We’re observing a new inflation in the cost of Hermès Kellys. Not to worry, it’s not necessarily hitting your wallet. However, it’s now occurred so many times that it cannot be an accident. Consider this the media’s lesson in Hermès pricing.
What are we talking about? When news stories emerge about Hermès Birkins and Kellys, the prices listed always are multiples over retail. As we do a double take, the source becomes evident, at least to us. Clearly, the reporter assigned is not an Hermès collector. In searching for the cost of the bag to provide ‘shock value’ as in ‘they paid how much’ there’s nothing about the B or K on the Hermès website. The only prices they can find are at resellers.
Just today, we have two examples. Interestingly, both are Kelly bags. Naturally that leads us to wonder whether and how far the Kelly has overtaken the Birkin as a HGB. But that is for another day. In the meantime, read our prior thoughts on this:
The Hermès Poll: Vote on Your Favorites
Hermes Birkin vs. Kelly 101
More to the point, however, is that article lists the price of the bag as $25K. Now, if you’ve been lucky enough to nab one of these bags at the Hermès boutique, you know it sells for around $8K. The threefold multiple is at a reseller. You can see for yourself HERE.
What appears to be a Gold Kelly 25 or 28 Retourne is listed in the piece as costing $35K. Again, experienced Hermès shoppers know that, depending upon leather, this Kelly 25 price ranges from around $11-13K, give or take (read: Hermès Kelly Bag Prices – Retourne and Sellier Styles). The three-fold value is even an exaggeration for the secondary market. The true prices of a brand new Kelly 25 or Kelly 28 Retourne would be closer to $25K, see for yourself HERE.
Nor is this the first time we’ve discussed news sources over-stating the cost of our prized bags. You may recall that one outlet declared Cardi B’s Cargo Birkin to cost $65-80K – or thrice the actual cost. That is if you can get it.
Of course, these inflated prices are not necessarily what you would pocket if rehoming your bag. But they could be what you pay if you succumb to immediate desire for the hottest hard-to-get Hermès treasure. Furthermore, typically the elevated pricing is for rare and new in box. That used Birkin 35 likely won’t get more than what you paid… which is still a pretty good deal.
To learn more (and educate your reporter pals) read:
Hermès Kelly Bag Prices – Retourne and Sellier Styles
How I Scored Two Beautiful Hermès Kelly 25s on My One Week Trip to France
Reveal and Case Study: Hermès Kelly Pochette Takes on the Mini Kelly
The Hermes Kelly Encyclopedia