Jun 23, 2022
Hermès bag sells for over €150,000 second hand
Jun 23, 2022
Are second-hand shopping platforms about to replace auction houses? Perhaps not yet, but the sales records posted by some pre-owned goods specialists make you wonder. For example, a Birkin Faubourg bag by Hermès recently sold for €158,000 on Vestiaire Collective -- much higher than the average price of the luxury label's legendary model.
In recent months, they have reached record prices, even on the second-hand market.
The Vestiaire Collective platform hosted one such sale in May, when a Birkin Faubourg model went for €158,000, shattering the previous record set six months earlier by another bag... a Hermès Birkin bag, nonetheless. The latter sold for €112,000 -- already a staggering sum. A favorite bag of celebrities, the Birkin sees its price rise from year to year, representing not only a symbol of wealth but also a real investment for fans and collectors.
A safe bet, a safe investment
The coveted accessory, which will celebrate its 40th birthday in 2024, is now being snapped up at a premium, and not only in auction rooms, where it can fetch six-figure sums. Vestiaire Collective explains that the average price of a Hermès bag is up 15% in 2022 compared to last year. And this is by no means stopping customers from reaching deeper into their pockets. According to the second-hand platform, searches for Birkin bags have increased by an average of 20% compared to last year, and sales peaked in January 2022 with a 40% increase compared to the previous year.
"Timeless or classic handbags are a safe investment because they never go out of style and never lose their value," explains Sophie Hersan, head of fashion and co-founder of the platform. "This is not the first time that Vestiaire Collective has sold an extremely rare Hermès, which is a testament to the trust of customers and the quality of the authentication service offered by the platform."
Rarity is indeed one of the reasons why the second-hand market is the ideal solution for those who dream of a unique (or almost) model, and for the authentication services that guarantee you don't end up with a counterfeit. While a classic Birkin is priced under €10,000 in boutiques, prices climb to tens of thousands of euros for specific models on luxury second-hand platforms such as Collector Square and Vestiaire Collective, reflecting a growing craze for the iconic bag, which has gone from being a rare and precious accessory to a genuine financial investment in the space of just a few years.
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