"European Chanel experts" tell Madison Avenue Spy that the price of classic style Chanel bags just went up 20 percent on the Continent. A price hike on Chanel purses is rumored to occur here on August 1. In 2008, the Reissue bag that now costs $3,600 cost only (only!) $2,850. Come August 1, the price could go up to $4,100. Madison Avenue Spy notes, "Remember, price hikes are always rumored and your stockpile of Chanel bags will not sustain you during a nuclear explosion." Ha!