Who says Chanel holds its value?!

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  1. Apologies if this specific topic has been discussed (I did a search and couldn't find anything). I did find many posts about Chanel handbags having good resale value, holding their value, things like that, but I am personally finding out that this is not actually the case. What's the real story? Are my expectations just unreasonable? I'm trying to get at least 70% of the original cost back on a Chanel classic that is in extremely excellent condition, is that not appropriate to expect? I know it's only a handbag but I'm pretty upset by this! And yes, I have tried multiple reputable resellers, consignment shops, etc. I am not interested in dealing with evilBay. Any thoughts or suggestions are welcome and appreciated! TIA!
     
  2. Can you give us examples of what you are finding? Chanel does hold it's value, second maybe only to Hermes or other rare brands. It may also depend how many of this bag are out there and how long you've had it....
     
    Arlene619 likes this.
  3. Designerhbgirl, I've found the same thing. Several months ago, I thought about selling my Dark Blue Reissue 227, a bag that would now retail for $6K, although I bought it one price increase ago. It's in like new condition. If memory serves, Yoogi's Closet offered me about $2,700. That was the consignment price, not the lower buyout price. Ann's wasn't much better. I decided to just hang on to the bag, and have worn it a couple of times since.

    In contrast, I recently sold a vintage Hermes Kelly through Fashionphile, and they sold it -- quickly I might add -- for more money than I paid for it a couple of years ago. Because of their cut, I lost a little bit of money, but not much. It was worth it to me because, like you, I don't want to deal with eBay.

    I've realized that if I ever buy another Chanel, I really can't think about resale at all. I think the exception might be minis because they are so hard to find in stores.
     
  4. Because you use consignment shops which charges like 20%-30% commission, you end up losing, however the bag is still worth more than what you get paid. It's just 20-30% of that goes into the pocket of consignment shops. However it's not the case for many popular youtubers or people on Instagram which have many followers who would buy their secondhand bags directly from them...
    I personally don't think selling a like new condition Chanel through consignment shop is a good deal. I'd rather use the bag as much as I can before selling it... as the "decay of price" just slows down more and more with the use of bag..
     

  5. Excellent points!
     
  6. any bag worth some resale value would need to be held for 10+ years.. that is when the bag has time appreciate in value over what you paid, and get some money back. turning a bag around in a few months, or even 1-2 years will lose its value. it's a combination of time passing, the bag remaining valuable and interesting, and the condition. i buy and resell my bags a lot and they mainly lose. the old addage of buy low is best... the bags i can always resell for the same price are the ones i got preloved. the biggest myth is that bags will make people money and so many women think they are really investing in something... such economic stupidity, to be honest. bags are not a monetary investment and you should know that going in you will lose, and sometimes substantially ... no amount of hype online or with forums or youtube will make your bag valuable in the end. most of what you have, you won't make back, so i always tell women not to go into debt for any bag, ever, b/c once you pay that money out, it's pretty much gone.
     
  7. +1, 100%
     
    Arlene619 likes this.
  8. I feel like bags holding value is a common misconception. Nothing holds value better than jewelry imo. I think only Birkins are the only exception because they do hold their value...IF they are in amazing condition. But for any other bags...the value starts to spiral down the moment you touch it.

    Bags are never a monetary investment and never really should be. That's why when people buy bags and call it an "investment" I start to laugh! It may be a good investment in terms of how much you use and love it...but it is definitely not an investment that holds its value.
     
  9. In my opinion Chanel does not always hold its value. Somebody I know recently sold her M/L classic flap in fantastic condition for £1700 where she had paid around £3000 for it. If something holds it value, you should be able to get at least your money back.
     
    SweetDaisy05 and agnesman1996 like this.

  10. I totally agree!
     
  11. i wouldn't go through consignment sites like that if you are trying to maximize what you get back --- i've sold some preloved designer items (mainly LV) directly and have managed to get back at least 70% of what i've paid - took a little while, but i was in no hurry for funds, so i wasn't going to accept lowball offers.
     
  12. I think what people misinterpret 'hold its value' because of Chanel past prices you were paying a lot less than they are today, for example classic flap bags 10-15 years ago would cost significantly less and would match up to prices of leather Louis Vuitton/ Celine bags and of course with prices going up each year or so people estimate that the Chanel classic flaps will cost the same as a Birkin bag in the future. I'm sure if you hold onto the bag long enough the value of it will increase but not necessarily for the price you paid especially if it's used.

    Non classic flaps are another story, as someone said above minis are an exception especially rectangular black mins as most people would settle for those instead of a double flap. I've seen some being sold for nearly £1,000 over retail. As for other styles they're not really great for keeping value.

    I guess most luxury brands like PRADA and Dior don't always hold their value and in comparison Chanel probably has the better re sale value along with Louis Vuitton speedy's/ neverfulls but buying a bag to make most of your money or all of your money won't always happen.

    Buy what you love rather than what you may get back. Considering re sale value is good but you can't let that make your decision for you because you're almost guaranteed to make a loss.
     
  13. well said:smile:
     

  14. So true!! Agree 100%
     
  15. #15 May 12, 2016
    Last edited: May 12, 2016
    Thank you all so much for the thoughtful and honest feedback. I really do appreciate it. Just so I don't come across as a total flake, let me set the record straight about a couple things:

    * I bought my reissue because I love it, not with resale in mind at all. In fact it kills me to have to sell it.
    * At the time of purchase I could easily afford it. Life sometimes takes unexpected turns and circumstances can change without any warning.

    I admit I was having a bit of a rant when I posted originally. In my opinion there is a lot of hype in this particular forum about how Chanel has good resale value period, and I believed it until I found myself in the position of having to sell. I realize now that was my mistake.

    Regardless of all this, I mean it when I say I really appreciate all of the thoughtful responses. This is why I love the purse blog - I know everyone is only trying to help and has the best of intentions! Thank you all :smile:
     
    shinypenny and SweetDaisy05 like this.
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