It’s funny to think back to when my admiration (and now deep obsession) for handbags really took flight. It was during my first year of college, where I dreamed of making enough money to one day buy a Chanel or Prada. I wasn’t sure what exact bag I’d purchase, but it was a nice fantasy to escape the weekly exams and study sessions.
As the months went by, I got more familiar with styles and brands and I started to understand the significance of classics. I had just started interning for a local luxury magazine (where many of the women I worked for all carried unbelievably gorgeous purses). But at that point, I was barely making any money. So I settled for the most realistic option: I’d save up for a Louis Vuitton Neverfull. All I’d need to do is put away $100 each month, and in a little over a year I’d reach my goal. My justification was it would be virtually impossible to not get my money’s worth. I fantasized about how it was practical enough to wear during school and work, and stylish enough to take out on the weekends.
In the end, I never got the Neverfull. I couldn’t get over the rampant logo all over the bag—but that’s another story. (I guess that’s what happens when you have too much time to think about a bag.) Something else I began to realize was that it would make more sense to save up for the real bag of my dreams: The Chanel Classic Flap Bag. I had read all about how timeless it is and how well it holds its value. I don’t remember exactly how much it was at the time, but it definitely wasn’t what it is today. So on I went with saving money for a few years…
But ever since November, when Chanel introduced yet another price increase on many of its timeless classics, including the Flap Bag, it really made me wonder whether or not purchasing it is still worth it. (I was actually planning to buy it last year before the crazy hike!)
[sc_ic_ad1]I always thought I’d go for the medium size, which today retails for $5,600. That’s almost a six percent increase from last year’s $5,300. Most savings plans don’t even increase that much in a single year! If that wasn’t bad enough, the bag cost just under $3,000 in 2010. Ugh, the good old days.
When Megs reported the price increase a few months ago, she touched on the outrage and frustration from consumers—including many of our loyal forum members—who can’t quite understand why prices continue to rise so quickly and sharply, and more importantly, why the quality doesn’t match with the price increase. But as she pointed out, no matter how much people complain, it doesn’t seem to change Chanel’s thinking. And demand doesn’t seem to be slowing…
So now what? Truth is, I’ve saved the amount needed to purchase my first Chanel, even with the increase. Yet I just can’t wrap my head around spending more than $5,000 on a bag, let alone one that’s slightly small and not always the most practical or durable. But then I think about some of the other classics out there—the Birkin being one of the biggest—which cost a small fortune, too. There’s always the option of purchasing a pre-loved Chanel, but the ones in great condition are pretty pricey as well.
What would you do? Would you buy the Flap Bag for its reputation and increasing value? Or do you think the brand has gone too far?
Personally I think the brand has gone too far. I was recently on a shopping trip in NYC and thought about buying myself a vintage Chanel or maybe a new spring collection one. I bought a small WOC type bag because I thought it was gorgeous and $2550 is a good deal. I slept on it and realized that I am getting stuck in exclusivity and their insane price increases – sure the bag was beautiful, but it wasn’t every day. I went to return it literally less than 24 hours later and they just got in the Spring Collection in Soho. There was a stunning light dove grey top handle flap for $3600. It could fit stuff! I was sure I was keeping this one – had champagne at the store, got a spending money fever – everything. Slept on it too and couldn’t get over how precious it would have to be treated at the $4k after tax amount even though it was caviar leather. I also felt the quality wasn’t the same as on the vintage bags I had seen. As a result, less than 24 hours later I returned that bag. Instead, I went to LV and got a gorgeous empreiente leather bag which I truly feel looks like the cost, isn’t too delicate, and I can actually fit stuff in. Unless the deals are crazy good at Heathrow, I don’t think I will ever own Chanel at this rate even though I think it is a beautiful classic. Sadface 🙁
I think it’s gone too far. I did however buy a Boy bag for $5000 and looking back I think I WAS crazy. If I could go back I wouldn’t have bought it. And I don’t think if I were to sell if that I could get back anywhere close to $5000. For me I do use it, but it’s not an everyday bag. It’s a bag for the weekends and special occasions. It’s not a bag I would ever carry to work. Would I ever spend that kind of money on a bag again? Nope. Unless I hit the lotto, then I’ll get the Birkin of my dreams LOL.
I agree…many of the premier designers have gone too far with price increases and questionable quality, meaning there is just even greater profits to them at our expense. It seems only 2-3 years ago a Bal City was about $2000 Cdn and now it’s $3000! LV, Chanel, Hermes, etc. – I used to dream of having a “forever classic” like this, and may still do it if I can buy a good quality vintage piece for a reasonable price. But paying full price just to line some rich European family’s pockets…nope! For now I’ll continue to shop indy and contemporary designers.
