Chanel's quilted 2.55 bag is one of the most coveted handbags of all time. First created in the 1920s by Coco Chanel, the bag's design was cleverly designed, as it allowed the user to hang the strap over their arm, freeing up their hands.

blog.php-23 Chanel classic Double-flap medium bag

Coco's 2.55 bag has its roots in the designer's humble beginnings. At the age of twelve, Coco was sent to an orphanage. It was here that she spied how the nuns would wear their keys on chains. It was these chains that inspired the design iconic chain attached to the 2.55.

blog.php-17 Chanel 2.55 Single-flap evening bag

blog.php-18 Chanel black & white drill perforated leather flap shoulder bag, 2000-02

blog.php-19 Golden sand satin single flap CC turn lock bag, early 1990s

And since the 1920s, not much has changed. When Karl Lagerfeld took the helm at Chanel in 1983, he introduced the interlocking "CC" clasps and other details including the leather threading the chain.

To mark its 50th anniversary, Lagerfeld commissioned for the 1955 2.55 to be reissued.

blog.php-20 Chanel 'choco bar' shoulder bag

blog.php-21 Chanel dark brown diamond quilted front pocket CC turn lock hand/shoulder bag, 1997-99

blog.php-22 Chanel Melrose tote bag with CC pendant

Since his takeover, Lagerfeld has breathed an exciting new life into the Chanel bag. The inspiration for the highly desirable Boy Chanel bag, released in 2012, was Coco Chanel's relationship with Arthur Edward "Boy" Chapel, a British polo player.

blog.php-14 Chanel quilted medium Boy Bag - 2016

blog.php-13 Chanel Flower Power Boy Bag - 2015

Image: lntimidation Image: lntimidation

Lego bricks, milk cartons, shopping baskets: Lagerfeld's new designs have a reputation for being daring and exciting, whilst the classic 2.55 remains a solid investment piece.

All bags featured are currently at in Catawiki's exclusive fashion auction ending on September 10. To bid, register here now. Check out the full catalog here.