forget buying an apartment, a chanel bag is a smarter investment
There are few places where your money is safer than a Chanel 2.55 bag.
Image via Chanel
If we've learnt one thing this year, it's that there is nothing fickle about putting your money into fashion. Previously we investigated how to invest in clothes and in January it was revealed that a mythical Birkin bag is worth its weight in gold. Now there is a new ultra smart buy- Chanel's classic 2.55 bag.
Also known as the flap bag, retailing for around US$4,900 it will take a bite out of your paycheque. But over the past six years it's estimated to have increased in value by over 70 percent, so you'll probably eventually be dining out on it.
BagHunter tracked the bag's rise to glory, and it's pretty impressive. Since it was released in 1955 the design has increased in value every year. When it first came out it would set you back $220, by the 90s it was $1,150. Even taking inflation into account that price increase is amazing. To put the 70 percent into context, over the same period (2010 to 2016) US housing prices increased 8.1 percent and the S&P 500 by 13.2 percent. Literally making your handbag a better place to keep your cash than your apartment.
If the 2.55 isn't your style don't worry, you won't be left out. The pattern of value growth is pretty uniform across all Chanel bags. In fact 2012's Boy Bag is predicted to be the next big investment piece.
Baghunter CEO Evelyn Fox explains that this rise in value is reflective of the growth of the global luxury marketplace. Basically, although pricey, these bags are no longer only treats for the very rich and famous, average consumers are choosing to spend on these items. As interest grows, so does the market.
One word of advice though: if you do part with thousands for one of these babies, you might want to keep it somewhere safe. These estimations aren't taking into account you carrying it around the club every Saturday night or spilling a compact in it.
Text Wendy Syfret
Image via Chanel