What is it about this Kelly 20 that measures a mere 8” x 4”?
Yes, it’s small and cute with all the original Kelly hallmarks (except the clochette). But it’s diminutive measurements also mean not much fits inside. And, frankly, it’s not that easy to access.
Nevertheless, this itty bitty Kelly is one of the most sought after Hermes handbags. Ever. Impossible to find, fans new and old clamor for this gem. If you’re lucky enough to score one from Hermès, clearly it has the highest cost per square inch than any other handbag on the market!
Don’t believe us… See for yourself. The retail cost of an epsom leather mini Kelly 20 is $8000. With a really quick calculation that makes it about $250 per square inch on an teeny bag with total square inch footage of only 32. Compare that with a Kelly 25 costing $11,000 or a medium Chanel Classic Flap at $8800. The cost per square inch is at least half of the Kelly 20.
Now, the above is retail pricing … What really blows our mind are the Kelly 20 prices in the secondary market. However steep you may think $8000, resellers demand (and command) multiples of that. It’s common to see these listed with price tags of $30,000 – $40,000. Not to belabor the point, but, on the upper end, it’s approaching $1000 per square inch.
Now once upon a time these cuties were harder to find even on reseller sites. Our guess is that the proud owners weren’t interested in letting them go. Fast forward to 2021 and further escalating secondary market prices due to shortages, and all of a sudden we see them coming out of the woodwork… but at exorbitant prices.
We get the allure – mini crossbody Kelly’s for petite frames and hand ornaments for the rest of us. They are delicious to collect, almost like skittles. But impossible to get.
We wonder how long the craze will last. Speculation about the return of larger bags abound, as yet there is little actual evidence. Will these remain as hot as they are today? Well it all depends on just how rare they remain. For now though, it’s safe to say that a Kelly 20 might be the most desirable Hermes bag on the secondary market commanding prices 5x retail.
We remember distinctly when Hermès first announced the launch to mixed reviews. Some actually recognized the inutility of the size so were able to resist. Fast forward a couple years and we believe all reason has flown out the window. Please know there’s no criticism from our end… we’re as bonkers over the size as the next.
Stay tuned to part II – more on the mini Kelly 20 tomorrow.