Plus, score classic bags including Chanel and Louis Vuitton in auctions starting at $1 on Whatnot

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Are you ready to learn PurseBop’s New Handbag Math? Don’t get nervous – put your numerophobia (yes, that’s a thing) aside. You can master this, just as you manage and excel at PurseBop’s original and hallmark Handbag Math. That’s where we calculate the dollars (or euros, yen, shekels etc) saved by shopping abroad – whether due to lower prices, currency exchange valuations, VAT refunds, or a combination of any or all. And sometimes the numbers work in your favor and other times you’re just better off purchasing at home.

Image courtesy: @xofashionica

New Handbag Math looks at luxury handbag buying in reverse, essentially a focus on old pricing in comparison to current retail price tags. What if you had purchased that Chanel Flap, Hermès Birkin, Louis Vuitton Neverfull, or Lady Dior, ten years ago when you first wanted it, before massive (or small) price increases? Let’s face it, retail prices for luxury designer bags only go in one direction – up, up, up. It’s only a matter of how much and how fast.

Image courtesy: @xofashionica

With New Handbag Math, we look at examples of what you would have paid ten (or more) years ago for these highly coveted purses as compared to their value now. It certainly raises the question whether if the object of your desire will surely cost you more tomorrow, why not buy it today, assuming you have the cash and the store has the stock. Indeed, it is possible that once you see how prices have skyrocketed, you just might experience what we’ll call “non-buyer’s remorse” – but keep reading to find out how you can score some classic pieces in auctions starting at $1!

Chanel Medium Classic Flap

At some point, for most luxury lovers, the Chanel Classic Flap catches your eye, if not your heart. All these decades after Coco Chanel’s successor Karl Lagerfeld redesigned her 2.55 bag (aka Reissue), the Chanel Flap has been one of the most popular luxury handbags on the market. Always a sought-after top seller, it is panache, style, history, and function all rolled into one very stylish and practical handbag. With its quilted leather, leather-enlaced chain strap, and double CC lock closure, it’s hard to land a complaint . . . other than stratospheric price increases.

Image courtesy: FashioNica

Consider the medium-size double flap leather bag. This is the size and version that Chanel in recent years termed “iconic.” It currently retails for $10,200 (though rumors of another imminent increase persist). In isolation that number may hit you as exorbitant. When you look back at pricing ten and thirty years ago, it is even more shocking.

Image courtesy: FashioNica

Back in 1993, the Chanel Classic Flap retailed for $1150, or about one-tenth of the current price. Spending $1150 in 1990 is comparable to about $2689 in buying power in 2023.

In 2013, the Classic Flap cost $4400, or 43% of the current price. Whatever you may think about inflation over the decade, that does not explain the spike.

So, with PurseBop’s New Handbag Math – you would have paid $5800 LESS if you’d purchased in 2013. From the purchasing power perspective, using an inflation calculator, that $4400 in 2013 is equivalent to purchasing power today of about $5858. Or less than half of the actual price today!

If you’re feeling sad about that “missed” opportunity, we have some welcome news. On September 26th, you’ll have the chance to buy a black medium Classic Chanel Flap in the coveted caviar leather with gold hardware at the 2013 price. Yes, we’ll be dropping one on Whatnot for $4400!

Get classic investment pieces from Whatnot on Sept. 26, with auctions starting at $1

Whatnot is the largest independent coolest live-streaming shopping platform in the U.S. Not only do viewers get the opportunity to obtain beautiful handbags, they get to connect and chat with other fashion enthusiasts and collectors. This Tuesday, Sept 26 at 8pm ET, Whatnot and host Fashionica will be having an Investment Bags show featuring 20+ pieces that have held their value over time, including Chanel, Hermes, Dior, Louis Vuitton, Gucci, YSL, and more. Come learn more about each of these bags and why they’ve remained so popular.

In addition to the drops above, five Chanel and Louis Vuitton bags will be auctioned starting at $1. We will then throw it back to 2012 and one lucky buyer will get to purchase a medium caviar Classic Chanel Flap Bag for just $4400.

