What Influences an Hermès Birkin Bag Price

Birkin Bag Price

Given the number of questions we field from potential Birkin bag buyers and sellers, the handbag specialists at Sotheby's have provided more details on what specific factors influence a Birkin bag price on the secondary market. While many factors contribute to the Hermès Birkin bag price, the most important factor can be explained by the scarcity principle. The economics of supply and demand have driven up Birkin prices for the last 20 years. In some cases a Birkin can sell for multiples of the original retail price. A leather Birkin bag purchased directly from the store starts at $9,000 but can sell for $30,000+ depending on size, color, material and condition.

What Influences an Hermès Birkin Price?

Many factors influence a Birkin bag price in the secondary market. The top factors are condition, size, material, color and date stamp. The most important factor influencing the price is condition followed by size and material.

1. Birkin Condition

"Store Fresh" or pristine condition Birkin bags that haven't been carried and still have the original box and plastic on the hardware are always more expensive than the same bag that has been carried, plastic removed and has small signs of wear. A Birkin that has obvious signs of wear like scratching on the hardware or marks on the corners sell for about 30%+ less expensive than a bag with no signs of wear. A store fresh leather Birkin sells for almost three times the original retail price or around $30,000 for a Birkin 25 or Birkin 30. A pristine Birkin 35 sells for closer to $20,000.

2. Birkin Size

In the last few years, the smaller Birkin 25 bag has been in much higher demand, so this size is generally more expensive than a Birkin 30, Birkin 35 or Birkin 40. There are fewer Birkin 25 bags in the secondary market, which also influences the price. The Birkin 30 is the most popular and sometimes a pristine Birkin 30 is similar in price as a Birkin 25. Birkin 35 and Birkin 40 are almost always less expensive due to lower demand and longer production.

3. Birkin Material

The Birkin material is also a big driver in determining a Birkin bag price. While a leather Birkin is priced lower than ostrich, lizard, crocodile or alligator, there are exceptions to this rule. An older exotic Birkin 40 or Birkin 35 that is 10 plus years old with signs of wear could be priced lower than a store fresh Birkin 25 in Togo leather in a high demand color. In general Ostrich is the least popular exotic material. Lizard is also less popular than crocodile or alligator. Leather is the most popular material but a new leather Birkin 25 is about half of the price of a new crocodile or alligator Birkin 25 on the secondary market.

4. Birkin Color

Color is another important attribute that influences the price with the most desirable bags being neutrals or pastel colors. Bright colored Birkin bag prices are lower than the equivalent neutral or pastel color Birkin bag. The demand for brighter colored Birkins is less than the neutrals and pastels, which is a key driver of price. A less important factor is hardware since this is often a personal style preference versus a value driver. There are some Hermès colors that are more popular with one hardware versus another. Some Birkin buyers also seek out limited edition hardware like Rose Gold or Brushed Palladium but hardware tends to have the least influence on the price than other attributes.

5. Birkin Age

The date stamp on a Birkin can also influence the price. In general the newest bags sell at the highest premium, especially if the bag is in pristine condition. Birkin bag prices start to decline for bags with older date stamps. Birkin bags that are 5 years or older tend to sell at a lower price than a comparable bag with a date stamp that is more recent.

6. Birkin Style

While most buyers and collectors are looking for classic Birkin bags in leather and exotic material, the style of the Birkin also influences the price. Limited edition Birkins can vary more than classic Birkin bags and tend to follow a similar pricing pattern. The Limited edition Birkins tend to peak on the secondary market within 12 months of release and then level off to a more normalized price in the next 12 months. Popular Limited Edition Birkin models include the Birkin Faubourg, Shadow Birkin, Birkin Picnic and Cargo Birkin.

How Much Does a Birkin Cost?

The short answer to the question is it depends on a lot of factors. The most important factors are condition, date stamp, material, size and color. The most expensive Birkin bag sold at Sotheby's was a Himalaya Birkin 30 with diamonds for $450,000. Even a Himalayan Birkin without diamonds sells for $100,000-250,000+. At the other end are older leather Birkin 40 or Birkin 35 in excellent condition with some signs of wear that sell for $10,000-15,000. The cost of a leather Birkin 25 in pristine or store fresh condition generally ranges from $25,000-$35,000. The cost of a leather Birkin 30 in the same condition is generally slightly lower in the $25,000-$30,000. Birkin 35 and Birkin 40 in store fresh or pristine are generally slightly less but in some cases the same as the Birkin 30. Ostrich Birkin bags are less popular than Crocodile or Alligator and often sell at prices close to leather depending in the condition, color and size.