I think pre-loved is best, as far as Chanel, Hermès and so on are concerned. I had to Opportunity to compare the quality from before and nowadays and it is true the quality used to be better. It is less expensive and better quality so for practical reasons I think it is best. Moreover, for ethical reasons, pre-loved really makes sense, especially when you know that brands like Chanel prefer to burn bags that were not sold instead of selling them for a lower price.
Would you know that what year the quality started to deteriorate for Chanel? Mid-2000s?
Chanel stopped gold-plating their hardware in 2008, so for that reason I’d look for a bag before then.
I Don’t know the year exactly but I’ll ask someone I think could tell us about it. I’ll try to let you know. For what I’ve heard it’s been a slow but steady process.
That’s the thing about buying second-hand: if you find a bag in good condition despite the years and the use, well you know it’s durable and of good quality ! Besides, you worry less about using or damaging it.
Any chance you’ll be going to Europe anytime soon? I ask because the cost of Chanel bags in Europe (while still excessive) is much more palatable than the cost in the US. When factoring in the VAT refund, the bags are often about 20% cheaper than they would be here in the States. I happen to be going there for work next month, so I’m going to take that opportunity to buy a new bag.
While I’ve previously purchased all of my Chanels new (within the last few years), I don’t think I can stomach plopping down that amount of money anymore in the US. When the caviar mini will run you almost $4,000 (when you factor in taxes), it really is quite ridiculous. There are some great consignment options that will allow you to save 1,000 or even 2,000 if you don’t mind your bag being pre-owned.
I purchased my first Chanel Jumbo in Europe last year. I made a video on the savings($) you get on VAT refund. If anyone is interested here’s a link: https://www.youtube.com/watch?v=S9RTxRFSZH0
I think most Chanel bags are beautiful, but the prices are just crazy for the quality. Also, each of the classics is a bit flawed… the WOC is too small and the chain is too long. I’m sorry but $800 for a SLG is the biggest suckers game out there. The mini is super
Cute, and holds a lot for its size, but again the chain is really long. The lambskin is beautiful, but delicate, and caviar is certainly better, but it looks plastically.
I think the medium or the jumbo priced around 3k, would be worth it for the classic style, but in NYC with taxes it’s almost 7k… it’s just insane. I bought a vintage Chanel single flap from Christie’s, and the lambskin and gold plated hardware is gorgeous the new bags just don’t have the same feeling.
Do you mind sharing how much your vintage was? I’m on the hunt for vintage lambskin with gold plated hardware!
Also check out The Real Real..that’s where I got both my Chanels ,for about the same price as Elm. they have a lot of stock right now.
I haven’t had the best experience with TRR in the past. I find their descriptions to be vague, a lot of their more expensive stuff is Final Sale and their pictures aren’t very accurate. I am stalking a bunch of vintage Chanels on Fashionphile though! I’ve had a much better experience buying from them.
Good to know!
Hi! My winning bid was $1700 excellent condition. With auction fees and taxes I came under 2k. Keep an eye on Christie’s bag auctions. I couldn’t have been happier with the quality.
Awesome – thanks for the tip! 🙂
I bought my first ever Chanel (medium double flap, black caviar with gold hardware) back in 2013 and I paid about $4800 after tax. I thought it was insane when I was doing it too, but it was for my 30th birthday and I had had been saving for YEARS.
I think that $4800 mark is my max. For my birthday this year I purchased pre-loved a Chanel Reissue 226 size for about that same price and it’s in excellent condition and came with EVERYTHING (box, authenticity card, dust bag).
I still love Chanel but for their handbags I think I’m going to stick to the pre-loved market. I just can’t bring myself to pull the trigger on a Chanel over $5k. On top of that they don’t even plate their hardware with 24k gold anymore which makes the price increase even harder to swallow.
Next on my Chanel wishlist is a vintage a black lambskin with gold plated hardware (undecided on style/size. Since I have a medium I’m thinking either smaller or bigger) but I am searching for one at a decent price and in great condition. But I agree, these price spikes are so frustrating.
It’s funny that they’re increasing prices yet hounding resale websites. Duh. Cause and effect. Simple. It’s gonna be worse the more they keep increasing their prices.
I’ve spent a lot on bags over the years, and I’ve made the conscious decision to NOT purchase the flap bag. The price, IMO, is outrageous.
