Do you think Chanel handbag prices are "astronomical"?

[Perplexed]

I think it is worthwhile to spend that much on Chanel and / or Hermès bags. But this statement is conditional, and relies on many factors or conditions. These conditions may reflect one's beliefs, lifestyle, spending and saving habits. For instance, if you and / or your family are used to spend on luxury items, you might feel it is fully appropriate. If your family would disapprove of such purchases, then it would be more difficult to pull the trigger and justify the purchase.

Further, it is important to place such a purchase not on the top of your priorities, and make sure you can afford to pull out 4,5,6K for a bag, without compromising on other important purchases (mortgage, social security, insurance...). I believe that the potential buyer should not create any financial problems with such an expensive purchase.

Finally, as one might expect, this way of consuming luxury is not directly linked to one's income, but rather to one's incentives, aspirations and values. That is, I really believe that people who have a limited income, can be able to purchase Chanel bags at 4,5,6K, if they saved money, were reasonable with their savings, and of course morally ready to pull the trigger. Actually, many people do so, even here on tPF, and I admire those people. Because it shows that they are determined, and follow through with what they value and what they want. I cannot recall the name of the author (I guess it was Axel Dumas from Hermès) but he said something really important in that vein: "buying luxury is a choice". And he's absolutely right.

And of course we pay for the unique, timeless, age-less and high-end Chanel items, which will stay with us for ever. I believe that if you love those items, then you should not let the high price become the incentive for not buying it.
It is also worthwhile because those who work hard, need rewards. And if luxury did not exist, then I do not know how we would reward ourselves. It's the big indulgence, the extra that we feel we deserve after a stressful period. And it makes us happy.
Just my 2 cents.

I agree with this poster!

Personally, I am surprised at how much higher the prices of a jumbo or maxi are these days, but since I feel my old ones are enough I can't justify any new ones, except if the right shade of pink made an appearance. However, because I love my Hermes bags I can easily say that I would pull the trigger much faster to get my 2nds in other colors. So it really depends on personal preferences as well.

Also, I agree with the previous poster who said that one should never go into debt for a bag.

 

[Adrian Ho]

It depends on how you value the brand. Some people are willing to pay whatever amount of money to buy Chanel. For example, people are buyiny mini for 3,100 for a small bag, with that price tag, you could get a much bigger size bag.

Most times we are just paying for the brand name and history behind it. Would you pay Longchamp (also a French brand) for a all leather bag for 5k? I think we all know the answer.

Chanel represents luxury and luxury doesn't come cheap.

 

[Ellyella]

I feel like I want to give my two cents here. I noticed that some posters mentioned the investment aspect of Chanel bags, that the prices are always increasing, you should buy it now and see it as an investment. While I think this is very reasonable and certainly true bc the prices are always increasing, but I don't think you should buy a bag with the expectation that you will sell it one day at a higher price i.e. investment. I think you should only buy a bag bc you want it, and you know you will use it and love it, live in the moment. I have bought many seasonal pieces, are they investment worthy? probably not. but i love them, and i have used them a lot. The ones that have been sitting in my closet after one or two uses are the more classic pieces, for example, gst, classic flaps in m/l size, kisslock clutch. I bought them bc they were "classic", but I feel like I just like the idea of them, but not the bags themselves.

 

[CassieH]

This might sound kind of sadistic, but what if Chanel's astronomical prices was part of its appeal?

Ridiculous, perhaps..but one can't help but wonder....

 

[Doodles78]

This might sound kind of sadistic, but what if Chanel's astronomical prices was part of its appeal?

Ridiculous, perhaps..but one can't help but wonder....

I do not think this is ridiculous. Consumers associate high prices with quality, whether it is true or not, and there is an element of exclusivity Chanel wants to maintain, so prices keep going up.

 

[Doodles78]

I feel like I want to give my two cents here. I noticed that some posters mentioned the investment aspect of Chanel bags, that the prices are always increasing, you should buy it now and see it as an investment. While I think this is very reasonable and certainly true bc the prices are always increasing, but I don't think you should buy a bag with the expectation that you will sell it one day at a higher price i.e. investment. I think you should only buy a bag bc you want it, and you know you will use it and love it, live in the moment. I have bought many seasonal pieces, are they investment worthy? probably not. but i love them, and i have used them a lot. The ones that have been sitting in my closet after one or two uses are the more classic pieces, for example, gst, classic flaps in m/l size, kisslock clutch. I bought them bc they were "classic", but I feel like I just like the idea of them, but not the bags themselves.

Good point. I do not view my bags as ¨investments,¨ as in assets that are purchased with the hope that they will appreciate in the future so I can make money. I buy them because I love wearing them. There are certainly lots of examples where a Chanel bag will get you back a great ROI ten to 20 years down the road, but I suspect many more examples where people lost money selling their Chanels or should have put the money elsewhere if they were just looking to invest.

I do, however, consider my bags ¨investment pieces,¨ meaning I invest a chunk of money and the ROI is the years and years of use and enjoyment I plan to get from them.

Let me add, though, that I think it´s perfectly reasonable for a consumer who is making the decision whether to buy a bag to consider whether, in general, the brand or a particular model holds its value. You never know if/when you might have to or want to sell a bag.

 

[antschulina]

This might sound kind of sadistic, but what if Chanel's astronomical prices was part of its appeal?

Ridiculous, perhaps..but one can't help but wonder....

I really enjoy this thread! It gets more interesting with every other contribution! So many interesting ideas have been mentioned!