To join the show:

Sign up for a Whatnot account here.
Bookmark the Pursebop Presents: Investment Bags show here.
Watch the live show on Tuesday, September 26 at 8pm ET! Make sure you have notifications enabled on your phone so you don’t miss the show!

What other Investment Bags will be featured?

Louis Vuitton Neverfull

Introduced to the Louis Vuitton handbag lineup in 2007, the Neverfull was a near instantaneous hit. Originally fabricated in the classic Monogram canvas, the bag debuted in three sizes (PM, MM, and GM), at prices ranging between $575 to $655. In the 16 or so years since its arrival, the number of variations on the Neverfull theme has exploded, as the price has more than tripled for canvas models. Those Monogram (or Damier) canvas models now retail as follows: $1960 for the PM, $2030 for the MM, and $2100 for the GM. As you can see, price variations between the sizes remain relatively small – $70-80 for each jump in size.

Image courtesy: FashioNica

Interestingly, the bigger price spikes occurred at two distinct times. In 2014, Louis Vuitton added an interior pochette to the model, and raised prices accordingly, by about 35-40%. Then during and after the pandemic, Louis Vuitton repeatedly effected price hikes, taking the Neverfull up another 50% or so.

Looking at this through New PurseBop Math, in absolute dollars the GM Neverfull retails for $1445 more now than when introduced. When factoring in inflation, $655 spent back in 2007 is equivalent to about $970 now. What’s more, Neverfulls are increasingly difficult to get in stores, with Louis Vuitton recently introducing a waiting list.

The Neverfull will be part of the $1 auction on Whatnot.

Hermès Birkin and Kelly

The iconic Birkin was inspired by Jane Birkin and debuted in the mid 1980s. A relatively simple and elegant two-handled tote with a top that closes (even if most of us keep it open), the Birkin exists on wishlists of fashionistas worldwide. With cult-status, and plot lines in movies and television, and now a range of sizes, it’s hard to imagine a time when the Birkin will be out of style.

Image courtesy: FashioNica

Upon its debut in 1984, the original price tag for the B35 was about $2000. The retail cost rose to about $2750 in the 1990s and to $4000 by 2000. Today that same bag will set you back $12,700 if you’re lucky enough to snag one at the boutique. Resale prices are usually double that or more. Put another way, the bag is at least more than three times as expensive today than it was 23 years ago.

In terms of purchasing power, that 2000 price of $4000 is equivalent to about $7100 today. We’ll let you judge whether waiting 23 years is worth it or not.

Image courtesy: FashioNica

The Birkin isn’t Hermès’ only hard-to-get holy grail style. There’s the Kelly – ultimately named in honor of Princess (and actress) Grace Kelly – which actually predated the Birkin by about three decades. There are two versions of the Kelly – the more structured Sellier and the more relaxed Retourne. Both take longer for Hermès artisans to create than the Birkin, with the Sellier requiring extra time. Not surprisingly, then, Sellier Kellys tend to retail at higher prices.

Image courtesy: FashioNica

Let’s examine the Kelly 28 Sellier in leather. In the 1990s, this bag sold at Hermès boutiques for about $3500. Of course, like now, it was difficult to obtain, many fewer were made, and arguably fewer people could (or would) afford that back then. Now, the same bag in Epsom leather retails for $11,800, (with resale prices also often going for double that or more). It’s almost 3.5 times more expensive. Buying in 1995 would have saved you about $8300. Adjusted for inflation, that $3500 in 1995 is equivalent to $7050 now – so you could have spent almost $4800 less.

Image courtesy: FashioNica

There will be multiple Birkins and a Sellier style Kelly available in the Whatnot show, along with 20+ other classic handbags that have held their value. End your non-buyer’s remorse and join the show Sept 26th at 8pm ET!

Read related articles:

US Hermès Price Increase 2023 – Here are the New Prices

New Confirmed Hermès Prices in Europe 2023

New Hermès Colors 2023

The Pricing History of the Louis Vuitton Neverfull

Breaking News: Chanel Price Increases are Happening Now Internationally

The Surprising Original Price of Favorite Chanel Items in Your Closet

Chanel Resale Prices Have Skyrocketed: An Investigative Report

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