Through a detailed analysis of the luxury resale market, Collector Square, a reputable luxury resale website, has revealed the changes in value of iconic Hermès handbags. Their study focuses on determining which model has experienced the highest increase in value in the second-hand market. To conduct this research, Collector Square relies on the LuxePrice-index, an index compiled from a representative sample of 300,000 sales conducted by renowned auction houses over a span of ten years.
One of the most timeless and sought-after pieces from the Hermès fashion house is the Birkin. Created in 1984 after a meeting between Jean Louis Dumas and Jane Birkin, the Birkin is available in various sizes, materials, and colors. In terms of auction sales, the Birkin represents 20% of all Hermès bags sold by volume and a staggering 52% in terms of value. The 35cm size of the Birkin is the most popular among buyers. Between 2006 and 2016, the Birkin’s price tripled, with an average selling price of €8,153 for the leather models (excluding crocodile). Despite the increasing availability of Birkin bags in the resale market, the prices of rare and exclusive models, such as those featuring unique colors and exotic leathers, often exceed the prices of new Birkin bags. The rarity of certain Birkin models contributes to their higher price tags.
Another iconic Hermès handbag is the Kelly, which first emerged in the 1930s and gained popularity in the mid-1950s after Grace Kelly was photographed with one. The Kelly comes in ten different sizes and over fifty colors. In terms of auction sales, the Kelly represents 24% of all Hermès bags sold by volume and 30% in terms of value. Over the course of 11 years, the average price of the Kelly bag increased sixfold in the second-hand market, reaching an average of €5,870 in 2016 (excluding crocodile). While the rarest colors and collector’s editions of the Kelly bag are highly sought after, it is interesting to note that the brand’s gray-taupe models in the classic leather version have consistently fetched the highest prices in the past three years, with an average of €8,802.
The Constance, a small square-shaped handbag adorned with the H buckle, was created by Hermès in 1969. Despite representing only 3% of the volume of Hermès bags sold second-hand, the Constance has experienced a significant comeback. Its average selling price has multiplied by ten since 2006. Between 2006 and 2009, the Constance could be resold for less than €1,000, but prices have steadily risen since then, especially after Hermès introduced high-quality Constance models in 2012.
If you are interested in learning more about the luxury market and the second-hand industry, Collector Square offers a White Paper that provides further insights and information on the subject.
Useful links:
– To explore Collector Square’s White Paper on luxury and the second-hand market, click here.
– For more information on the LuxePrice-index and the methodology behind Collector Square’s analysis, click here.
