Chanel handbags are among the most sought-after items in fashion. Thanks to their classic designs and iconic styles, the brand’s handbags hold a top spot in any fashion fan’s wishlist. Yet, they’re also some of the most expensive bags on the market, making them a luxury that becomes less attainable as price hikes and inflation take hold.
While Chanel offers a wide variety of styles—from the Boy bag to the Deauville tote—the brand’s Classic Flap bag is its top seller and one that many fans consider an entry-level piece into the Parisian brand of its quintessential Chanel look. It’s also highly popular in the secondhand market. In 2023, according to the platform’s annual report, it was the top searched handbag on The RealReal and the highest in demand for Gen Z shoppers.
First released in 1955 under the name 2.55, the Flap Bag we know today was launched by designer Karl Lagerfeld in the 1980s. Its signature double-C logo, chain-and-leather straps, and quilted material make it easily recognizable. But that doesn’t mean it comes cheap. The Chanel Classic Flap bag is one of the most expensive accessories in the luxury market today, alongside handbags like the Hermès Birkin and the Dior Lady bag. And following recent price hikes, more and more aspiring buyers are left scrambling for a Classic Flap of their own.
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Breaking Down the Cost
There’s a plethora of Chanel Classic Flap bag versions available today, and its price depends highly on the size, color, and material you select. But there is a standard minimum cost. A Chanel medium Classic Flap bag, for example, now starts at $10,800 after a recent increase in March 2024. Meanwhile, the mini Classic Flap bag has a minimum price of $5,200. While the price of classic styles is known, the cost of limited edition releases is only available upon request.
This hasn’t always been the case, though. When the Chanel Classic Flap bag was first released in 1983, the cost was $1,000 (about $3,000 in today’s value), according to Sotheby’s. Its cost has significantly increased since 2016, when the bag’s price was just under $5,000. Today’s cost reflects a 120% increase. If the brand continues to increase prices at this rate, the medium Classic Flap bag can go up nearly $10,000 more in the next few years.
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Why It’s Considered an Investment
Sure, the Chanel Classic Flag bag comes at a hefty price. But its demand and price on the secondhand market make it a fair investment. In 2020, handbags were better investments than fine art, according to stats from the Art Market Research group, with brands like Chanel, Hermes, and Louis Vuitton experiencing an increased valuation of over 100%.
And that holds true for the Classic Flap bag. According to Rebag’s 2023 Clair report, which measures the demand and valuation of luxury handbags and accessories, the Chanel Classic Single Flap bag held a little more than 100% of its value last year on the resale market. Meanwhile, the brand’s Classic Double Flap Bag had a 42% increased valuation since 2022.
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Other Chanel Handbags To Consider
While the Chanel Classic Flap bag may be a considered must-have, the brand has an expansive roster of handbags to choose from that are still as good to invest in. The Chanel 22 handbag, for example—a hobo style that’s known for its relaxed shape and Chanel frontal logo—had a 104% return on investment in 2023, according to The RealReal. Meanwhile, the Chanel Deauville Tote—a rectangular oversized bag named after a seaside town in Normandy where Coco Chanel opened her first boutique—retained over 110% of its value in 2023, according to Rebag.
It’s clear that, as Chanel handbag prices increase, the return continues to be a fair trade off, making them a fashionable investment that, as evidenced, will stand the test of time.
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