I suspect they will see a drop in those groups. Hermes quality has been steady throughout the years and I believe that has a lot to do with their ability to maintain their value. I've seen other channels refer to Hermes as "family bags" where a mother will pass along a bag to one of her children and so forth. It is timeless and with proper care it will last.
It sucks for those who were really young when Chanel bags were somewhat affordable. I’m now at the age where a Chanel classic flap is something I feel is such a staple to have in my wardrobe. Unfortunately with all of the price increases, I’ve just been so hesitant to make the purchase. Why couldn’t I have been this age in the early 2000’s!!?? 🥲
I was thinking about buying a bag brand new for clearing my debt, but now I'll be shopping preloved until the market changes. I think they have done this as Chanel is becoming very accessible and it doesn't go hand in hand with the brand's mysterious vibe. I wish Chanel the best because before I buy the bag I'm gonna see what I can get elsewhere
Pre-loved all the way! And you can even find next to new bags on there for less, it's worth taking a look. Hugs and have a great week ahead :) xx
I have wanted a Chanel bag, but I am not spending $7-10k (which it seems are the prices now.) I am shocked at these fair/good pre-love bags that indicate odors inside, cracking edges and airbrush/paint ... Going for $5k all the way up to $10k. I just.... I think I have been pushed out. $5k is my max, and I can't even seem to find a stinker in my budget (Chanel or LV) I spent the day combing pre loves.... $10k ..... I just can't.....(God, I feel guilty I won't spend that on a handbag.... But fuuuuuu.....this is stupid.)
I was going to purchase a chanel bag for the classic beauty of it but now I’m no longer interested in it. I’m so over it with Chanel.
I really don’t understand why some people are making money for something you love. I buy bag or shoes because i love the item not to sale it. This why I always buy the classic not the trend. Call me basic but I would Rather wear something old but classic.
Great vid! I am from the States and was on vacay in London last October. Found a black mini w top handle at the Chanel store in Selfridges and had to get it. It was my first Chanel bag. they only had one at the store... in fact, as I was modeling it for my husband and inspecting it there were a few ladies waiting for me not to buy it. I bought it based on your advice on a previous vid about how the mini is a good value and it fits a decent amount of items since it doesn't have a double flap. Being petite it is the perfect bag for me. Thanks for all the great content and videos... xx
Its not about that.. Its about ROI, its always required from investors to increase profit against previous year. Thats all. Costs go up, prices go up, so profits can keep ↗️
Do you think the sudden drop has anything to do with people quickly listing their bags after the increase assuming they will make a sale and flooding the supply causing the opposite effect? (Price increase, current “investment buying” owners assuming more will seek pre-loved, listing all at once, too much competition, price tanks…?)
You're likely right.
I also feel like social media crates the illusion that everyone is carrying these bags everywhere. When in reality, even in huge cities, this is not the case. A lot of smoke and mirrors. Also, we know the staff is not on the receiving end of these huge price inflation. A shame.
I have my Mum’s Chanel flap bags from the 80’s and your right they where not as quilted then as they are today. Plus I think they where made so much better back then. I definitely wouldn’t buy a new bag today. Due to the quality and especially not at their current prices.
EXACTLY! 😀
You're right those bags weren't made to be puffy back in the 80's. I also believe the quality of the 80's is better.
Hermès never reduced the quality of their bags, like Chanel did. I love my Chanel bags, but they are all vintage. The one time I bought a newer bag, I didn’t keep it for long because it just didn’t have the “soul” the others have. Having said that, the one time I had a vintage Hermès I was too intimidated to ever wear it, so I sold it. The Chanels feel less pretentious too me so I’m not sure why they are trying so hard to compete…they will end up shooting themselves in the foot.
I just sold my Chanel jumbo to FP for $6000. I paid $3000. I knew when I let it go, I would not be willing to pay todays prices. I think I will save for a Hermes bag.
Yeah… no fashion is investment especially for mass products even though it’s expensive. Hermes is the only investment bag.
