so why doesnât Chanel care if you buy a bag in cash?
So they actually do, and there's a process for all of this.
âšWhen you walk into a Chanel boutique in NYC, choose a small classic, and want to pay $11,500 for it in cash, youâre not going to be allowed to do that without Chanel collecting your personal information (license or passport), filing an IRS Form 8300 and a report with the federal government, and sometimes even flagging your store account if you make multiple large cash purchases in a short period of time. If youâre outside of the USA, some stores wonât let you pay for anything in only cash over a certain amount, and rarely will they refund you in cash; theyâll insist you take a store credit. HermĂšs refuses cash transactions over $10,000, and Louis Vuitton flags, you can safely assume that no large retailer wants to mess with the OFAC, IRS, or do anything that puts them at risk financially. Every large retailer collects data, reports, and follows the law when it comes to large transactions, and if a customer has nothing to hide from the government, the only thing they need to worry about is the inconvenience of it all.
Cash is untraceable once it changes hands. Thatâs what the government cares about. If youâre paying cash for a purse, you are leaving with a physical item. The government canât automatically say youâre washing money if youâre purchasing a physical item and Chanel sets their prices; the customer doesnât. Thatâs why people joke about high-end art trading being a historical way of money laundering; at one point in time it was. The dealer sets the prices, and the buyer and dealer can collaborate to wash the funds.









