So, that Chanel bag you scrimped and saved to buy back in 2010? (Or dreamed of splurging on?) News flash: Its value has increased by more than 70 percent since your purchase, which makes it a better investment than real estate, according to a new study from Baghunter.
The website--which, sure, is a marketplace for secondhand luxury handbags--decided to dig deep into the evolution of the ever-classic Chanel Flap Bag. When it was first introduced in 1955, it cost $220. Sixty years later, the exact same bag will set you back $4,900. (We did the math: That’s a $4,680 increase--$3,250 of which shot up in the past 11 years. Whoa.)
Let’s compare this with the housing market. Depending on where you live, housing prices have appreciated by a mere 17 percent over the past three years. And they continue to fluctuate whereas the value of a Chanel handbag just goes up…and up.
We’re not saying you should live in a shoe and invest only in Chanel (à la Carrie Bradshaw), but maybe just take better care of the beautiful bag you carry. Only time will tell what it might be worth.