Investing in Chanel

[LilyTheMink]

Is this a good idea given how ridiculously the prices are rising, sometimes two rises per year.
A classic flap massively over delivers in return on price.
The idea would be to use it on special occasions and clean and keep perfect in between - and then sell it when I am 65 or so.
I'd have to sell this idea to DH - we have other investments and pensions etc that dh pays into every year. He is very good with finances and is planning for future. I need to convince him to divert some money away from his normal investments or even relocate some.
Is this utter madness? I have smal pt jobs occasionally but it would take me 5 years to save for one of these on my own
...

@LilyTheMink

Dh has convinced me it's not a good plan actually. He would like to see something triple in value in 3 years to outperform our current investments. Plus he mentioned capital gains tax- I'm sure private individuals don't tell the tax man when they sell a £6k bag but apparently you are supposed to. Which would make this less good than more tax efficient 'traditional investments. Oh well!

Your husband is right.

What if you use the bag on a special occasion then so etching happens, a year in the lining, a scuff mark etc. All these little things will knock value off.

You will never sell it for a decent profit so it will never be a good investment

@Handsoffstrikesagain

Why the nastiness on this thread? There are so many different conversations going on on mumsnet, why pick holes in this one? OP clearly stated what she was thinking of investing in. As for investments tripling in 3 years, houses and land have in many areas as I have personal experience of. OP buy the bag if you want it and can afford it. Should you ever need the money you’ll always have a buyer for it x

if you can afford it being the key here. From what i understand, she can't and is asking her DH, who seems to be solely responsible for all their future financial planning, to divert money that would otherwise go into pensions and other investments. It could be a workable idea, the value of designer bags is not something I know about. But it is worrying that OPs research seems limited (she's just admitted that she wouldn't be able to tell a fake) and her answer is to come to MN AIBU for advice rather than any other specialist board on the Internet (I hope she is doing this too) But on the the basis of the information provided, I don't blame your DH from being hesitant. If I were you OP, I would do some better research...OR, get more involved in your current investments. If they are for your future too, then you should be taking responsibility for them too and not just leaving it to DH

It's not the price new, it's the resale price that matters, how much does a 20 year old second hand bag cost? People who covet these things want recent editions or proper vintage not in between

@ManifestingWisdom

Sorry, I know you weren't asking for suggestions. Just not a fan of the channel flap/or 1955. You can't fit anything in it.

I think you may mean a Chanel 2:55. They do various sizes in both styles. The medium/large (the “classic” size) and the jumbo are the most popular. They also have mini and maxi sizes. There’s so much choice of style/size/leather and leather colour. It’s why people end up with collections.

[quote Singinghollybob]@PuttingOutFires it says in the OP what she means, a classic flap.[/quote]
Classic flap? Admittedly I'm not a hand bag person and know even less about Chanel, but that is meaningless to me.

@londonrach

Are people still buying Chanel. Thought it was old fashioned and dated. I wouldn't op as you no idea if this be popular in 20 years.

😂😂😂😂

You could get these, 4 little Chanels!!

@CinnamonJellyBeans

I was quite intrigued by the thread title. "Investment" makes me think bank vaults, diamonds so big they have names, gold mines, future works of art

A bag? Is that it? Is that what we call an "investment" nowadays?

We must all be investors. I may as well call my sofa an investment.

Things are referred to as "investments" in two senses.

Sense one means buying a high cost good quality product that's timeless in its styling and which will last many times longer than a cheaper or more fashionable equivalent. So in that sense your sofa (if it's well made and not puce and turquoise striped velvet), or a Coach handbag (or other mid-priced brand) might be "an investment buy".

Sense two is the literal sense in that you expect the value to increase over time and to be able to sell it for more than you bought it for because that's the pattern historically seen in most objects of that type. Classic styles of Chanel handbags have shown that pattern in the past, along with certain vintage cars or even specific types of Lego sets. But the past may not determine the future, just as with any investment.

I have the classic flap bag and I don’t think it makes sense to purchase it for the sole reason of investment because it’s a bag - it’s meant to be worn! It seems pointless to have it and lock it away somewhere to hold its value. If you are going to buy one get the caviar leather - I went against advice and got the calves’ leather because I think it looks younger but it does scratch a lot easier so you need to think about that.

YABU to post about this on MN though because you were always going to get a lot of v negative comments on here about buying such a high ticket , frivolous item

This thread is incredibly confusing. There is no context- Chanel what? Perfume? Tunnel??

Yeah. I thought I'd suddenly fallen into another world. Even moreso when first responses seemed to know what's going on. Glad you happened along.

If you love it, will use it, and can afford it: go for it.

