Dating back to February of 1955, the Chanel Classic Flap Bag, has grown in notoriety and fame.

According to Wikipedia, “In the 1920s, Coco Chanel became tired of having to carry her handbags in her arms and decided to design a handbag that freed up her hands. Inspired by the straps found on soldiers’ bags she added thin straps and introduced the resulting design to the market in 1929. After her successful comeback to the fashion industry in 1954, Chanel decided to update her handbag. The resulting design was called 2.55 after the date of creation, February 1955.”

Whether you’re a your a West Coast Celeb, a Southern Socialite or a Upper East Side Ivy League Graduate, Chanel has a place in your closet and on your arm. Ladies who lunch philanthropic crowd wear the bag as a badge of honor the way a Dot Com Exec would style it, showing she has arrived. If you prefer the mini in pink or the Maxi in black, Chanel ups your cool factor without being trendy. You are immediately included in a special girls club limited to only those who can pay to play.

With the varying sizes, shapes and colors, women from age 18 to 100, from the upper East Side to Downtown will find a Classic Flap that fits their specific style. Many designers have been inspired by the chain strap, quilted leather exterior and refined flap. But the original Chanel Flap has remained the top style and design. Why buy the inspiration when you can purchase a vintage version for a similar price? To many longtime collectors dismay, Chanel has regularly increased its prices to the point their bags tend to hold their value better than any other bag in the market place including the coveted wait listed Hermes Birkin or Kelly.

Although most plan to pass it to their daughters as an heirloom, if you buy one preowned and carry it with care, you can more than likely sell it to recoup most of your investment.

Additional details according to Wikipedia,

The lining’s burgundy color represents the color of the Nuns’ uniforms at the convent where she grew up.
There is a zippered compartment at the inside of the front flap. That is where Chanel is rumored to have stored her love letters in her original bag.
The backside has a back outside flap for storage of money.
Chanel, recognizing modern women needed to have their hands free while attending social functions, designed a double-chain shoulder straps. The chains were attached by leather-threaded chain inserted though eyelets.The caretakers of the convent where she grew up held the keys at their waist dangling from the same type of chains as the 2.55 shoulder strap chains.
The bag originally came with a front lock called “the Mademoiselle Lock” (in reference to Coco Chanel never marrying). Since the 1980s, versions can also be supplied with a lock in the shape of a double CC logo. These are called “Classic Flaps”.
The bag has a quilted diamond or herringbone pattern on the exterior. Using a running stitch, this gives the bag shape and volume. The pattern is believed to have been inspired by several sources: by jockeys’ riding coats, by the stained-glass windows of the abbey at Aubazine, as well as by the cushions in Chanel’s Paris apartment.[4]