I think there is some serious truth behind your statement CassieH, and totally agree. Indeed, I have recognized one important aspect of this 'appeal', which I first noticed with H Birkins and Kellys. These bags are very limited and at a very high price. I believe that prices and availability of H bags are made at some point for the (artificially created) exclusivity of the bags. Because at a demand for Bs and Ks that high, they could simply hire more artisans, or open another manufacture. But they prefer to keep their production at a limited amount of bags, with long waitlists. That is, if you can owe a Birkin, it means that you obviously have enough money to pay for it, AND you have a bag that is rare, difficult to get, and exceptional. We all see more LVs at many places, but somehow less Birkins, Kellys, and Chanels, for obvious reasons. And there is this whole 'status' symbol behind such bags. At Chanel it might be less obvious than at H, but it's still there, or at least underway. For instance, I was told by my SA that classic flaps will become rarer and more expensive, and it sound like a big step towards an exclusivity strategy, similar to H.
I think it's comparable to expensive memberships at golf clubs.

 

[bonsai22]

Good point. I do not view my bags as ¨investments,¨ as in assets that are purchased with the hope that they will appreciate in the future so I can make money. I buy them because I love wearing them. There are certainly lots of examples where a Chanel bag will get you back a great ROI ten to 20 years down the road, but I suspect many more examples where people lost money selling their Chanels or should have put the money elsewhere if they were just looking to invest.

I do, however, consider my bags ¨investment pieces,¨ meaning I invest a chunk of money and the ROI is the years and years of use and enjoyment I plan to get from them.

Let me add, though, that I think it´s perfectly reasonable for a consumer who is making the decision whether to buy a bag to consider whether, in general, the brand or a particular model holds its value. You never know if/when you might have to or want to sell a bag.

When I "invest" in a Chanel bag, I don't do it with the intention of making money off my bag (even though in case I have to sell I know I could receive around 80% of what I paid for, assuming it is in great condition). I think the ROI is being able to wear the bag for many years without it going out of style.

 

[ang3lina33]

I mainly carry maxis and large boy bags and their price point are in the $6k range after taxes... and with the deteriorating quality and inconsistencies, I'm thinking of starting to invest in H!!!

 

[Sparkletastic]

I mainly carry maxis and large boy bags and their price point are in the $6k range after taxes... and with the deteriorating quality and inconsistencies, I'm thinking of starting to invest in H!!!

I completely understand your post in regards to disappointment with quality issues. I've read a lot about people being frustrated and disappointed with the newest bags. These bags cost a lot and there should be no compromises on quality. I'm "lucky" in that I have a crazy passion for single classic flaps and am not the biggest fan of double classic flaps. So I'm buying preowned new or like new bags from when quality was not perfect but relatively good.

But...I gotta say. Even if I were buying my Chanels from today's lot and slightly disappointed in the quality, I couldn't see me switching into Hermes because I'm not the biggest fan. I do like the Kelly a bit but I don't drool over it like I do with some other bags. I wonder if Dior might be another option for some people (like me LOL!) as some of their bags have a similar aesthetic and also have great quality.

 

[ang3lina33]

I completely understand your post in regards to disappointment with quality issues. I've read a lot about people being frustrated and disappointed with the newest bags. These bags cost a lot and there should be no compromises on quality. I'm "lucky" in that I have a crazy passion for single classic flaps and am not the biggest fan of double classic flaps. So I'm buying preowned new or like new bags from when quality was not perfect but relatively good.



But...I gotta say. Even if I were buying my Chanels from today's lot and slightly disappointed in the quality, I couldn't see me switching into Hermes because I'm not the biggest fan. I do like the Kelly a bit but I don't drool over it like I do with some other bags. I wonder if Dior might be another option for some people (like me LOL!) as some of their bags have a similar aesthetic and also have great quality.

You know, when I was younger I used to wonder what women saw in birkins and kellys. I thought they were ugly! As I've gotten older I've learned to appreciate their timelessness and now find them quite beautiful. Not to mention the beautiful supple leather...

Just like you all of my maxis are also single flaps! Ha... Go figure. I just don't see myself buying a brand new Chanel at a boutique due to their quality alone. So I agree with you on the pre-owned bags being of better quality. I don't mind the pre-loved market if I can find a gem.

 

[Mariapia]

I think that if you asked people how much a Chanel costs in their opinion, you would get much lower estimates....
Lots of my friends have absolutely no clue about high end bag ( or clothes) prices.
They know Chanel, Hermès, LV or YSL purses are a lot more expensive than let's say a Longchamp Cuir but they don't know by how much....
Chanel prices are astronomical of course.
As Cassie put it, if they were much lower, I am not sure they would sell as much.
All luxury brands know that!

 

[CrackBerryCream]

Yes, I find them astronomical because I know what the costs were 8 years ago when I got my first. I still want a classic flap though lol

 

[LeeMiller]

Yes, I don't want to go more than 3k on a handbag. More just doesn't fit my lifestyle. Maybe when I'm a multi-millionaire I'll feel differently. For now my new couch with custom fabric cost about $6,500, and I just don't see spending that on a purse. My friend who definitely doesn't have seven figures saved yet is buying a Hermes bag so people definitely have different views on the subject!

 

[fabuleux]

This might sound kind of sadistic, but what if Chanel's astronomical prices was part of its appeal?

Ridiculous, perhaps..but one can't help but wonder....

I was reading through the thread and found your comment. I think you are 100% right! Part of the appeal of luxury brand IS the astronomical prices. Psychologically, the item becomes more "special" because we paid more, we sacrificed more. And in return, this totem says something about us as individuals. It's not just Chanel by the way: all luxury brands are concerned. Even contemporary brands follow the same framework of asking their customers to pay a premium for their products.