Some people are shopaholic and just enjoy the experience of spending money.
What I bought + sold my Chanel bags for...not bad!
- Thread starter ladybug333
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Some people are shopaholic and just enjoy the experience of spending money.
True... a lot of these youtubers and influencers are shopaholics. the extra money they earn from sponsorships, ads, etc... only fuels their addiction and hoarding. They also are easily influenced by others because they feel the need to stay current with their handbag collections and keep up with the “influencer joneses.” It’s sickening, but I do think they make purchasing mistakes like the rest of us. Since they are buying higher volumes, the purchases that don’t work out for them will naturally be higher.
I am thinking of getting one second hand but I worry that the experience just isnt the same as getting a new one.I know we often hear the debate about whether Chanel bags are an “investment.” While I don’t think they are an investment in the way stocks are, I do think they’re less risky to purchase than people may assume when they look at the price tag, especially because of the continuous price increases.
I recently sold 4 Chanel bags in December 2020 to Fashionphile and thought I’d share with you what I originally paid for each bag and what I sold it for. (Note: These were sold BEFORE the recent price increase, so if I’d waited another month, I probably could’ve received more). Some bags I almost broke even on, while others cost me more to own. With the exception of the 19 bag, I had owned all of these for over a year. When I look at these numbers, it honestly just makes me feel like buying bags at this level is less risky than it seems. I also sold bags from other designers (Gucci, Chloe, Valentino, for example) and their resale value was MUCH worse than Chanel’s.
So, let’s look at the numbers!
BAG #1: Chanel Classic Flap Medium Lambskin GHW Black
BAG #2: Chanel 19 Black Medium/Regular
- Original price: $4,700 (I purchased this in France in Aug 2019. This price is after my tax refund).
- Sold for: $4,500
- Amount paid: $200
BAG #3: Chanel So Black Reissue 225
- Original price: $5,256 (I purchased this in Sep 2020 so I only had it for 3 months. I sold it because I didn’t end up liking it but it was past the return window. I was selling a bunch of other bags so I just added this one to the list, but it would’ve been smarter to wait a year or two to sell it since the price increases help resale value).
- Sold for: $3,500
- Amount paid: $1,756
BAG #4: Chanel Red Seasonal Flap Bag
- Original price: $5,400 total (purchased this one used, but in excellent condition)
- Sold for: $4,800
- Amount paid: $600
My thoughts?
- Original price: $4,300 (includes tax)
- Sold for: $2,900
- Amount paid: $1,400
The most classic bags, like the classic flap and the reissue, had excellent resale values IMO. I had both of those for over a year and I feel the prices I paid were very fair for a year of use.
The seasonal bag and 19 bag resale values make sense to me since one is a seasonal bag that no one would be actively searching for and the 19 bag I had only just purchased 3 months prior (so there hadn’t yet been any price increases to drive up the value).
To be clear, I didn’t purchase any of these with the desire to resell them. I just purchase what I like and if I eventually don’t resonate with a bag anymore, I’ll sell it.
Overall, this “experiment” makes me feel quite comfortable purchasing classic Chanel bags despite their high prices, especially because of the annual price increases (which aid resale value). I’ve actually lost more money purchasing bags from other high-end brands, even if the bags originally cost less.
Not trying to prove anything with this haha, just thought I’d share! I welcome your thoughts.
There are many of us that get caught up in the "fever" and make mistakes or love of pieces at that time. Seasons change and we wake up one day and no longer stargazing over that bag. I have purchased a so black 227. Wore it 5 or 6 times and realized - really after the first time, it was not for me. The bisoux chain didn't sit well on my shoulders and drove me crazy.
That bag was in pristine condition. End up selling it for almost 15% loss through FP. Ouch!
If I had to do it over, should have held onto for the 3+ price increases.
I applaud the OP for taking action and selling her bags. A good lesson learned on the price of luxury. I like the analogy about renting and how we typically take a loss when reselling things... like my car.
That bag was in pristine condition. End up selling it for almost 15% loss through FP. Ouch!
If I had to do it over, should have held onto for the 3+ price increases.
I applaud the OP for taking action and selling her bags. A good lesson learned on the price of luxury. I like the analogy about renting and how we typically take a loss when reselling things... like my car.
Yeah my consensus for this thread would be, for Chanel bags especially classic flaps, just keep it in your closet for a few years until the value rises. If you can get a 5% increase per year, that’s better than bank interest and many reit investments.
I never do the buyback feature. Most of these bags were originally purchased new, but if I’m selling a bag back to Fashionphile then I’ll always submit it for a normal buyout quote. It’s always higher than what the buyback amount would’ve been.
Many of these comments are really surprising to me. I enjoy Purseforum because it’s a fun place to discuss our love of bags. I created this post because I genuinely thought it would be helpful — and looking up the data/prices for everything took me awhile to find, but I wanted to share it because I haven’t seen any posts like this and I thought it could help someone. Many of these judgmental comments are making me question why I took the time to share this here and whether this forum is the kind of place I want to spend my time. Consider asking yourself, “Am I adding helpful value to this conversation? Am I being kind? Or am I resorting to judgment because someone is sharing information that triggers me?”
I found it super helpful! I don't think it's realistic to expect to make a profit or get all of your money back on pre-owned bags, regardless of the brand. Just like a car, once you take possession of the item, it's now used/pre-owned - no matter the condition. It seems to be a common misconception that you won't lose money if you buy a Chanel and want to sell it later. Those cases are the exception, not the norm. I appreciate that you shared your actual experience with us!
It was helpful to see a real life example!
Yes some of these comments were just mean and uncalled for. It’s like if you have nothing positive to say, don’t say anything at all, it’s not a roasting session.
Handbags are to be loved, sometimes we are lucky to make a bit of profit on them, sometimes we don’t. ignore the negativity. Thanks for sharing!
I agree with this. This was my experience with 3 different totes, including the Neverfull. Finally realized that totes just aren't for me. Gave 2 away and sold the Neverfull. OP thanks for sharing your story. It really gave me food for thought.
I agree with you. Some of the comments were uncalled for but I think it just got off topic. I dont think it was directed towards you. BTW, your post was helpful to me as I am very new to Chanel, just so you know
That’s what I meant, buyout, not buyback. I think the latter has something to do with buying from them and selling back which is totally separate. I have never gotten more than around 50% from them in quotes.
I guess I’m just surprised that so many people buy beautiful brand new Chanel bags and then sell them so quickly. I would never sell my black classic flap or so black Chanel reissue. They will be passed down to my granddaughters or nieces as I don’t have daughters of my own
The fact that I have had two of my Chanels for over 10 years now makes me proud. That’s why I bought them - to enjoy and wear through the times as I get older and eventually pass down.
I’m not into the buy and flip consumer culture. The influencers really take this to another level. Buy, post a pic on Instagram, sell. Repeat. If that’s how some people want to live, fine, but just know that you’re taking bags away from people like me who buy once and cherish forever. I missed out on two unicorns at the boutique and I’ll never be able to have them now because I refuse to buy preloved on principle.
I found your post to be very helpful and informative and I’m glad you shared your experience, thank you!
These bags are not investments. Hopefully you buy what makes your heart sing and it works for you. But if it doesn’t, it’s the cost of learning and experimenting!