Written by Kathryn Andes
Chanel handbags are one of the most coveted luxury pieces a person can own. If taken care of properly, Chanel handbag can be a lifelong investment in your personal style, and an investment in a resale opportunity.
During the height of the pandemic, Chanel rolled out its first of three price increases. In May 2020, the luxury fashion house increased the price of certain bags – including the 11.12, 2.55, Boy, Gabrielle and Chanel 19 – from a range of 5 to 17 percent. A few months later the designer brand introduced its second increase in October 2020 and boosted their handbag price by another 5 percent. Most recently as of July 2021 Chanel increased the value of styles such as the Chanel 19 by 10 percent, and the classic Maxi Flap, and similar bags by another 15 percent.
This means that the luxury consignment market will be booming with new arrivals of Chanel handbags very soon. With a low supply and a high demand, now is the best time to consign your Chanel handbag as all second hand bags recently increased in value along with the product price increase. Consignors and resellers can rest assured that the value will only go up from here, based on the consistent annual 6.5 percent increase on Chanel items.
Regardless of these spikes in prices in such a short period of time, the value of Chanel handbags will only continue to increase, surpassing double the rate of inflation, and matching competitor brands like Hermes. In a typical year, luxury brands like Chanel are expected to raise prices at least once due to labor and material costs, but the patterns of price increases during the pandemic will most likely occur again at an exponential rate.
With customers eager to shop and luxury brands hungry to make up for lost revenue during the COVID-19 crisis, the increase in prices on designer merchandise is not isolated to Chanel. Handbags from brands such as Hermes and Bottega Veneta have also increased since the start of the pandemic.
With Chanel handbags increasing in value, the key takeaway is to sell now while the bags are in high demand and consign with us for the best profit on your investment.