To buy purely as an investment seems risky to say the least. I know people have made money investing in Chanel bags but the future of such things looks uncertain especially the timescales you're talking about. We're in a time where historical power and privilege are being reexamined, statues are being toppled, BLM is gaining traction. Gabrielle Chanel's Nazi connections are well known and may well come in for more high profile scrutiny in the near future. It may be that "Chanel" will become a dirty word for future generations who won't want to be seen with one of the bags. In addition to the issue of animal skins as pp have mentioned.

Disclaimer: Yes I could be talking bollocks but it's just an alternative view to "yes of course they'll always be desirable and covetable and go up in value"

I think in regard to animal skins, Chanel will move with the times. They no longer use fur, for example. But it will take a while

(In fact I got one of the last Boy bags to be made with fur trimmings and I love it which is so cruelly dville of me )

www.google.com.au/amp/s/www.couriermail.com.au/business/citybeat/di-fitzpatrick-selling-pink-diamonds-estimated-to-be-worth-4m-to-8m/news-story/9fe746b276a6e7032a45fa1db684e633%3famp

A small fortune accidentally made in diamonds.

When people are saying 10/20 year old bag is now worth twice what i paid ect ect ...

''Worth'' it to who? Are they actually selling? How many people are rushing onto websites to spend 12k on a second hand bag? Genuine Q. How do you know?

My dear dad was a great one for keeping stuff because ''it will be worth money in the future''. I mean a whole mix of stuff. Old tools, old ornaments, old house fittings ... took up LOADS of room in his loft/shed/garage/houses. Ddad passed away and DM religiously keeping it all for years because ''It's Worth Money!''. While it all sits and rots away.

Years on she let us do a valuation of some of the best of this amazing valuable stuff. The antique oriental plate (with the bad staple repair across the middle). Worth ''hundreds'' - nope. £20. The old guns. The Chair. The Other Chair. The 'French Glass'' Bowls. Yep - 99% of it so far is too worthless to even put in auction unless in a massive job lot which DM refuses to do! Still insists it's all worth money ...

Sorry - that turned into a rant!

Don’t bother asking mumsnet about this kind of thing, come and join the purseforum if you want to chat bags and Chanel without the typical mumsnet snarky replies

Ludicrous OP. 6k could be much more reliably invested in other things.

Who knows whether people will even care about Chanel in 20 years.

If I saw anyone with one of these bags I'd assume it was a fake tbh. I suspect I'm not the only one.

@londonrach

Are people still buying Chanel. Thought it was old fashioned and dated. I wouldn't op as you no idea if this be popular in 20 years.

That's true - what if they go the same way as Burberry? A shareholder might air offensive views or do something dreadful. Anything could happen and it feels like too much of a risk.

It is absolutely going the same way as Burberry and Louis Vuitton.

Can you please explain why you think this @TatianaBis? Do you have sales statistics to back this up?
Chanel has a completely different business model to Burberry. Chanel have a select and closely guarded number of ateliers that create their products in very limited quantities, rather than the huge Burberry factories like the one in Castleford that have factory shops and mass produce.
Therefore you’ll never see the saturation of anything Chanel like there was with the Burberry check that became passé.

@MummyJ12

Absolutely correct - you can’t buy chanel bags or purses etc online it’s a completely different model

@MrsCardone

I don't think leather will even be a thing in 20/30 years time. There are so many non-leather alternative fabrics being invented and people are eating less and less meat, so there won't be as much available animal skin. Hermes are working on a non-animal leather for bags, so I'm sure Chanel won't be far behind.

Invest in diamonds. They never lose their value.

This would actually make it go up in value …

I don’t think that’s true @UsedUpUsername - fur hasn’t gone up in value for example, you can get it in charity shops.

Stella McCartney has vegan ‘leather’ bags already btw (as well as smaller vegetarian brands obviously, but as a mainstream/high fashion example).

@TuftyMarmoset

I don’t think that’s true *@UsedUpUsername* - fur hasn’t gone up in value for example, you can get it in charity shops.

Stella McCartney has vegan ‘leather’ bags already btw (as well as smaller vegetarian brands obviously, but as a mainstream/high fashion example).

I have vegan leather bags (Matt and Nat). It does not compare to the real thing, unfortunately.

Also, fur comes from cute mammals whilst leather comes from an animal regularly eaten by the vast majority of people. I really don’t think leather is going to go out of fashion anytime soon.

Oh, and meat consumption hasn’t gone down at all (beef is pretty steady) so don’t know why the PP had that impression: www.technologyreview.com/2021/04/26/1023636/sustainable-meat-livestock-production-climate-change/amp/

Plus, classic Chanel only goes up in value. It’s actually a pretty solid investment as handbags go. (I know I’d ruin it though so I stick with old-fashioned stocks and get cheaper bags)

YABU Chanel test on animals, do u want fund that?