[May Berthelot (@maymaryb), is wearing a Zara blue bombers jacket featuring a flower and a bird, Topshop blue jeans, H&M sandals, a Cartier Pasha watch, Sarah Lavoine sunglasses, and a Chanel gray bag, during a street style session, on July 27, 2016 in Paris, France. (Photo by Edward Berthelot/Getty Images)]
Ten years ago, a brand new classic Chanel flap bag cost $1,600; today it sells for nearly four times that at $6,300. It’s a key example of why the Canadian luxury resale market has seen major growth in the past decade.
“For some people it’s a good investment,” explains Alice Goldbloom, founder of Montreal-based online luxury handbag reseller Love That Bag. “Someone who would have bought a bag ten years ago at Chanel is selling it for more than what they paid.”
Currently, that same bag is going for $3,990 on the site, which Goldbloom launched four years ago after noticing the growth of resellers south of the border.
“When I started I literally had no competition,” says Goldbloom.Read More »from The luxury resale market is booming in Canada