What explains Hermès’ umpteenth record price of second hand

What explains Hermès' umpteenth record price of second hand

It was “practically unobtainable“. Its sale value smashed all expectations. But this is not an auction. No. The matter is quite different. To summarise: a Birkin Faubourg bag by Hermès fetched the record price of 158,000 euros. Where? On Vestiaire Collective, an online platform specialising in second hand. The previous record was €112,000. As it happens, it was also for a Birkin. The resale platforms thus confirm themselves as a very attractive channel for collectors, and for those who do not want to wait for the long waiting lists of the French brand’s ordinary channels. And they confirm how the Birkin remains a safe haven asset, a real investment with a guaranteed return.

Yet another Hermès record price

Vestiaire Collective reported that the average price of a Hermès bag has risen by 15% this year, compared to 2021. Which has not depressed demand in the slightest. In fact, according to the resale platform, searches for Birkin models increased by an average of 20% in 2022 compared to last year. And Hermès is only the most coveted brand, as Louis Vuitton, Dior, Prada and Gucci are also among the most desired. “Timeless or classic bags are a safe investment because they never go out of fashion and do not lose their value,” explains Sophie Hersan, co-founder of Vestiaire Collective (source: Fashion Network).

Yet another Hermès record price

The sum of 158,000 euros paid is, of course, a much higher value than the average Birkin price. The example sold, Adnkronos points out, was practically unobtainable. What happened is that Hermès produced only 50 examples in 2019. All distinguished by a unique clochette (the leather pouch that accompanies the brand’s bags) in the shape of an orange shopping bag (left in the photo). Inspired by the maison’s Parisian boutique on Rue du Faubourg Saint-Honoré, the bag combines five different types of leather and is embellished with precious handmade stitching.

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