Birkin bag prices are sinking at auction despite high-profile sales
Luxury experts say aspirational luxury consumers are facing new pressures from inflation and a slowing job market, meaning fewer Birkin buyers at auction.
TL;DR
- Overall auction prices for Hermès Birkin and Kelly bags are falling despite two recent high-profile sales.
- The average resale premium for these bags has decreased significantly since 2022.
- Factors like inflation, a slowing job market, and increased supply of secondhand bags are pressuring prices.
- Aspirational luxury consumers face new economic pressures, reducing demand at auctions.
- Hermès handbags continue to sell for more than their original retail price, indicating persistent demand.
- Hermès maintains its top position in consumer desirability within the luxury market.