If anyone tries to tell you fashion is not a wise investment you now have proof it is.
According to the new study conducted by Baghunter, the Chanel Medium Classic Flap handbag has escalated in worth by more than 70 percent over the last six years.
The iconic bag, which first hit fashionista’s radars back in 1955, has seen an annual increase in value and the new research suggests that it will continue to rise, with another increase predicted later this year.
The study examined the historical value of the handbag, which retailed for US$255, by 2010, the style was valued at US$2,850 and by the end of 2015, it was worth US$4,900.
“It’s interesting to see how the value of Chanel bags has skyrocketed over the last six years, a period which coincides with the rise of ultra-luxury marketplaces for such items,” Baghunter CEO Evelyn Fox said in a statement.
“We feel that these marketplaces have played a significant role in making these bags available to a wide range of women, piquing interest in more people than ever before, and contributing to Chanel having the ability to increase the value of their bags so rapidly over such a short period of time.”
Other design’s by the French fashion house including the Chanel Reissue 2.55 and the Chanel Boy Bag have also seen similar growth.
There you have it - time to get investing!