I was recently told that owning a Chanel bag is not too different from the 100k saving challenge. Apparently, people will ask you at what age you achieved those milestones.
To set the context for this post a little better, there was some pressure on me to purchase a Chanel bag recently to commemorate our 10th ROM Anniversary. Some friends who knew that the Mrs has been eyeing a Chanel medium class flap had been badgering me to give in.
The object of desire……
And obviously, I did not. Here’s why:
The Bag Owns You, Not The Other Way Round
Once upon a time…
A JC senior got married in her mid-twenties and I was invited to her pretty atas wedding banquet.
I arrived early and sat beside this lady. We began making small talk and had a pretty good conversation going on.
Just as the banquet was starting, she wanted to visit the restroom and abruptly stood up, knocking into the waiter who was serving me a pot of hot tea.
So yes, her hand got scalded and a little bit of the hot tea spilled onto her dress and handbag too.
My attention was on her hand, which was slowly turning pink but all she cared about was using tissues to dab at her bag. A few ladies around her were helping her with the dabbing too.
Only about three minutes later when the bag was ascertained to be “fine”, did she realise the burning sensation in her hand and proceeded to the washroom to rinse it with cold water.
The above is a true story and I was still a very naive undergraduate then.
My look of bewilderment was so obvious at the scene that a female acquaintance decided to enlighten me. Apparently, the bag in question was a Christian Dior piece that costs around $5k. It was also probably the first time the lady was carrying it out after spending her bonus on it.
The bag is indeed “everything”
I come from a low SES family background so that was my first brush with luxury handbags. Before that, I had assumed that expensive bags “normal people” carry were worth a few hundred dollars max.
These days, as I approach my mid-thirties, many of my peers are progressing well in their careers. Their large disposable incomes mean that spending five digits on a Chanel bag is not as ludicrous as it sounds. Whether it’s an anniversary or a push gift.
But many still cannot seem to escape from the fact that “the bag owns them”. These Chanel bags rarely see the light of the day. The worry that they might get damaged means many just take it out once a while from their cupboards to pose, take selfies and ahem, upload them on social media.
My assertion is that if you cannot afford to be largely stoical if you were to damage the product, you cannot “afford” it. And maybe you are just better off admiring the product in the shop instead of purchasing it.
That’s why I doubt I would ever own an expensive watch. But I was willing to give the Mrs a chance as she deserves some pampering, right?
So I gave her a hypothetical scenario:
It’s raining cats and dogs and you need to get out of the car with your Chanel bag.
Who gets drenched?
Much as she wanted to, the Mrs could not give the politically correct answer that I wanted.
Marginal Differences Compared To Other Luxury Brands
If I were to buy the Chanel bag for her, of course I was going to do some research. It would no doubt make a huge dent to my wallet.
So I became a “connoisseur” of handbags a few months ago, in the sense that I would pop in to those boutiques, grab a bottle of water or two, enjoy some snacks, and get introduced to handbags. The context?
“Buying a 10th Anniversary Present For The Mrs, and looking at alternatives to Chanel.” I could always observe the sudden optimism in the sales associate’s psyche when I mention this.
Seriously, it is an enjoyable way to spend a frugal afternoon in Orchard. Probably second to browsing books at Kinokuniya. But well, I digress.
I do not know if I am speaking for all men, but I really do not understand the fuss about Chanel.
Especially after having extensive first-hand browsing experiences in boutiques like Bottega, Louis Vuitton or YSL. I really thought all of them were comparable to Chanel.
But a Chanel costs easily 2-3x more.
The value buyer in me actually proposed to the Mrs the idea of buying 3 bags instead of one.
This sums up the Mrs’ reaction
Marketing Tactics Irk Me
Tactic 1: Your Wife Deserves The Upgrade
- Yes, she is so ready to move on from her current LV and Bottega.
- Last time you might not be able to afford our bag. But I am sure you are a successful man now and it’s time to “signal” it.
