The most expensive bags in the world: Hermès sets the tone
As the Royce Rolls of bags, Hermès has become the icon of status symbol. What began as a small saddlery in a Parisian suburb has produced the most expensive bags in the world over the past few decades. The Birkin Bag, Kelly Bag and Constance Bag models have created a league of recognition that is second to none.
If the purchase of a new Hermès bag comes with the famous waiting lists, which - once you get on one - requires a conversation in a boutique beforehand, it's not "just" a bag. Rather, it is the membership card to one of the most exclusive clubs in the world. In recent years, it has become possible - through the popularity of secondhand platforms, such as Vestiaire Collective - to accelerate the steps. But prices remain high and the increases in value beat even those of gold by a long way. In cases of limited editions, like Hermès' Himalayan Birkin Bag, which is among the most coveted with a handful of copies, the market is particularly hotly contested. Even more, coveted - because rarer - is the "Niloticus Crocodile Retourné Himalaya Kelly Bag."
An example from the last decade: while the price of gold rose by 29 percent, Hermès recorded an increase in value of 108 percent in the bag segment.
Facts and figures confirm that the run on Hermès bags continues unabated. In the crisis year of 2020, Hermès experienced an upswing in sales of 17 percent. The reason: the exclusivity of how the handbags are sold keeps the number of available bags small. As a result, the desirability of getting one of these status "tokens" remains unbroken. Made from the finest leathers in the world, such as the famous Barenia leather (the highest quality calfskin), Hermès bags are the epitome of prestige.
The color of a Hermès can influence the price
Rachel Koffsky, International Senior Specialist for Handbags and Accessories at Christie's in London, recommends investing in the classic models, Birkin and Kelly. "These pieces will hold their value over the years. Their quality outlasts generation." But it doesn't have to be black bags that fetch high prices. Shades like "Rose Lipstick," "Rose Azalea" and "Rose Sakura" fetch astronomical sums. There will always be strong demand for the classics, but unusual, limited-edition bags are in demand among Hermès connoisseurs. Many collectors spend years "hunting" for a particular piece, the expert said.
A limited edition "Rose Mexico Swift Leather & Marble Silk Constance 24" with palladium fittings will be auctioned at Christie's in June 2021. It is valued at up to 10,000 euros. More expensive is its "colleague": a rare "Électrique Porosus Crocodile Mini Constance 18" with 18-carat white gold and diamond fittings in a beautiful navy blue, estimated at up to 100,000 euros. "This piece is for an extremely sophisticated collector," said Rachel Koffsky. Perhaps a new Constance record will even be broken in June? One can be curious.
Since 2017 the most expensive Hermès bag in the world: Hermès Himalaya Birkin
Among Hermès collectors, Christie's auction house is considered a hotspot for rare pieces. In 2017, for example, the auction house set a record. At that time, a Hermès Himalaya set with 10.23 carats of diamonds was sold for 293,000 British pounds (about 310,000 euros) in Hong Kong. To date, a record sum. However, given the demand, this figure could soon be surpassed.
Prices also vary for the Hermès Himalaya. But why? Here, the coloring of the crocodile leather used is particularly crucial. Each Hermès Himalaya is made from the leather of a Nile crocodile. And since natural materials are just never the same, the coloring is different and like a fingerprint, making each Hermès Himalaya absolutely unique. To achieve the white of the pattern, the leather is rubbed over a wooden peg in the atelier until it reaches the desired texture. Because the leather is reminiscent of the snow-capped peaks of the Himalayas, it was given this name. Rarer than the Hermès Himalaya Birkin Bag, by the way, is the Hermès Himalaya Kelly Bag, which is one of the rarest handbags in the world.
But it doesn't always have to be crocodile leather: equally popular - and commanding high collector's prices - are examples of the Hermès Kelly Picnic Bag made from wicker. They are just as coveted and fetch high prices, being offered at 40,000 euros to 100,000 euros on luxury second-hand portals (like this one from Farfetch).
Again, this choice of material falls back on the "benefactor," Jane Birkin. Thus, the 70s idol was famous for her casual French chic and always carried her belongings in a small basket. The fact that wicker has not lost its sex appeal to this day is shown by the trend in recent years towards "wicker baskets". Hermès also immortalized Jane Birkin here again and is celebrating the fashion icon's je ne sais quoi with its "Picnic Bag" model.
But it should not remain the only basket bag model. The Hermès Osier Ratan Wicker Barenia Picnic Basket and Hermès Garden Picnic Basket Tote Bag models also enjoy collector's prices.
