Right?!! Like hello, you LOST 4,000 lol... that isn't a good thing for bags. I can see losing it for a car or home or stock, but owning some of those pieces for less than a year or just a few months? That is giving money away. I guess you have $4,000 to waste, that would be my take on someone who thinks this is a great ROI lol.
What I bought + sold my Chanel bags for...not bad!
- Thread starter ladybug333
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Personally, I wouldn’t have sold BAG #2: Chanel 19 Black Medium/Regular if I only had it for 3 months. It’s just not long enough to generate any profits to be considered as an investment. Things aren’t an investment if they aren’t generating a return for me. In total, with all the bags OP listed, that’s almost $4000 loss. That’s a LOT of money (at least to me).
I have sold bags in the past (not Chanel), and it’s always at a loss. I don’t consider my bags as investments that give me financial gains. This is also why I am almost at “purse peace” with my collection. Throughout these years of bag buying, it helps me realized what works for me and what doesn’t. Hence, minimize loss.
Overall, I don’t consider any luxury goods as investments - bags, fine jewellery, ready to wear. 99% of the time, you lose money, just to what extent.
I have sold bags in the past (not Chanel), and it’s always at a loss. I don’t consider my bags as investments that give me financial gains. This is also why I am almost at “purse peace” with my collection. Throughout these years of bag buying, it helps me realized what works for me and what doesn’t. Hence, minimize loss.
Overall, I don’t consider any luxury goods as investments - bags, fine jewellery, ready to wear. 99% of the time, you lose money, just to what extent.
I haven’t sold anything from LV, so that’s great to know that you’ve had a similar experience with them!
Is it less risky though since you still lost money ?
The other brands that sold for less, how much less were they to buy originally? If they were bought at the same price as Chanel then yeah they're more risky.
The other brands that sold for less, how much less were they to buy originally? If they were bought at the same price as Chanel then yeah they're more risky.
I sell to Fashionphile. The last time I sold some bags, I got quotes from Fashionphile, Rebag, Ann’s Fabulous Finds, and Yoogis and Fashionphile offered the highest bid across the board. So now I just save time and only submit to them.
I hear you. I agree that the losses on the 19 and seasonal bag were pretty significant, but for the more classic styles like the reissue and classic flap, I feel like those losses were pretty small, considering I owned those bags for over a year.
I agree with you — I don’t consider bags as investments either. I just think that if you’re buying Chanel’s most classic styles (classic flap, reissue), then the risk is quite low since they are in high demand and have the best resale values.
As for the 19, I agree that I could’ve waited longer to earn more. You live and learn. Honestly, I probably could’ve held onto ALL of these bags for a few more years and sold them for a lot more. I just have an aversion to clutter so I wanted to feel like I had a clean slate. Maybe not the most sensical to others, but it works for me.
Personally, yes I think it’s less risky even though I lost money. Perhaps I shouldn’t have posted the 19 and seasonal bag, since those threw off the results for some obvious reasons. But if you take only the classic flap and reissue, I feel like spending $200 and $600 respectively to own and wear some beautiful Chanel bags for over a year is not a bad price. I’m not purchasing bags to earn a profit and not suggesting they are an “investment,” but I do often see posts from people who are terrified to buy a Chanel bag because of the cost. I feel like this post sheds light on the fact that yes, the bags are not cheap. But if you buy specific styles, then there isn’t tremendous risk involved either and you could always sell it and earn back close to what you paid.
As for the bags I sold from other designers — to give you an example, I purchased a Chloe Faye for $2,200 new and sold it to FP for $325. I also purchased a Valentino Rockstud for around $3,100 new and sold it to FP for $1,320. So, I do consider these bags higher risk because the resale value is so poor. I’ll also say that although I used my Chanel bags about the same as bags from these other designers, the Valentino and Chloe bags looked a lot more worn and did not hold up as well as the Chanel purses. I know Chanel gets a lot of flack for diminishing quality, but based on my experience they hold up really well, which also contributes to better resale value.
Thanks, @ladybug333, for the comparison. Very interesting info. I also cleaned my closet last year and sold quite a few to FP. One thing I accidentally found is that different buyers offer very different buyout prices. I submitted a PST for a quote (1st quote) and realized I should have added the box to the description (2nd quote). 1st quote (no box) was 25% more! So if you don’t like quote, wait a few weeks to submit again. Also I feel that FP is fair... after all, it removes all risks and hassle of selling myself.
I’ll also add that I just don’t really see life in the same way. I may have spent $4k to own these bags (all of which I had for over a year aside from the 19), but I don’t consider that a “loss.” I learned. I learned that I better LOVE that seasonal bag I’m about to buy since the resale value will be pretty bad if I ever want to sell it. I learned that if I’m not feeling something, yet really want to love it, like the 19 bag in this case, then time won’t always make me like it more and it’s better in the long run to just return it.
Everything has a lesson. Some lessons are just more expensive than others.
It’s ok to buy something then decide it isn’t for you. It’s ok to sell things at a loss. Bags aren’t part of your 401k plan. =). Hopefully everyone already budgets before they even buy these lux items in the first place.
Yessssss! My thoughts exactly.