That was really interesting. So far I bought bags because I like and enjoy them. I never thought about "investing" in a bag. But what's been going on with Chanel in the last handful of years is mind-boggling. 👀
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that's good to know 😃
great time to look at boutique designers, and small business owned tanneries in the us, canada, and mexico there is some incredible quality if you know what to look for.
These inexpensive Chanel’s you are stating went for a good price. You need to read the description. I’m sure they say very good but aren’t really. They are really expensive on fashionphile.
Maybe it’s a good thing to make these bags crazy expensive because in the end only rich people can afford luxury things because they have the money to buy it and still have tons of money left, it’s us poor middle class people who shouldn’t even be thinking about buying a luxury bag or anything that we can afford …idc what anyone says, idc about you saving all that money for it, it’s not smart to spend 9 gees on a bag if you’re only making less than 50k a year …even at 100k . It’s irresponsible because that 9 gees so go towards your regular bills or a savings. Makes no sense for me as a woman who isn’t rich and doesn’t dress up everyday makes zero sense for me to rock a Chanel bag or LV bag looking like a bum . Yes I would’ve loved some LV bags because of how beautiful and timeless they are where I could pass it down to my kids or something but over the years the quality complete went down hill . Also nowadays people are getting robbed because they are too flashy letting people know they got a lot of money . It’s just fact, yea do whatever you want could careless but let’s be real here I’m just trying to be real to myself
My last Chanel was a medium 2.55, bought at the flagship store for 3450€. I quitted Chanel since then and started the Hermes journey…. and I’m not looking back - the newer Chanel pieces are in worse quality but the prices are doubled - they can’t justify their price increases! I’m so glad that I invested my first Birkin 30 when it was low 7k euro, and it turned out to be much better investment.
The quilting has not always been flat on the vintage chanels. They were once puffy just like the new ones. The quilting just flattens out over time. It has something to do with the way they are sewn. You can tell because the quilting is a bit concave and not actually flat.
Interesting take. I’m not sure this holds true in the US. Jumbos have been selling for under retail for many years here. But the mediums and smalls are still going for at or above retail on the preloved market. Minis also sell for above retail. Business affinity depends but isn’t solid. 19s do pretty well too.
Right? I was listening to the video and was thinking it’s not really what is happening in the US. Jumbos yes , I’ve seen great prices, but the smaller flaps are still over retail, Chanel 19 in small is doing very very well ( and harder to find) and business affinity I don’t think they make any profit, I’ve seen great prices on them.
American here and I agree - - preloved jumbos only seem to be "relatively" good buys within the classic flaps.
Totally agree. Last yr from fashionphile, I got a jumbo in excellent for 4,500 from fashionphile. Then got a CF caviar black ghw for 6,500 excellent as well. But then bam October/November hit and they went crazy. CFs are above retail or they are charging an insane amount for good or very good condition.
Prices went up everywhere, Saks Fifth Avenue has the mini flap in neon blue lambskin and silver hardware, BUT only available at certain stores. I checked fashionphile and the same bag preloved in different color is more expensive. I have seen a lot of preloved bags in Fashionphile and other online stores priced as high as new or even more. I honestly would go and pay full price to the store instead of buying preloved. I have heard a few complains about how these online stores missrepresent the condition ie. they list the bag as in very good condition when in reality the scratches and dents and corner wear make that bag just "good" or"used"
Agree. I think it depends entirely on the fashion trends and market demands as well, just like any other available products. These past years (2-3 maybe) there had surge in demands for smaller /mini bags (of any designer brands) making the Jumbo size or larger size bags decrease in the demands, hence the price drop. Let's take an example many years ago, Hermes Birkin 30 was super popular (still is now but less) but these past year Birkin 25 price just went up to the roof due to the demands and fashion trends for smaller bags, the same goes for Kelly 20 or Mini Kelly (Even much more appreciated if they come in rare exotic skin - reselling can go up to 45-50% depending on the condition). And if you look up, designer bags like Hermes or Chanel has become an "asset", and like all stock markets, they appreciate in price but also depreciate , in this case by market trends and demands.
