Chanel handbags are often cited as being part of the exclusive “holy trinity” of luxury handbag brands, along with Louis Vuitton and Hermès. These three brands consistently maintain very high percentages of their original value, with Chanel bags holding at 63% according to Clair – the Comprehensive Luxury Appraisal Index for Resale. In the most recent Clair Report, the resale value of the Chanel Classic Double Flap bag appreciated as much as 111% following an increase in Chanel’s retail prices. Chanel bags’ demand in the resale market makes it easy to get cash for a Chanel handbag without selling it, in the form of a collateral loan.
Another reason that Chanel handbags are widely used as loan collateral is that they are widely owned. With sale prices for most new Chanel bags under $5000 at major retailers including Neiman Marcus and Bloomingdales, they have become an affordable luxury for millions of women worldwide. Used Chanel handbags such as the Chanel Double Flap Bag, Chanel CC Charm Shoulder Bag, Chanel Chevron Chic Shopping Tote, and Chanel Urban Spirit Backpack among many are popular items in the luxury handbag resale market, helping to sustain the desirability and value of the Chanel brand.
Chanel handbags are consistently among the most popular luxury assets used to obtain collateral loans. Collateral loans are a reliable, fast, and easy way to access cash with no credit check, credit history, or financial disclosures. For example, Chanel handbag owners, collectors, and retailers can obtain loans of up to 75% of the current resale value of their handbag or handbags from collateral lenders such as Borro in only a few days. “Despite the fact that they are widely available and enjoy a broad ownership, Chanel handbags ability to retain their retail value is second only to Hermès in the marketplace today,” said Borro’s chief underwriter, Richard Shultz, GG (GIA). “We are always pleased to see Chanel bags used as collateral for our loans because we know we can offer the high valuations that provide our clients with the cash they need to manage situations or meet opportunities.”
Chanel handbag owners, collectors, and retailers can obtain standard loans or line of credit loans from Borro, in amounts ranging from $2500 to over $5,000,000. Borro empowers clients to capitalize on the true value of their Chanel handbag or handbags without the wait, and, more importantly, without the need to sell. Borro provides exceptional security, care, and handling of luxury assets during transport, valuation, and storage. Assets are insured from when they are shipped, during storage in its vaults, and until they are returned after a loan is paid off. It uses advanced protocols for asset handling and tracking, with vaults that are among the most secure available anywhere. Borro does business across the United States and is licensed and regulated by the laws of Colorado and New York.
Borro’s in-house specialists have a combined 80+ years of experience with luxury assets. They are experts in this field with deep auction house relationships and a strong network of appraisers, traders, and dealers giving individuals peace of mind that they can trust Borro with their Chanel handbags. Borro also accepts other luxury handbags as loan collateral, including Louis Vuitton, Birkin, Hermès, Dior, Yves Saint Laurent/YSL, Prada, Chanel, Gucci, Givenchy, Goyard, Céline, and more.
Borro is the leading national provider of collateral loans, having provided $450,000,000 in loans to over 15,000 investors, entrepreneurs, small business owners, and others. Borro unlocks the equity in a wide range of luxury assets that are high in value but low in liquidity and execute transactions from thousands to millions of dollars in as little as one business day. For more information or to apply for a collateral loan, please visit https://borro.com/assets-we-accept/designer-handbags
