Birkin Bags Are More Valuable Than Ever—Here's How to Get Your Hands on One | 9T921A2

Birkin Bags Are More Valuable Than Ever—Here's How to Get Your Hands on One | 9T921A2 | 2024-02-01 22:08:01

From Hollywood to the FROW, the long-lasting Birkin bag has turn out to be a worldwide image of standing and wealth. Its easy-to-recognise shape and hardware could be customised in numerous supplies, and it's handcrafted in a six-phase process over the course of 20 hours. Even with its jaw-dropping price ticket, the Hermès Birkin stays probably the most troublesome bags to get your palms on because of overwhelming demand. In 2020, luxury resale website Vestiaire Collective revealed that the Birkin was one of many most in-demand bags and noticed a 185% improve in sales that yr. Two years on, it is risen in worth by greater than 4%—proving as soon as once more that luxury items can be great investments. But what exactly has given this iconic piece of arm candy such enduring reputation? To know how the Birkin bag turned such a hot-ticket item, learn on.

In 1983, so the story goes, Jean-Louis Dumas—chief government of Hermès at the time—was seated subsequent to Jane Birkin on a flight from Paris to London. When the actress's top-handle basket bag tipped over, pouring all of its contents on the floor, Dumas felt impressed to design the icon a bag that was equally as trendy as her signature fashion however would truly stay closed—so inspired, in truth, that he drew the initial design on an aeroplane sick bag (chic) right then and there. And shortly after, the Birkin bag was born.

Celebrities are not any strangers to the Birkin bag—certainly you've got seen the Kardashian squad toting their Birkins on any highly papped health club run or airport outing. Kris Jenner is claimed to have an entire room dedicated to her Birkins, complete with a neon signal that reads "Want money for Birkins," a sentiment we will (type of) relate to. Kim Kardashian West even let her daughter North customise certainly one of hers in what needs to be the costliest arts-and-crafts session of all time.

Ashley Olsen is one other movie star who is usually seen dashing round with a Birkin within the criminal of her arm, as is Victoria's Secret model Alessandra Ambrosio. Nevertheless, it appears that evidently nobody is as massive a fan of the long-lasting arm candy as Victoria Beckham. It's guesstimated that she owns upwards of 120 Birkin luggage. Though, you're more more likely to see her sporting certainly one of her personal designs these days.

So just what is it concerning the Birkin bag that has garnered it such a cult A-list following? Exclusivity, in fact. Its difficult-to-get nature and recognisability make it the right flashy piece for many who love the spotlight.

The posh resale market has seen an enormous growth up to now few years, with corporations like Vestiaire Collective and Xupes asserting that the Hermès Birkin bag retains round 130% of its retail value at resale. The reasoning behind this? Shortage. It's extensively recognized you possibly can't simply stroll into any Hermès shop and anticipate one of many pristine store assistants to raise the pink ropes and current you with a choice of Birkin luggage to choose from. As Vestiaire co-founder Fanny Moizant succinctly puts it, "Something that is exhausting to get is very coveted, and there is a mystery across the luggage, which makes them even more sought-after."

On 12 June 2019, Christie's London hosted a handbag auction featuring a number of the world's most unique finds, together with an Hermès Birkin bag that bought for an unbelievable £162,500. This was the second-most-expensive handbag ever bought at auction—the document was damaged in 2018 when the Matte Himalaya Niloticus Crocodile Birkin 35 with 18-karat white gold and diamond hardware went for a colossal £236,750. One has to marvel—when would a person put on a six-figure handbag? Definitely not when their private safety workforce takes annual depart.

Certainly, it seems that a Birkin's value just keeps going up. Baghunter shared that between June 2016 and 2017, the value of Birkins on the resale market rose by 16%. Since then, Baghunter has carried out a brand new report, which discovered a growing hole between demand and supply of Birkin handbags, leading to a "mini Hermès drought" within the resale market. "With all indicators displaying Hermès has not elevated manufacturing of the Birkin bag, the worth of the Birkin is about to spike quickly," stated Evelyn Fox, co-founder of Baghunter.

We're no professional on investments, but we might say the Birkin feels like a reasonably positive guess. This begs the question: Inventory market or bag connoisseur? We'll take the luggage, thanks.