In my opinion, the timing of these increases is off.
Raise prices on luxury un-essentials during a pandemic? During war-times? During a time at which environmental consciousness and resource-saving is at an all-time high?
Bad move. And I hope they learn the lessons!!
Higher prices of materials and higher overheads mean higher prices, while maintaining the luxury premium.
@@drdornesowerby5863 if we weren’t discussing $7,000.00 purses, I’d agree with you.
But we’re discussing $7,000.00 purses.
I love luxury, but I know that the prices are largely inflated for purposes of exclusivity. The brands could absorb much more of the cost. They’re just being greedy. A $1500 increase is ridiculous.
I doubt about making much money reselling on VC. After they takes 20% charge, it would be lucky to get what you spent.
So true Hazel xx
I don't know if anyone has read about them also recently opening their new Chanel 19M building. They made large investment in their infrastructure and human resources in the past few years. I feel this also contributed to them increasing prices to push profits especially during the pandemic.
I think that these bags are reaching a point to where the general population will refuse to purchase them because the prices are ridiculous. The super rich will always be part of their clientele however. Personally I would never. I would like to someday have a camera bag or small flap bag but Im doing fine with LV!
Chanel flooded the market with bags for years-compared to the Kelly or Birkin bags. That’s why they can’t just hike the prices and expect to have the same cache
Actually, I differ with your guidelines. Buying retail then selling on vestiaire costs the seller 20%. So the prices quoted pay the seller 20% less after the website fees.
Buying new Chanel for resell at a profit is only attainable on a very sought-after item or selling direct seller to final owner.
those prices now are crazy, especially when i keep seeing people say the quality has dropped. I've been considering selling my boy wallet lately. I bought the YSL cardholder and havnt used my chanel in months (but i love the colour, which is why ive held onto it for now, its pink). Im so impressed with the YSL quality when i dont look after it at all and i had to baby the chanel (it was lambskin though)
I have always admired the vintage bags. I have also always thought that the older the better! Interesting to see how things are changing over to that way of thinking now! And yes, I do believe the quilting was always flat on the vintage bags!
I actually quite like it! Of course, I don't mind either one, but I think it sets the vintage bags apart in my opinion!!
Thanks Sophie! Always a great take on the market! My gut feeling is that luxury brands are more aggressively seeking new markets as the traditional ones become more saturated. Possibly an element of elitism too, but maybe world events are now overtaking this. I would be very interested to see how things are in the market in 6 months as global slowdown seems inevitable. Maybe you can look at doing this again in a few months. As always, I love what you do and hope all is well with you, David and families xxx
Hermes style is totally different than Chanel style so for me Chanel increasing their bags prices doesn’t make me go to Hermes. The minis are a good first Chanel bag since you could resell them without losing money (profit depends on if you sell them directly not via a consignment store that charges a fee), but it is not worth the current price. If i was starting my collection now, i would go vintage first and then check the preloved market for seasonable bags. Price and quality will be better. I would only buy from boutique if i wanted an specific collection color or design or a hard to get item (for that, building relationship with an SA is a must).
Not sure if Chanel are trying to be Hermes, or whether they’ve increased the classics that much where they can make the same amount of money while producing less bags. Don’t forget those people selling their bags, while the price may be considerably lower than retail which benefits the buyer, the seller may have purchased it for lower again so they may be at least breaking even and getting what they paid for it which at minimum is what we would all want should we want or need to sell our bags.
I bought a black classic Chanel bag in the Chanel Bond Street store in 1989 , I paid £800 for it , as regards the quilting on the bag it is raised, I have never used it , I bought it on the same day as the Hillsborough disaster and as I got off the train in Sheffield I was shocked at what had happened in the city, I look at the bag on occasions ,I love Chanel but I will never forget that dreadful day .
I think the Chanel medium CF will have a come back in near future. Now the small handbags in general are hot but a medium or a small CF for that matter will always be on demand. I am sure that in a few years, the retail market for them will go nuts again.
