Investing in Chanel Handbags to Combat Inflation?
10 years ago, I purchased a Chanel black caviar medium classic double flap for $1600 on EBay. Now, that same bag, is valued at a cool $6500 on the same marketplace. Outside of the stock market, I have never made such a good investment.
I kick myself for all of the Chanel handbags I have sold over the years. I would have undoubtedly made many thousands of dollars if I had just held onto those pieces.
Unlike my investment portfolio as of recent, my collection of Chanel bags have only increased in value.
Get this. Chanel increased its prices THREE times last year and SIX times since early 2020! When they do this, the resale market naturally hikes up their prices as well.
Now there is a rumor that prices will again hike sometime in early July 2022.
Do you think Chanel can keep up with price hikes when their classic flap is nearing the price of a Hermes Constance flap, which undoubtedly is higher quality?
Only time will tell.