- 10th Anniversary is a special event. Give her the upgrade she deserves for “sticking” out with you for 10 years.
Tactic 2: You Rarely Have An Opportunity To Buy
- Sir, you are so lucky. Normally, you would not even be able to get into our boutique.
- If not for Covid-19, our bags fly off the shelves when the Chinese tourists wander in.
- Since you are so sincere, we will give you a special chance for this limited edition. New stocks are normally reserved for VIP customers only.
Tactic 3: The Longer You Delay, The More You Have To Pay
- You are a shrewd and prudent man so you must understand that a Chanel is an investment that will appreciate
- We have just increased our prices by ~20% in 2020
- Another price hike is on the way so you should really get it now. “Happy Wife, Happy Life”
I loath the product but love the company. Too bad Chanel is not listed.
And in case you are wondering, even though the Mrs did not get her Chanel, she did get a great alternative.
So much so that if she ever complains about the lack of gifts/surprises over the next few years, I was given explicit permission to bring up this bag to hush her up.
Well, of course I won’t do that, right? =p
Thank you for reading.
“I do not know if I am speaking for all men, but I really do not understand the fuss about Chanel.”
join the club bro. i have no frigging clue whats this whole chanel madness is about too. same like why they are crazy over BTS. (but thats topic for another day)
i lol reading your post. coz i have the exact moments with the Mrs too.
i dont really like to wear a watch. (ok, i have a g-shock from 10 years ago. just changed batt and strap couple years ago, and working ) but she has like 6 and counting? and i bought her another one last month for a belated v-day gift.
then theres shoes.. *roll eyes*…
curiously, i have never stepped into one of those” atas” shop. i guessing they are all the leather of some animal.. and just brand embossed, thats it?
Hi FC,
I guess it’s all just part of lifestyle inflation.
I have started purchasing some Fila and Fred Perry T-shirts, easily 2-3x the cost of Uniqlo. At McDonald’s, I have also stopped eating McChicken. The Buttermilk chicken burger is the minimum I accept these days.
Most Singaporean ladies in their mid-thirties will roll their eyes if you mention about sales at Kate Spade or Coach. Or at least, that’s how I feel.
So what was your great alternative that she’s so happy with , instead of a Chanel bag?
Hi Jason,
The Mrs bought a Celine bag that she really liked too. On 11/11 last year, MBS ran a promotion where one could get 11% cashback at selected stores. Obviously, Chanel and Hermes were not part of the promotion.
And yes, I was actually the one who alerted the Mrs to the promotion.
I had in mind Hermes LOL.
Celine is a great choice, your wife has great taste!
I got my Chanel bag from my then bf now husband. My friend was flying into Heathrow airport and got a 2.55 (heh you should know what this is now) and got me one at a good price. Glad to say that it kinda put a stop to more branded bags! Since I already had the ‘holy grail’ (short of Hermes?!), I really don’t think I needed any others. And the time, effort, cash spend on maintaining this one bag (like yes, protecting it when I am out in rain, or not bringing it out when I have the kids with me), just kinda made me realise it’s not me. I don’t want to be a mum that scolds the kids just cos they stained my expensive bag when I won’t have done so if they had spilt milk over a cheaper bag. And looking at stocks I could have got with that same money – gosh, Amazon / google – omg, I say good stocks over bags, anytime!! Anyway, it’s not only a girl thing. Think of the watches, electronics, bicycles for guys. Now when my kid talks about brands, I talk to them about how good the marketing is for these brands. End of day, it’s really the marketing. Really don’t want my kids growing up being fodder for marketing gimmicks.
Hi Mrs Spoon,
Thanks for your sharing. Very insightful!
And I am glad you are past that phase too. The Mrs also rationalised to me that instead of every year feeling the need to buy a new one, just take the pain one shot and buy a good one that can stop the itch for 3 to 5 years. Lol!
