Should I Sell Some of My Chanel Bags to Fund My New Hermès Journey?

Question:

I have a Chanel Collection of over 23 bags, 10 of them are classic double flaps, mostly small and medium sizes collected over these last three years and the rest of the models are Chanel 19 and vintage ones. I haven’t jumped on the Hermes bandwagon yet but am thinking of starting on Hermes journey for some time already. Should I sell some of my Chanel bags to fund the Hermes journey? If so, which ones should I start to sell off? Do you also think the Chanel classic flap prices will continue to rise in the future? Coz if these prices were to continue to climb, I definitely may not be able to buy them back again. Thank you and hope to hear from you.

Dear How To Fund My Hermès Journey:

There are many things to consider when curating the perfect handbag collection. Some believe 10 bags is the perfect number and to acquire a new one means you should re-home an existing bag. Read: Why One In and One Out. And No More Than 10 Bags

Others believe curating the perfect collection of handbags requires an honest analysis of your collection, determining your goals, and deciding why you may want to re-home a bag or two. Read: Curating Your Collection Part 1: To Let Go or Not to Let Go

You have collected a large amount of Chanel bags in a very short period of time. Whether you should re-home any of your Chanel bags to fund your Hermès journey is a very personal question that can only be answered by you. Both Chanel and Hermès bags are very costly, command a premium on the resale market, and often maintain their initial investment (and more) if kept in excellent condition.

We have many articles on this subject that we urge you to read. Then our suggestion is to assess your collection as objectively as possible and consider these questions.

Do you love all 23 of your Chanel handbags equally?

Are there any you find you no longer (or never) reach for?

Do any of the handbags hold sentimental value for you?

Do you still love the size, color, leather, or hardware of each Chanel bag or has your style, wardrobe and/or lifestyle changed?

Do you need to re-home your existing bags to fund your Hermès journey? Or is there another way you could afford to shop in Hermès while maintaining your present collection?

Finally, ask yourself if there is any possibility you may regret re-homing one of your bags in the future. If you have any doubts, remember the motto: Doubt Means Don’t. It may be best to wait until a time you are absolutely sure you want to sell one or more of your existing bags so you do not have any regrets in the future.

History has taught us that prices in the luxury market increase at least once a year (Hermès), and sometimes several times a year (Chanel). We expect this trend to continue in the future for all luxury goods including handbags. Good luck with your journey.