Only a handful of bags are made by Hermès each year due to the slow and detailed crafting of the bags along with materials and leathers that are difficult to source. This limits the ability to purchase new bags directly from Hermès, resulting in the infamous years-long waiting list. Therefore, a valuable and profitable resale market was born where the bag is more expensive to buy used than new.
And while Covid-19 has brought uncertainty at the direction of global financial markets, Hermès Birkin bags have held their value “better than gold” in these uncertain times. Reports have shown that secondary market prices for Birken bags have gone up even though the supply has also gone up.
Baghunter, an online retailer for luxury handbags, found that while the stock market and the value of gold can swing up and down, that was not the case for the value of the Hermès Birkin bag. The bags have been on trend to increase in value by an average of 14.2 % and have been considered the “safest and least volatile investment market of the three.” The fact is that the value of the Birken bag has never decreased.