How to Buy a Birkin Bag?

Sotheby's has a curated selection of Birkins available for immediate shipping. New bags are listed weekly but Birkin bags can sell quickly. A Birkin bag in a neutral color with a recent date stamp in pristine condition sell the fastest while older bags that aren't in pristine condition in bright colors don't sell as quickly. Exotic material Birkin bags also can take longer to sell since there are fewer buyers for exotic bags. Sotheby's also sells Birkin bags at auction in New York, Hong Kong, Geneva and Paris through out the year. A small selection of Birkin bags are also available for private sale. Finally a Sotheby's handbag specialist can also source a special Birkin bag but it may take some time depending on the bag. You can email HandbagSpecialists@sothebys.com if you have questions or would like us to source a special Limited Edition Birkin.

Why are Birkins So Expensive?

1. Craftsmanship: Every Birkin bag is hand crafted by a single trained artisan and requires a minimum of 18 hours to complete. Artisans are trained for five years so they can master every element of making the bag including leather cutting, stitching and assembly.
2. Limited Supply: Even the best Hermès customers can not walk into a boutique and pick from a selection of Birkin bags. The available supply is limited due to number of trained artisans and the time required to train new artisans.
3. Quota System: Hermès has a quota limit in place for its most popular bags including the Birkin, Kelly and Constance. Clients can only purchase two quota bags per year.
4. Market Demand: There are over 1.3 million monthly searches for the Birkin every month. The Birkin remains an icon in the fashion world, highly sought-after by celebrities, top luxury buyers and the bag-obsessed.
5. Secondary Market Premium: While the retail price of the most popular Birkin 30 in Togo leather of $12,500 is at the high end of luxury bags, the secondary market premium is the highest of any brand. A pristine Togo leather Birkin 30 sells for between $25,000 to $30,000 at Sotheby's.

Advantages to Collecting Birkins on the Secondary Market

1. Access

Sotheby's is able to provide access to a curated selection of Birkin bags from its long established global network of sellers. Sotheby's is a leading global marketplace that offers pristine Birkin bags in the most popular colors, materials and sizes along with rare Himalayan and Limited Edition Birkin bags. Our handbag specialists are always sourcing the most desirable Birkin bags from collectors around the world. Sotheby's also sells incredible private collections that include one of a kind HSS Birkins.

2. Flexibility

Sotheby's provides multiple ways to purchase Birkin bags including auction, online and in person in New York, Hong Kong, Zurich, Paris and London. Sotheby's also offers a concierge service if you need assistance sourcing a specific Birkin bag that isn't available at auction or online.

3. Value

While Birkin bags in pristine condition sell at a premium to retail, Sotheby's has bags for purchase at auction and marketplace in a range of the most desirable colors and materials. Secondary marketplaces like Sotheby's allow a buyer to purchase a store fresh pristine Birkin with the original box and all plastic still on the hardware without waiting for a call from an Hermès sales associate. While it is possible to purchase a Birkin Bag at an Hermès boutique, it is hard to predict how long it will take. Additionally if you don't have an existing relationship at the store, it is even harder to pick the exact bag including size, color and hardware. In many cases you may be offered a Birkin that may not be your desired color or size. Buyers also come to Sotheby's since they want to purchase more than two Birkins in a year. While we encourage you to build a relationship with an Hermès Sales Associate, Sotheby's can save you time when purchasing a Birkin.

4. Discovery

One of the best parts of a global luxury marketplace is discovering unique one of a kind Birkins or rare limited edition bags that are no longer available at Hermès. Sotheby's curated selection changes regularly and each auction has a unique selection of Birkin bags. You are likely to discover something new to you from Hermès.

Buying and Selling an Hermès Birkin at Sotheby's

Sotheby's always has a curated selection of Hermès Birkins available for immediate shipping. Sotheby's also sells Hermès Birkin bags at auction in New York, Paris, Zurich and Hong Kong. Expect to find Birkins in pristine condition in the newest colors and classic neutrals. Sotheby's also has rare and limited edition Hermès Birkin bags in exotic materials, custom color combinations and even diamond hardware. Prices for Hermès Birkin bags start at around $20,000 for larger older Birkin bags and exceed $100,000 for a Himalaya Birkin.

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