Thanks for the comments!! Do you think between medium and small which is more popular? :)
@@Hamo_zz6oq I've got both of the sizes and love them both. But due to the current crazy prices for the CF bags, if I would have to choose, I would either go for the medium CF or the mini (if I want a smaller bag). I really love the look of the medium size, but for some reason, the mini size is my to-go bag. I hope it was helpful 🙏😘❤️😍
If we think back to the early 2000s (at least in the U.S.) when big labels were the popular thing. When a bear market began, the popularity of those items dwindled nearly overnight as people did not want to be presumed as “showy”. They were more concerned with preservation of capital and recovery since we were coming out of a rather prosperous stretch of time. The same brands sold more items with smaller logos and simpler (more timeless IMO) designs. The market may not hold for these investment bags in the next 10 years, but certainly I could see a distant future economic boom causing those markets to open up again.
I think you’re right about the vintage quilting. Right or wrong I agree about the coolness factor-yours is fabulous
With me it’s simple I refuse to pay for a bag over 2K. Maybe if my financial situation change I might look into paying a little more but so far I’m ok with not going over that.
keep in mind the vestige fees. They don't really make a profit on that.
The vintage bags are beautiful and the quality was top tier. I’ve always preferred the older bags. The price increases are ridiculous and turned me off completely.
I'm wondering if pre-loved is losing value because of issues with quality while vintage is up because quality is almost certainly better from what I've heard. I hope Chanel ups their game with the quality considering the pricing :( I get things cost more and its not unexpected but quality has to be there. Fascinating discussion thanks for sharing.
Hello Nicole, that's a good point, I hadn't thought of that. You've really got me wondering now!! Hugs xx
Thank you for another interesting presentation. Sophie.
Yes, you’re absolutely correct. The quiltings on your vintage CF were made flat originally, because your guilts are flat and tight.
Some vintage quiltings appear to be like deflated ballon, loose and sagging. Those quilts were made puffy originally.
When I buy vintage Chanel, I have always looked for tight quilts. Flat and tight ones are 👍.
You may want to review current prices in the pre-loved market for Chanel bags. They have gone up significantly since the Fall 2021 prices you are quoting! Smaller flap bags still retain their value better than larger flap bags but the price of the larger flap bags are very close to current (new) retail prices. The prices are rather shocking!
Personally the constant and steep price raises makes me not want to support Chanel as a brand, it seems greedy. I understand it’s marketing technique to some extent, but I’d rather pick up a vintage Chanel if I see one at a good price, and buy new from other designers who have just a little more respect for their customers.
I have a jumbo new with tags from 2019 and don't know what to do with it. Never took it out of the box.
my mom's Chanel bag in lambskin (which is considered vintage) wasn't that puffy to begin with, i think with change of leather etc quilting became more puffy..
I was in a Chanel store this past Thursday and was told that the Jumbo lamb skin was $10,000 USD !!!!! Not a blink of an eye 👁 $10,000 !!!!!
But one have to take in consideration the fees for sellers at VC. The profits are not lucrative (actually minus) after the commission/fees…
I’m 20 and I started getting into luxury bags two years ago (I don’t spend money on going out/cheap clothes and I save for a really long time to buy bags/designer items) I wish I was older so I could’ve started buying bags in the early 2000s but alas. Everything is getting way too expensive :/ I’m happy with what I have now and my alma and my victorine wallet were both preloved but it is frustrating that I’m getting kicked out of the game just as I was getting into the game :/
I’ve heard of someone say that Chanel might be in the works to have a bigger corporation buy them. So the price increases r to drive up Chanel’s value so chanel can be sold at a higher price. It may sound like a crazy idea but it’s looking more and more plausible with how many price increases we’ve seen in the last year
How did I get here? I watch video game videos and video essays…. I have no idea about bags, designer or otherwise. Yet, I not only clicked, but watched the whole video. And now, I’m outraged at channel.