I thought that I just had to have the Classic Flap until I saw it in person. I realized that it looked little, old lady-ish. Not my style at all. I ended up going on the secondhand market to get a Chanel that was more of my style. Now, I want a Reissue. That I will also buy secondhand. The only way that I would buy a new one is if money were no object. The prices are outrageous.
I had the same experience with Reissue. It was my dream bag, but when I used it I didn’t like it. Just like you described. I look old with it and not that practical to use. I gave it to my mom. She said I can get it back when I reach her age.
I agree with the other posts. The classic flap looks old ladyish. I bought a Boy a few years ago in Hong Kong. It was $4700 tax free while in the USA it was $5300 plus tax. It suits my style more than the classic flap but I won’t be buying a second.
Boy bag is much better. Classic flap is overrated and overpriced. Better off holding out and getting a Birkin or Kelly.
Totally agree, the classic flap is too saturated that everyone has it… to me the boy is the modern classic.
I prefer Boy bag because the chains are lighter. The chains of classic one do dig in when wearing on your shoulder.
Buy it and get over it.
Spending $5,000 of your hard-earned money on a bag that has been seen on a thousand other people? Hmmmm
Buy a more affordable bag or buy 2nd hand. Then use the savings for something more important or a vacation.
I have a Chanel Jumbo and my heart flutters every time I touch it or wear it. I love it, and it bring me so much joy. Buy it or not, it’s your money, but if you love it, you love it, and sometimes its worth spending money on that. We spend tens of thousands, sometimes hundreds of thousands on a tiny rock (i.e. diamond), it seems completely unreasonable but people do it because they love it.
Don’t do it.
I bought my first Chanel bag (medium lambskin classic flap, shw) in Paris in 2010, the spring before my 21st birthday – I think it was about €2700 then?? I was lucky enough to accumulate a collection of ~15 Chanel bags over the next few years, in a range of styles.
I have to admit, though I own several Hermes bags as well, my jumbo classic flaps are still some of my most favourite bags, and make my heart skip a beat every time I look at them. BUT they are just not worth it at today’s prices – I bought my “last” Chanel in 2017 (£5500!), and I really don’t see myself ever buying another with the current trend of increasing prices and declining quality – they’ve even capped the warranty period at 5 years now, which is bizarre.
I feel like classic flaps are becoming more and more common and ubiquitous, and like someone else pointed out, almost every size is flawed – the medium is too small and the chain is too short, the jumbo is INCREDIBLY heavy… I get that you’ve dreamed about this bag your whole life, but I truly believe there are better options out there now!
May I ask what your favourite size classic flap is? The medium or the jumbo? I hate that people are talking badly about the jumbo now (I don’t mean you as I agree with you that the jumbo can be really heavy at times LOL) in terms of it being outdated due to smaller sizes being in style in recent years. Same with the birkin 35. Someone recently asked me did you buy your birkin 7 years ago or so because everyone wears smaller sizes birkin bags now. I felt slightly insulted (I know it’s silly and that I shouldn’t and just wear what I have and love ) I mean these bags cost more than enough and I still see the birkin 35 as the classic size for birkins. Sorry for the long rant but just wondering how you feel about sizes being in and out of style after a couple of years and the jumbo vs medium chanel classic flap (which one is your favourite) :-).
I wouldn’t. The pricing has gone WAY overboard and the quality seems to have more and more issues. You can do so much better with that amount of money.
My husband surprised me with the flap for our wedding anniversary in 2009. I think it was $2800. I keep telling him we should have invested in Chanel instead of 401k plans. My retirement plan hasn’t doubled in the last 9 years. 😉
I own 2 Chanel flaps one in caviar and one in lambskin. My husband bought me the lambskin for $3600 6 years ago (?) and the caviar only weeks before the latest price hike. I’ve read all of the reviews stating to “not buy the Chanel flap”, but I don’t know. Personally, I love them and don’t see them as “old lady bags”, but beautiful and classic. Also, prior to purchasing a bag I spend a lot of time going over the pros and cons since I’ve had my moments of impulsivity only to return them. After a period of time if I really feel that I can’t live without it and I can justify the price I will purchase it. I believe that everyone knows what they want to do and only you know what is best for you.
I had the same dilemma recently. I purchased my boy bag in August of last year. Sometimes I regret it cause I could’ve have waited but at the time I was extremely impulsive and purchased it. I’m happy with my bag and hope to buy more throughout the years. My advice if you don’t have a double of what the bag costs in your savings don’t buy it. My bag was 4700 + tax= 5029.
