Top 5 Things to Consider When Valuing a Birkin Bag or Hermès Kelly Bag
What you need to know about valuing a classic leather Hermès Birkin or Kelly bag.
Must Have Hermès Bags: Birkin and Kelly Bags
For decades, the Hermès Birkin bag had been considered the most desirable Hermès bag by collectors. Did you know that throughout the 1990’s and early 2000’s, the Kelly bag was universally considered less popular than the Birkin? For decades, Kelly bags were more readily available in Hermes boutiques, but the popularity they’ve experienced in recent years has brought this style on par with the Birkin. The introduction of the Mini Kelly 20 II in 2016 quickly created a frenzy with collectors. Prices for the newest Mini Kelly 20 now often exceed the most popular Birkin 25 in the secondary market. While there are many factors to consider when valuing a Birkin or Kelly bag, we wanted to focus on what to consider for the most popular leather Birkin and Kelly bags. Most Hermès collectors start with classic leather bags and even the most dedicated collectors tend to have more classic leather Birkin and Kelly bags in their collection versus limited edition or exotic bags. This guide is focused on the five most important factors to consider when valuing a classic leather Birkin or Kelly bag. The factors influencing the price of a Birkin or Kelly bag are unique to Hermès and go beyond condition or style of the bag.
1. Valuing Hermès Bags: Smaller is Better
The size of a an Hermès bag is one of the most important factors when determining the value and price. The smallest Mini Kelly 20 II and Birkin 25 are almost always the most expensive bags on the secondary market. There is an inverse relationship with retail since larger bags at Hermès are more expensive than the smaller variations. Prices in general decline as the size of the Birkin or Kelly increases if all other attributes are equal. A 2024 date stamp Birkin in Etoupe Togo leather declines in price as the size of the bag increases. This is due to greater demand for the smallest bags that are also the newest sizes from Hermès. The Mini Kelly 20 II was introduced in 2016 while the Birkin 25 was introduced in 2004.
2. Valuing Hermès Bags: Color Matters
When it comes to Hermès colors, the most valuable colors generally fall into classic neutrals and newest pastels. It's not uncommon for a leather Black, Gold, Nata (white) or other popular neutral color Birkin or Kelly bag to be top performing leather bag at auction. The newest Hermès pastel green and pink hues are also consistent top performers. Classic light pinks like Rose Sakura and 5P almost always exceed bright pink and other bright Hermès colors. In general the worst performing colors are Hermès reds, browns and bright yellow, blue, green, purple pink. HSS bags in bright color combinations also tend to under perform compared to neutral colored bags.
3. Valuing Hermès Bags: Retourne versus Sellier
In general Sellier bags sell at a higher premium than retourne. The more structured Kelly Sellier bag tends to be more popular with collectors resulting in higher prices at auction. The Birkin Sellier has been in productions since 2010, so the number of bags on the secondary market is less and the Sellier Birkins tend to have recent date stamps versus the most common Birkin Retourne. The price premium for the Sellier Birkin is likely to decline as more bags come to the secondary market.
4. Valuing Hermès Bags: What Leather is Best
Hermès is known for using the highest quality leather in the world, though the popularity of their different leather types varies widely. Togo leather is the most popular Birkin material, followed by Epsom. Epsom is the most popular leather for Kelly bags including the Mini Kelly 20 II and the larger Kelly 25 and Kelly 28. Other popular Hermès leathers include Chevre for Mini Kelly bags and Madame or Monsieur leathers for Sellier Birkins. Swift and Box leather bags tend to have fans that love these materials but generally not loved by all collectors, which impacts prices at auction. While newer leathers such as Novillo and Jonathan have started to come to the secondary market, it is unlikely these will consistently outperform Togo and Epsom leather.
5. Valuing Hermès Bags: Final Factors
The final factors that impact value are age of a bag and vintage model that is no longer in production. Two bags that are identical in model and condition, the bag with the newer date stamp will generally sell more more than the same bag with an older date stamp. Prices for vintage no longer in production Hermès bag styles can vary widely based on condition, provenance and interest in the market. The original Mini Kelly 20 I has gone and out of favor with collectors so prices and vary widely. While hardware is a key attribute for a bag, it is more of a personal preference versus value driver.
Advantages to Collecting Hermès on the Secondary Market
There are many advantages to buying Hermès bags at Sotheby's. As one of the largest and most established global luxury secondary markets, Sotheby's offers clients many unique advantages when growing an Hermès collection.
1. Access
Sotheby's is able to provide access to some of the most exceptional Hermès bags through its long established global network of sellers. Sotheby's is one of the few global luxury marketplaces that sells rare and impressive Hermès bags exceeding $100,000 in addition to classic leather Birkin and Kelly bags in store fresh condition. Our Handbag specialists are always sourcing the best Hermès bags. Sotheby's global presence also means we are sourcing a wide range of Hermès bags including timeless classics, special vintage finds and rare limited edition bags. Sotheby's also regularly sells incredible private collections that can include custom designed Hermès bags. If you are looking to build a collection of Hermès bags, Sotheby's provides access to contemporary, vintage and one of a kind rare Hermès bags.
2. Flexibility
Sotheby's provides multiple ways to purchase Hermès bags. While Sotheby's is most known for its global auctions, Sotheby's also sells Hermès online and also in salons in New York and Hong Kong. Sotheby's also offers a concierge service if you need assistance sourcing a specific Hermès bag that isn't available at auction or marketplace. Another advantage to Sotheby's is access to desirable Hermès bags that are special order and limited edition.
3. Discovery
One of the best parts of a global luxury secondary market is discovering unique pieces from decades earlier and custom designed one of a kind items. Sotheby's curated selection is always changing since Hermès is one of the top brands at Sotheby's. Each auction has a unique selection of Hermès bags that may be familiar but a slight variation, never before seen design or a vintage treasure that has been on your wishlist for some time. Browse our latest auction or curated selection to get inspiration when building a collection of both contemporary and vintage Hermès bags. You are likely to discover something new to you from Hermès.
Buying and Selling an Hermès bags at Sotheby's
Sotheby's has a curated selection of Hermès bags available to purchase online or in person in one of our global Salons. Sotheby's also sells rare and collectible Hermès bags at auction in New York, Paris, Zurich and Hong Kong. Shop the newest colors with 2024 date stamps, classic neutrals in all sizes and rare limited edition bags. Expect to find pristine Hermès bags in leather and exotic materials in a range of sizes priced between $5,000 to $100,000 plus. Shop rare and limited edition Birkin and Kelly bags, the newest Constance Elan and leather Bolide and Picotins in the most popular colors. New bags arrive weekly, so you can also check back regularly for the latest selection.
- Browse Hermès bags available for immediate delivery.
- Explore upcoming handbag auctions across the globe.
- Speak to a Salon Associate in New York, Zurich, London, Paris, or Hong Kong to schedule an appointment.
- Contact a Handbag & Fashion Specialist about selling an Hermès bag.
Trust our worldwide network of leading handbag specialists from a globally renowned auction house established in 1744.