Besides marketing, it’s also about social proof too. I try to surround myself who are more likely to buy shares than Rolexes. It helps.
15HWW,
LOL!
You don’t understand what’s the fuss with Chanel because you’re not into handbags!
Just like non-gamers would not understand what’s the fuss with gaming monitors with 360Hz refresh rates too.
When we are hardcore into something we love, we’ll not settle for anything less. Wink.
But I do agree with you when it comes to who owns who when it comes to buying a product.
When I can spill coffee on a Chanel and be nonplussed. then I have earned the right to own one.
I try not to judge others. There’s a time when I’ll never settle for anything less than an Alain Mikli.
Been there; done it.
Now I’ve gotten it out of my system.
Mrs 15HWW,
I have a funny thought.
Next time 15HWW wants to buy the best of the best for his favourite passion or hobby, tell him NO.
Offer him 3 lesser alternatives instead.
See him sulk.
LOL!
Thanks! I’ve just offered him 3 Sukiyaki hotpot instead of 1 Haidilao treat. He is sulking now =P
Perhaps can do a back-of-the-envelope calculation to determine how many hours you have to work to save up (:
Hi Ingel,
Thanks for your suggestion. Since the Mrs doesn’t mind the work that she is doing now, and she is more of the “work hard, play hard” type, such a calculation would actually fuel the desire to purchase even more. In the end, it’s the fact that “the bag owns her” that is probably making her reconsider.
Interestingly, I actually understand handbags better than gadgets.
Not that I would buy either, cos both aren’t within my scope of “hobby”, but I would appreciate a Chanel over an Iphone.
It’s like eating at the hawker center at around $5.
vs eating at a budget restaurant (Saizeriya) at $15+
vs a more expensive restaurant (Lawrys) at $100+
vs omakase at a Michelin Jappy restaurant at maybe $500 per pax.
We don’t NEED to eat at any of the restaurants, we can always eat $5 meals. But yet we do want nicer food every once in a while.
Same for bags.
Heh… so I’m in the position of “allow the purchase”.
https://earlyretirementsg.weebly.com/blog/-i-once-used-to-have
Depreciating over a 3-5 year period it’s really only $100+ per month. Which is truly insignificant considering your current phase in life.
As life goes by, I seem to have become more relaxed about spending. As long as one is conscious of the purchase.
It’s not as tho Mrs15HWW is also asking for a whole string of other luxury products right?
Personally, I’ve actually taken it up as a challenge to be more ok with spending more. I mean, I’m not talking about 5x more, rather to just be more chill on the annualized spending as long as it doesn’t get out of hand.
Also, not really fair if you get to have your “toys” just cos you can see the value.
When she can’t have her “toys” just cos you can’t see the value in it.
That makes you judge, jury and executioner
😉
Wow, a Chanel over an iPhone. To be honest, I am not sure if the Mrs would make such a trade-off.
The Mrs would be quite delighted to have you on her side. To be honest, I don’t really have many “toys”, especially the more expensive ones. Unless one brings up the car, which I almost always argue that she enjoys as much as me. =p
Anyway, the fact that I wrote this post also interestingly means I am more with your line of argument. Besides the “bag owns you” factor, I still feel we cannot afford it that well yet, so got an alternative that she liked alot too for about half the price.
The irony about such posts also do not escape me. They almost always become moot a couple of years later. So one can expect the Mrs getting a Chanel sooner or later. =p
Hmm I think cos I find phones purely utilitarian, so as long as it can make calls and surf net I’m fine with any model.
And Iphones are common enough as they are so there’s no real prestige factor to them anymore. Whereas I find Chanel or Birkin would still carry a wow factor.
Well… I’d define “toys” loosely, like anything which one would indulge in which costs more than normal… like… HDL 😉
Thing is, I think it’s hard for ourselves to identify the “toys” we have decided on cos we have justified to ourselves that they are “value” items/hobbies/decisions.