You could invest half that amount on an iconic bag that’s not so ubiquitous like a goyard, Gabriela Hearst, Celine or LV. Take the rest and save. You could almost put a down payment on a small property at the rate you save…..
I prefer the 2.55 reissue to the classic flap. I have one bag from years ago, which I love, but I have no desire to shop at Chanel anymore. A Chanel bag in the shape of a hula hoop, a life saver, a gas can, or a grocery basket does not make a lot of sense unless you’re Carrie Bradshaw. Even the classic bags are often times so overdone with embellishments that they look tacky.
My Chanel is not the first bag I grab when I go out. It’s uncomfortable (always falls off my shoulder, too big to carry as a clutch, chain digs in when I attempt to carry it as a crossbody) but…it’s a Chanel jumbo 2.55 and I will cherish it always. I feel like if you don’t have one you’ll always crave it and if you do have one, you’ll understand it’s limitations. It is my “going out to dinner bag” where it can rest happily on a hook I keep in it’s pocket to hang on the table as she would never sit on the floor!
I can’t imagine dropping $5K on a brand new medium flap and I don’t have the money for it either… which doesn’t make me the ideal Chanel customer. I did purchase a WOC in 2017 right before the price increase but I ended up selling it several months later because it was not a practical bag for my lifestyle. At this point in time, I am only interested in buying pre-loved vintage bags. I think the brand has gone too far with their pricing and especially if they are not going to increase quality control standards; however, that’s the beauty of Chanel. It’s their business and they can sell for a hefty price if they want to.
You don’t seem to be too enthralled with the Chanel Classic Flap so why buy it? I definitely think you have to take a few things into consideration before purchasing a luxury handbag: cost/wear, your own lifestyle, functionality, price in general. Yes, the Classic Flap is gorgeous. But, FOR ME it would not be a smart purchase even though I would LOVE to win one in a giveaway, or be gifted one. It would never ever be a smart decision to purchase a Chanel handbag with my current economic/financial status. I have different needs for my handbags, so I would prefer to get 3-5 luxury bags for the same cost as one Chanel. That way I could get a smaller crossbody, a tote, a larger bag, etc. Others may not feel the same and would be able to use one bag for all occasions. For lifestyle, I like in Nebraska and no one here is walking around with Chanel bags! It would just seem so out of place. My rent is $500 LOL. For functionality, I do think the Classic Flap would be functional and practical for me, because it would hold everything I need on a day-to-day basis. However the price is OUTRAGEOUS. I am just not in a financial position to spend $5000+ on a handbag. What happens if it gets ruined or stolen? Or I drop it in the snow? I would need to have $20K saved in the bank and a reliable car before I ever spent that amount on a bag. And even then, I could go back to college! Again, Chanel bags would be out of place where I live and could potentially put a Target on my back. I’m definitely not judging, I absolutely LOVE luxury handbags, but for now, I have to love from afar!
I have two classic flap bags-one caviar and one lambskin. Bought them over 8 years ago. I cannot tell you the last time I even took one of them out of the box. I’d never pay five grand for a bag! I’d have a heart attack on the spot!
I think one should buy bags that are made of good quality material and are affordable one of my favorites are cross shoulder bags.
Great article/discussion! I have been contemplating on getting a classic m/l flap for my upcoming birthday, but I’ve been going back and forth with the thought because I do own several chanel items (WOC,Trendy CC, mini) and other than the WOC i really don’t use any of the other items because they are too delicate. They are all in lambskin too because I love the texture so much. I think it will definitely be a smarter decision to buy from other fashion houses with a lower price point, because I can also use them without worries.
So I’ve been thinking about this again. I say go for it. The price is only going to increase and you’ve wanted it forever – just do it! Then if you decide you want more Chanels down the line, go the pre-love route.
I feel the market has been too saturated with Chanel, so while they continue to increase their prices, the glut of bags out there brings the value down. Chanel knows this, & are barreling towards a crossroads. Karl L. is in his 80’s. How much longer will he be the sole designer at Chanel, & what will happen once he’s gone?
Personally, I would not pay 5k for a bag I see everywhere, with a limited warranty, & reduced quality. At that price, you need a return on your investment, like you’d get with Hermès or exotics. I get the feeling, you aren’t a millionaire with money to burn. So, you need maximum return on your investment.
