Hermès Mini Kelly: Modern Must-Have
Learn more about the most popular Hermès Mini Bag, the Mini Kelly 20.
History of the Hermès Mini Kelly
The earliest known Hermès Kelly Mini dates from 1957 and was produced with a mid-length shoulder strap. The iconic round top-handle that has led collectors to dub it a bracelet handle wasn’t seen until 1980. It would be another ten years before Hermes would introduce the Mini Kelly 20 in Retourne construction, a model that is exceedingly rare today. Hermès discontinued the Mini Kelly in 2009, although examples after 2004 are extremely rare. In response to the growing demand for mini bags, Hermès introduced the Mini Kelly 20 II. The new version was redesigned with a top-handle and depth that were both reduced. Mini Hermès Kelly bags never came with locks, keys or clochettes, though shoulder straps have been seen on the models since their inception.
Vintage Sellier Mini Kelly: The Original Mini Kelly
Surprisingly, the original Hermès Mini Kelly was not much of a hit during its debut era. Though beloved by fashion-forward icons like Elizabeth Taylor – who had three in her collection – the Mini Kelly was generally too small for most women, especially in a time when big bags reigned supreme. Generally considered a novelty, the Mini Kelly could easily be purchased for under $10,000 in leather, and exotic versions did not command much more. That is, up until 2018, when the new Hermès Mini Kelly 20 II first came to auction. Since then, values for the rare and highly collectible vintage Mini Kelly I bags have increased in recent years to keep pace with their new mini version. While there are far fewer original Mini Kelly bags at auction, they remain popular with some collectors. Since vintage Mini Kelly bags are extremely rare in excellent or pristine condition and remain popular at auction with leather bags generally selling for around $15,000 to $20,000 and crocodile bags selling for around $25,000 to $30,000.
The most expensive Mini Kelly sold at Sotheby's was a vintage 1997 Crocodile Rose Bonbon Mini Kelly. It sold for a record $156,000 in the Art of Collecting Handbags, The Visionary Collection of Joseph Lau.
Hermès Mini Kelly 20 II: A Modern Must-Have
In 2016 Hermès released a new version of the Mini Kelly 20 with a slightly updated design. The original Mini Kelly 20 is slightly larger in terms of height and depth with a strap that is also shorter than the new version released in 2016. The Mini Kelly 20 II retails for $10,000 in Epsom leather and about $37,000 in shiny alligator. On the secondary market, the leather Mini Kelly 20 II sells more about 3x the retail price or $30,000 if the bag is in pristine condition. While the leather Mini Kelly 20 II remains the most popular, Hermès offers a full range of Mini Kelly bags in exotic materials, limited edition variations and the ability to customize a bag.
Leather Hermès Mini Kelly
The most popular Hermès Mini Kelly 20 II bags are in epsom leather. These bags in store fresh condition sell for about $30,000 on Buy Now and from $25,000-$30,000 at auction depending on the color, condition and date stamp. The newest Hermès colors in pastels or classic Hermès neutrals often sell at the highest price, while brighter colors like Red, Green or Pink often sell at lower prices. HSS Mini Kelly bags in multiple colors are often most popular in neutral combinations or pale pastel colors mixed with neutrals versus bright colors. There are significantly more Hermès collectors seeking neutral and pastel colored Mini Kelly bags in leather than the bright colors. This color preference by collectors is consistent for most Hermès bags by most collectors.
Exotic Hermès Mini Kelly
Hermès Mini Kelly 20 II are available in all exotic materials including lizard, ostrich and alligator. Hermès also recently started making a Touch Version of the Mini Kelly that has a leather body and handle and sangles made from exotic material. The most desirable exotic Mini Kelly 20 II is Alligator and prices are comparable for both Matte and Shiny Alligator. The Gris Perle and Kraft Matte Alligator Mini Kelly sold for just over $196,000 in 2022 remains the most expensive Mini Kelly sold by Sotheby's to date without diamonds. As the availability of Alligator Mini Kelly 20 II bags has increased the prices have settled much closer to the retail price of $35,000 to $37,000. While a store fresh or pristine condition Alligator Mini Kelly 20 II still sells for a premium to retail, in general it is less than 2x the boutique price.
Diamond Hermès Mini Kelly
In 2023, Sotheby's sold Hermès Mini Kelly in Black Shiny Crocodile with Diamonds for about $215,000. Hermès Diamond bags are the ultimate collector bag since so few are made and even fewer come to the secondary market. Sotheby's sold more diamond bags in 2023 versus 2022 but the overall number of Hermès diamond bags remains incredibly small. These very special bags appeal to collectors that already have a number of exotic bags in their collection and want to add even rarer bags to their collection.
Limited Edition Mini Kelly Variations
Hermès has created a number of Limited Edition Mini Kelly 20 II bags since launching the newest version in 2016. The Mini Kelly Picnic was the first Limited Edition and remains a popular Mini Kelly variation with collectors. The Mini Kelly Picnic generally sells from $50,000 to $60,000 at auction with new colors often selling for above $60,000 within 12 months of the color being released by Hermès. The newest Limited Edition bags include the Studded Mini Kelly and the Mini Kelly Teddy have been selling around $45,000 to $60,000. As Hermès creates new Limited Edition Mini Kelly versions, prices for older Limited Edition bags tends to drift lower unless a new color is released for a Limited Edition bag.
Hermès Mini Kelly Price
Prices for leather Mini Kelly 20 II at auction have remained pretty stable since early 2021 at around $30,000. Top performing leather Mini Kelly 20 II bags at auction tend to be Nata or Craie color or new Hermès pastel colors. The most expensive leather Mini Kelly sold at auction in 2024 was a Craie colored Mini Kelly in Epsom leather with Permabrass Hardware for 45,600 CHF. While more leather Mini Kelly bags sold under $30,000 in 2024 versus 2021 and 2022, the number of bags sold at auction has also grown. Prices on Sotheby's marketplace have remained pretty stable at around $30,000 for pristine Mini Kelly 20 II bags with recent date stamps. Looking ahead to 2025, we anticipate prices for Mini Kelly bags in new Hermès pastel colors to sell at a premium compared to older bright colors while neutral colors should remain stable near $30,000 at auction and marketplace. Prices for Limited Editions Mini Kelly bags tend to fall quickly from the initial peak reached when the bags first come to the secondary market and can drift lower as most dedicated collectors focus on the newest Limited Edition.
Buying and Selling a Kelly Bag at Sotheby's
Sotheby's always has a curated selection of Hermès Kelly bags available for immediate shipping. Sotheby's also sells Hermès Kelly bags at auction in New York, Paris, Zurich and Hong Kong. Expect to find rare and collectible Kelly bags including the popular Kelly doll in pristine and excellent condition. Sotheby's sells Kelly bags in the newest colors and classic neutrals in leather and exotic materials along with collectible Limited Edition Kelly bags. Prices for Kelly bags in pristine condition generally start around $20,000 and can exceed $100,000 for Himalaya and Diamond Mini Kelly bags.
- Explore upcoming handbag auctions in New York, London, Switzerland, Paris, and Hong Kong.
- Contact a Salon Associate in New York or Hong Kong to schedule an appointment.
- Speak to Handbag Specialist about selling an Hermès Kelly bag or submit your item here for valuation.
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