Back in June 2020, I posted the price of Chanel Handbags in KL and around the world. At that time, a Chanel Classic Double Flap Handbag cost RM28,620.
Click here to read the article and see the prices of Chanel Handbag in 2020.
After I posted the article above in June 2020, I bought 2 Small Chanel Coco Handle Handbags in July 2020 for about RM16K each. One for my wife and the other for my youngest daughter as a 4 in 1 present – her Graduation Gift in advance and 3 Birthdays (2019, 2020 and in advance for 2021) Gift. And I told you the reason why I bought the Small Chanel Coco Handle for my youngest daughter in advance was simply because the price of Chanel bags just keep increasing and increasing!
Click here to read about the Coco Handle handbags.
Well, it has been 3 years since I posted the said first article above and the price of the Chanel Classic Double Flap Handbag is now RM44,870. That’s an increase of RM16,250 or 56.77%!!!
The above image shows that the price of the Chanel Classic Double Flap Handbag is RM44,870 in June 2023.
So is the price of Chanel Handbags cheaper in KL or elsewhere? I will now show you why you should get a Chanel Handbag now in KL before the price increases again later this year and in subsequent years.
Price of Chanel Classic Handbag in Australia
Chanel Classic Double Flap Handbag – Price in Australia RM48,214 based on Google 6th June 2023. Which means it is RM3,344 more in Australia. However you can get tax refund at the airport. So effectively the price is about the same in Malaysia. But one thing is for sure, when you buy a Chanel Handbag in KL, you are guaranteed that your new handbag won’t be taxed by Customs when you return to KL from overseas!
Price of Chanel Classic Handbag in Europe
Chanel Classic Double Flap Handbag – Price in Europe is RM47,730 based on Google 6th June 2023. Which means it is RM2,860 more in Europe but once again we can get tax refund. However, even with the tax refund, the difference will be negligible since the bag is so freaking expensive! And also, you are not guaranteed that you won’t be taxed at KLIA when you return from overseas. If you were to get the Classic Double Flap in KL, taxes have been included and you do not need to worry about any additional taxes!
Price of Chanel Classic Handbag in Hong Kong
According to Google conversion rate, the Chanel Classic Double Flap Handbag will cost RM46,118 in Hong Kong. So it would be smarter of you to get the handbag in KL 🙂
Price of Chanel Classic Handbag in Japan
The price of the Chanel Double Flap Classic is RM49,182.
Price of Chanel Classic Handbag in Singapore
It is even worst in Singapore where the price is RM49,772 or almost RM5K more than KL!!!
Price of Chanel Classic Handbag in London
We can no longer get tax refund in London so there is no point to get the Chanel Classic Double Flap in London for RM48,774 based on Google conversion rate as of 6th June 2023.
Price of Chanel Classic Handbag in USA
The price of the Chanel Classic Double Flap is RM46,996 in USA or just slightly above RM2K compared to KL but you won’t get tax refund if you were to purchase anything in USA.
So, from the above, KL would be the best place to get the Chanel Classic Double Flap Handbag because it is cheaper and you are guaranteed not to be taxed compared to the possibility of Customs taxing you at KLIA!!!
Another thing, you can easily get the Chanel Classic Double Flap Handbag in black caviar with gold hardware in KL. All you need to do is go on the wait list. However, this is not the case for other “classic” black caviar especially the Coco Handle, Wallet on Chain, vanity case, wallets and card holders; therefore if you see these anywhere overseas just buy it. What I mean by “classic” is the same bags will be offered over and over again and the strap must be the standard strap (leather and metal). Best you avoid bags which are one off design with just metal chain regardless of the colour.
And why Black Caviar? Well, it is easier to maintain compared to lamb skin. The only lamb skin Chanel you should get is the Mini Flap Handbag because it seldom or maybe never comes in black caviar.
HOWEVER, I am now going to show you where you can get the Chanel Classic Double Flap for less compared to KL……. all you need to do is fly to Bangkok!
Haha, the Chanel Double Flap is RM924 cheaper (based on Google conversion on 6th June 2023). However, if you are unlucky or maybe stupidly put the new bag in the box, if you are taxed, you will end up paying more than the price in KL!!!
So why is Chanel Classic Double Flap Handbag or even other bags cheaper in KL?
The reason is because our Ringgit has depreciated tremendously! See the chart for Singapore and if you do not get it, then you better go educate yourself.
Seriously, if you ask me, Chanel handbags are still affordable for those earning AUD or SGD or USD. Say you are working in Singapore and are earning SGD5K a month, the Chanel Double Flap is about 3 months of your salary. However, if you are earning RM5K per month, the Chanel Classic Double Flap is 9 months of your salary!
Or looking at another angle, the Median Singaporean Household Income is above $10K, which means 40% of households earn more than RM30K per month! See chart below:
On the other hand, in Malaysia, the T20 (top 20%) are classified as those whose HOUSEHOLD income are more than RM10K which means the Chanel Double Flap Handbag is like 4 months of a HOUSEHOLD income! Seriously, RM10K is about USD2K!!! I tell you many of those who are in the T20 in Malaysia will be classified as in poverty in USA if they have 4 persons or more in a household!!! Google if you do not believe me.
Oh….. I better get back to the topic of Chanel handbags…….
Chanel has been increasing the price of their handbags at least twice a year since 2020. Now with Chanel increasing their prices COUPLED with the weakening Ringgit, the price of Chanel Handbags will increase much more compared to other countries. However, if our Ringgit strengthens, then Chanel products will be cheaper for those of us who own Ringgit; but based on historical data, you tell me lah in the long run will our Ringgit strengthen? Just look at the chart above for Thai Baht and Sing Dollar versus MYR.
Bros & Sis, if you think this article is about Chanel Handbags, you are only half correct. This article is also about our Ringgit!
Anyway, coming back to the 2 Small Coco handle handbags that I bought in 2020, today both will cost close or more than RM50K if I were to get them new at a Chanel Boutique.
Below are two Chanel bags for smartphones and nothing else, each of them cost about RM16K!
And the joke about the above Chanel handbags is – it is not durable, well it can’t last forever unlike physical gold bar, but can disintegrate with time since it is organic (i.e. leather). Good for the environment lah, hahaha.
Chanel handbags is purely for the ladies to “shiok sendiri” and nothing else.
And since I love my wife so much and I can’t take my money to the grave and worst still, my children may burn their inheritance without thanking me when I am 6 ft underground, I just bought a Chanel Classic Double Flap handbag.
You see, the way I figure it, if the Chanel Double Flap can bring sparks of joy to my wife’s life for the next 20 years, the cost of the handbag per day only works out to be RM6.15 per day which is cheaper than the cost of my fags which cost me triple or when I am in Australia a pack of 20 cigarettes cost me about RM100!!! Yeah it is pure burning money away with fags!!!
My wife was given the option to chose which bag she wanted, photo below. One looks shinier than the other – guess which one my wife chose?
And the SA even gave her the option to get a pouch in Beige Caviar and of course my wife got it as it is hard to come by 🙂
‘Conclusion
As I mentioned earlier, it has been 3 years since I posted the said first article above and the price of the Chanel Classic Double Flap Handbag is now RM44,870. That’s an increase of RM16,250 or 56.77%!!! So, if our Ringgit depreciate further coupled with Chanel increasing the prices of their bags, what you think the price of a Chanel Classic Double Flap Handbag will cost in another 3 years time…. fast forward in 10 years time?
But like I said, Chanel bags are non-durable and can disintegrate with time…. it is purely for “shiok sendiri” sensations and definitely not a good method to preserve your wealth.
GenX GenY GenZ 