If your heart won’t settle without a Chanel, then I agree with countless others. Buy a pre-loved! The quality will be so much better, & your search of finding the perfect bag for you will be very satisfying. You’ll be happy, & so will your bank account.
Agree. The price hike was Chanel’s desperate attempt to crank up its value again because there are just too many out there. And like any economic bubble, this so called “investment opportunity” will burst, overly priced stocks will crash eventually. This is not what you want to be involved in. There is so much you can do with that amount of money you saved.
Don’t do it. You get the least value for money whether it’s quality, design, or exclusiveness.
People who keep saying that they’re a great investment are bonkers… the time to get on that bandwagon was years ago, and again it only happened because chanel was literally price gouging their customers.
I’ve owned different size of the classic flaps before (like you, grew up with a dream to own one) and none of them ever worked out. Sold all of them and got my money back, fortunately, as this was before the market got saturated.
My friend who has a Boy and I think it’s ugly. She’s trying to get rid of it too but can’t get it off her hands even thought it’s in good condition and she’s taking a loss.
If you’re want to save, save for hermes. Or realise that there are plenty of other brands with better leather quality and design at better price points. And customer service
Once you started saving and learned the value of money, you realized that it is not worth it. That is the beauty of saving and working towards a goal. Reaching your target piggy bank amount is an accomplishment in itself and you no longer need to fill the void with some bag you do not care for. I used to own one, it is not for function, purely just a symbol, a statement piece. I sold mine and donated parts of that money. Getting rid of it felt really good.
People complain they work so hard but do not have any money. This material culture is one of the biggest root cause.
First, you should buy what you love. However, the Louis Vuitton Speedy, Classic Flap Chanel, and Hermes Birkin are some of the all time classics. I had always wanted a classic flap and wasn’t satisfied until I bought one. I love my black maxi jumbo, followed by a beige jumbo, and just completed the collection with bubble gum pink jumbo. I agree at times they can be a bit stuffy, but I love the way I feel when I’m carrying one. I think that over time it will hold or increase in value. Chanel, based on the feedback below, may be a little stale at the moment, but its appeal will return as we see with Louis Vuitton, Gucci, and other classic brands. Again, buy what you love and nothing else will matter.
I’m right there with you!! I’ve been thinking about purchased a classic flap as well, but I can’t fathom spending that much money on a bag and then feel comfortable actually wearing it. I’m actually leaning more towards the Chanel WOC style, because it holds it’s value well, is versatile, and the price point is lower while still getting a taste of Chanel.
I have the Chanel vintage jumbo XL bag and a few others, including a metallic boy, but I still think about and want a black jumbo classic flap with silver hardware. In 2010, I almost bought it for $2900, but stopped myself. I just didn’t want to pay that much money back then. But now that the bag keeps appreciating, I feel really silly and unfortunately I still want the bag. Nowadays, I’d prefer to buy it pre-owned, specifically from a Japanese seller because their bags are usually in impeccable condition and I want an older bag because it’s better quality than the new bags today.
this is my experience regarding an designer hand bag. i have few LV, couple of Chanel bags, couple of Gucci bags and few others. if you are a working person who is not afraid of using it .. More then occasionally abusing it .. LV is the Bag. i was in Hong Kong airport Chanel store to buy a Bag about month ago but decide to walk away. anyone who think Chanel is investment, only if you treat it like treasure that only get to see light of day few times year. Unless money is not a question !!
I bought two pre-owned Chanels last year.. a Surpique small tote in burgundy and a vintage small scarlet single Flap. I love the vintage Flap. It has the gold plated hardware, which they don’t use now and it’s in fantastic condition. It was a bit under $1800 and the Surpique was on sale for $640.
I’ve seen the newer Chanels and though they are pretty, a good vintage just looks and feels like better quality to me. You’ll never get a serious deal on a pre-owned Boy bag though..I have yet to see one under $3000.
Let me add here that these kinds of purchases would not have been possible when I was younger, and Chanel would have been a bit too conservative for my taste then. It’s only in my older years that the bag and I finally compliment each other, and that I have the funds to spend a stupid amount of money on a designer bag.
For what it’s worth, I think the recent price increases are absurd and greedy. Let’s face it the prices have always been exorbitant, but this takes it too far.
For me, it has gone pass the limit that I want to spend, but then again, I already got almost all the colors of classic flaps and reissues since 2011-2012 so I’ve retired myself from the classic flaps and reissue. I still buy seasonal pieces and lately, Gabrielle (gulp!) from time to time. But nothing exceed that price range. I have a limit and my comfort zone which I can’t get over with.