I’ve been wearing a £205 lipstick for a week. Is it really worth it?

So did I feel expensive wearing a £205 lipstick? The easy answer is yes. Chanel 31 Le Rouge is weighty to the touch, smells of money (well, gardenia, but you know what I mean) and looks like the type of product your cool graphic designer boyfriend would appreciate.

But is it worth it? That’s harder to answer. Remove the rose-tinted glasses and £140 is slightly obscene for just a lipstick case, no matter how beautifully crafted, especially in the cost of living crisis. I also have to admit that the refills (£65 each) are unnecessarily costly, given they are twice as expensive as that of a regular Chanel lipstick refill.

That said, however, there’s no denying that the psychology of luxury will make Chanel 31 Le Rouge catnip for die-hard beauty and fashion fans. The fact that each shade captures a moment in Coco Chanel’s life means it could even be considered a purse-friendly second best to the iconic tweed jacket, where every stitch speaks to the heritage of the House.

But maybe there’s also something more meaningful at play here. At the launch, a fellow beauty editor took a long time swatching each shade until she’d found the perfect one. When I asked her about it, she explained that this lipstick is so special, she’s going to save it for her wedding day and then hand it down to her future daughter or daughter-in-law on her special day.

Perhaps this is a more practical way to look at the Chanel 31 Le Rouge lipsticks – as a purchase to mark a milestone or a special occasion rather than something that’s going to loll around on the bottom of your everyday makeup bag.

I remember when my great aunt died she left me her beautiful powder and rouge compacts. All were in pristine condition, the metal intricately embossed with art deco designs, and refillable in an age when soothing your eco conscience wasn’t even a consideration. With magpie keenness, I was desperate to play with them as a child and remember the care she would take pulling the compact out of her handbag for a delicate midday top up.

Maybe Chanel 31 Le Rouge is the chic, modern-day equivalent of those compacts – an heirloom beauty product that stands the test of time.

For more from Fiona Embleton, GLAMOUR’s Acting Associate Beauty Director, follow her on @fiembleton.