By Maura Carlin, Editor
As of January 2026, the PurseBop Birkin Premium stands at 19.5%— marking a significant shift in the pricing relationship of the Hermès Birkin 25 and the Chanel 11.12 Medium Classic Flap.
By definition, in financial terms, a premium or discount is the percentage difference between one good’s value and that of another. Putting it simply, the Birkin Premium refers to how much more expensive the Birkin is compared to another bag. The Premium does not take into account the brand exclusivity or difficulty in acquiring a Birkin over that other bag, it just narrows in on price. For our purposes, the comparison is the Classic Chanel flap in the size medium and Birkin 25.
Now that the definition is clear, let’s explore the Birkin Premium which measures the percentage price difference between these two iconic bags. As Birkin prices rise and Chanel prices stay the same, the Birkin Premium goes up. Conversely, when Chanel prices rise more than Birkin prices, the Birkin Premium goes down. Over the last decade, and particularly the last five years, both bags have endured exceptional price hikes, shifting and reshifting the comparative value.
This 19.5% Birkin Premium represents a full reversal from January 2023, when the Chanel Flap approached price parity, at only 2% less than the Birkin. That brief moment of convergence was remarkable in itself and disappointing to the long-time lovers of Hermès — down from the 91.8% premium of 2016, when the Birkin cost nearly twice as much as the Classic Flap.
What happened? Chanel struck first, aggressively raising prices for the Classic Flap. Between 2020 and 2023, the price rose $3,700, bringing it from $6,500 to $10,200 and into five-figure territory. In this same period, the Birkin 25 price increased a modest $550.
But, Hermès wasn’t going to go down without a fight. Beginning in 2024, Hermès bag pricing began a march upwards of its own, rising $3,100 by 2026. At the same time, Chanel price hikes slowed, with an $1,100 increase during that period. As Hermès prices rose more rapidly than Chanel’s, the Birkin Premium also grew, heading back towards 20%.
The contrast is striking: over the decade since 2016, the Birkin 25 price rose $4100 while the Chanel Flap increased $6400. Yet the timing and level of these increases created wildly different Birkin Premiums, ranging from 92% to 2%, and now 19.5%.
So, what does the current 19.5% Birkin Premium signal? It’s a middle ground gently confirming that the Birkin is more valuable than the Flap. Hermès clients may say that the Birkin Premium is understated and doesn’t reflect the real cost of purchasing a Birkin, which they say involves excess purchases of other items. Access to these bags remains limited and most cannot simply walk into Hermès and stroll out with a Birkin, whereas access to purchasing a Chanel Flap is not as restricted.
Should we expect ever-escalating price increases by Hermès as an attempt to spike the Birkin Premium? While there seems to be a never-ending desire for the bags, perhaps there is a price where buyers begin to push back.
Love, PurseBop
XO
Updated: February 18th, 2026
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