Born in 1883, the second of six children born to parents Eugenie and Albert Chanel, the now legendary Coco Chanel was actually given the birth name Gabrielle Bonheur Chanel. With both parents absent at the official registration of her birth, her mother was ill and her father was travelling, a clerical error was made and so her legal surname was in fact Chasnel!

Gabrielle’s stark and humble early years were not a reflection of the glamour and luxury that was to come in her later years. When Gabrielle was just 11 years old her mother died at the age of 32 and her father felt he was unable to care for his remaining 5 children alone.

He then made the decision it would be best to send his two sons to work as farm labourers and his three daughters to the Abbey of Aubazine, in Corrèze, which was also run as an orphanage. It was there Gabrielle first learned to sew.

At age 18, Gabrielle moved to a town called Moulins, it was here that she sought employment as a seamstress. When not working, she performed in a cabaret which was regularly frequented by officers of the cavalry. She had her singing debut at a café-concert in a Moulins pavilion known as “La Rotonde” It was here she acquired the name “Coco” and so alas, Coco Chanel was born!

At age 23, although her youthful appearance and physical charms had impressed many, her voice had failed to do the same and so it was at this point Coco decided a career as a performer was perhaps not for her and so resumed her work as a seamstress. Round about this time, she became mistress to an ex-cavalry officer who was heir to a textile fortune by the name of Étienne Balsan. Balsan’s wealth and lavish lifestyle introduced Coco to a world of luxury she could once only have dreamed of. Coco soon began an affair with one of Balsan’s best friends, a gentleman by the name of Captain Arthur Edward, aka “Boy Capel” A wealthy member of the English upper class, he installed her in a Paris apartment and it was he who financed her first shops.

It was sometime in 1929 that Coco designed her first ever handbag but like most handbags of it’s time it was hand-held and she found it to be cumbersome. After some more years had passed, much deliberation and adjustments, in 1955 (hence the moniker 2.55) she debuted the now infamous shoulder bag which we know now as the Chanel classic “Flap Bag” changing handbag fashion and history forever.

The Chanel classic “Flap Bag” is without doubt one of the most significant accessories in the history of fashion and we have been lucky enough to have one in our most recent auction.

On the 25^th of June 2023, we were delighted to introduce a Chanel Classic to our rostrum. The Chanel medium double flap bag finished in a Fuchsia Pink leather complimented with gold hardware sold for £6200 including fees. This lot was accompanied by all you could need to instil confidence when bidding at auction starting off with it’s original authenticity card which allowed our team to confirm the manufacturing date of 2017 as well as it’s original Chanel box, bag and duster.

Today people are investing in things beyond the known traditional assets, can we all agree handbags are one of them?

Chanel is one of a handful of brands that can be looked at as an investment as their pieces are more than likely going to increase in value over time. With their pristine pieces increasing between 10-20% every year. This has caused a storm throughout the secondary market allowing auction houses to achieve hammer prices closer to their original retail price and in some cases exceeding them.

In the last 10 years alone prices have skyrocketed by almost 83%. To put that into context, the value of coins has increased by an average of 21%, first-edition books by 42% and watches, the presumed “King” of fashionable investments by a mere 72%.

Since COVID-19 the Rolex market has taken over with many of their pieces having a huge increase in value. One of the countless examples is model 116508 their all-gold Cosmograph Daytona with Green Dial known as the ‘John Mayer’. This piece has been described as an excellent investment due to its 100% increase in price since 2010.

Here at Lanes & Co our team are here to ensure you are making the best decision for you, when both buying or selling. If you are looking to off load or take onboard an investment pieces please contact the team today to arrange your free in house or online consultation with one of our specialists.