Like I’ve been eating buffet twice a week telling myself that it’s a good reason to go out, I can eat one meal which will last me both lunch and dinner, the price is slightly more expensive than if I go out and eat at a restaurant, etc.
So I think buffets have become my “toy”, but yet it doesn’t feel like it is cos I’ve built so many reasons around the decision to tell myself that it’s “value”.
I am very much into FIRE.. but that the same time- I also indulge in purchases that bring me joy.
I bought my Chanel classic handbag from Hong Kong tax-free about 10 years ago for $4-5k (can’t remember exact price).
Paid for it myself as a present turning 40 years old to mark that milestone. Did not ask hubby to buy even though he would have 🙂 I also have 2 teenage girls and they are most welcome to borrow if they take good care of the bag..
Just sharing a girl’s perspective on this post 😉
Hi Lyn,
Thanks for your perspective. Enjoyed your sharing.
Interesting that the bag is still in very good condition after a decade and that your teenage daughters are inclined to carry it too!
Most people reading the post on the surface would think that I am throwing the Mrs under the bus. But from most of the responses, it seems that I am throwing myself under the bus. Well, at least, there’s always the 10th Wedding Anniversary to make things right.
Hi mr!
I enjoyed reading your post alot, and I do agree with many of your arguments.
But, if you can afford it in the sense that you won’t need to sacrifice other basic necessities, so why not if you’re wife will enjoy and treasure it?
I mean, of course the bag costs alot of your hard earned money, so you definitely want it to last. And it will, if you will love it and take good care of it.
This goes for all materialistic things like cars, watches, etc.
That doesn’t mean that the bag owns you, but rather that you treasure your money and knows the value of it, regardless how rich you are.
And on the last note, to buy a Chanel flap bag is the best investment you can do, because you get to enjoy the bag while you still can get your money bag if you decide to let it go one day in the future 🙂
Lol. Last time, during my JC days (can you believe it my goodness), I was “atas” and would clamour over such branded bags. Even saved up to buy 2 branded bags (not Chanel tho), SLGs what not and would even save to go for menu degustation etc. Well, ever since I started working and learning about financial independence, my mindset flipped 180 and killed my interest in such “luxuries” completely. I dont clamour much less think of such things now. Basically, if I have to think about the price, it means I cant afford it effortlessly. If I cant use a bag to shelter me from elements, it’s a physical and mental burden. A free unwanting mind is the ultimate luxury.
Hi Chrollo,
Wow, so “woke” from a young age. In JC, I thought “crumpler” was v branded already.
Nice blog you have there and great that you are enjoying your new place. All the best in your FIRE journey!
Yea. When I was in JC, friends I hung out with were all reading Vogue/Harpers and I was completely engulfed in the “lux” mindset. Looking back, it was very bougie and cringey haha. But no regrets, glad I got all flushed out of my system during my younger days
I held a high paying prestigious job and whatever i used was often seemed as of designer brands. I once used a very fake Chanel boy bag and my colleague praised it, saying how beautiful it looked.
While I do not enjoy purchasing designer items, I think you need to lax a bit on saving money. And the phrase ‘Happy wife, happy life’ is a legend. You two work as a team. If she wants it and it is once every five yeas, bro- i recommend you to just splurge it.
Hi JP,
Thanks for your comment!
I am already starting to relax my iron hands and will definitely consider your suggestion and recommendation.
Hi My15Ww,
On this topic, sharing my learnings. When my wife told me bags appreciate in value over time, I did not believe her back then. I was proven wrong oven the years.
Rather than just holding value, resale value for both her C & H acquisitions increased by 15-30% from original buy price, despite being used items…somehow there are always demand for such locally. Most she used for 2-3 years, kept in good condition and seems to be able to disposed easily; and made $.
Key is to buy in Europe and specific models I don’t quite understand. Mid tier wise, value does dropped significantly so she told me no point but should rather go for everyday use type like the other canvas ‘horsey’ brand.