Despite some record auction sales for Birkin bags recently, prices in the secondhand market are slipping. A Birkin once owned by actress Jane Birkin went for an astounding $2.9 million at Sotheby’s this month, far exceeding its estimate of $440,000. This sale followed another auction in July, where Jane Birkin’s original bag fetched $10 million.
However, the bigger picture reveals a downward trend for most secondhand Birkin and Kelly bags. Research from Bernstein shows that the average resale price premium has dropped sharply—from 2.2 times original retail in 2022 to just 1.4 times in November. For instance, the Birkin Togo 30 now resells at its original price, a significant drop from past years.
Luxury experts suggest that rising inflation and a shaky job market are dampening demand. Fewer buyers are willing to join the bidding wars for these iconic bags. As Luca Solca, a luxury analyst at Bernstein, puts it, shoppers are transitioning from the post-COVID enthusiasm to a more cautious mindset. An increase in the number of secondhand Birkins on the market and more resellers has added to the price pressure.
Despite these challenges, the allure of Hermès remains strong. A recent report from Rebag noted that Hermès still leads the luxury handbag market, with many styles selling above their original prices. On average, Birkins are still fetching 122% of their retail price. While auction prices may be softening, demand remains high—many buyers are willing to pay a premium to avoid complications in the Hermès purchasing process.
Historical data shows that since 2015, resale prices for Birkin bags have nearly doubled, even as their auction values have leveled off recently. According to Solca, Hermès continues to hold the top spot in luxury desirability, proving that despite fluctuations in auction prices, the brand remains a symbol of status.
For further insights, you can check out reports from Bernstein and Rebag’s luxury resale trends.
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