An Hermès bag, the ultimate status symbol for luxury fashion enthusiasts worldwide, is as exclusive as it is expensive. What makes this fashion accessory so incredibly sought after is not only its general rarity (due to high demand and low supply) but also its sky-rocketing price within the pre-owned market.
If you are one of the lucky few to have an Hermès Kelly or Birkin bag in your possession, caring for your luxury leather bag is natural, especially if you are considering selling it on the secondhand market down the road. The condition of an Hermès bag, among other things, is one of the main factors towards ensuring that you get top dollar for it from online luxury consignment stores such as LUX.R.
1. Overall Condition
As we alluded to earlier, the overall condition of your Hermès bag contributes largely towards its resale value. Ideally, if your pre-owned Hermès Kelly or Hermès Birkin bag is close to brand-new, it can secure a premium price. However, a combination of various factors such as the condition of the leather, hardware, interior, and canvas or print can affect the bag’s value. Granted, through its natural life, the leather textile of the bag might age due to exposure to its environment. The same can be said for the precious metals that make up the hardware. Usually composed of gold or palladium, flea bites or hairline scratches on these polished portions are likely to depreciate the value of your Hermès bag even further.
Ultimately, the key indicator is whether your Hermès bag suffered any unforced errors in handling. A blatant rip or scratch is usually a sign of irresponsible ownership, which will undoubtedly affect the resale price of an Hermès bag.
2. Original Accessories Intact
When purchased, most Hermès bags come with a set of specific accessories. For example, the Hermès Birkin and Kelly bags, which are highly valued in the pre-owned collector’s market come with a padlock and key. However, these accessories also provide another level of authenticity for sellers of Kelly or Birkin bags in more recent years. Their intricate designs make them difficult to forge and help them differentiate genuine bags from counterfeits.
In the past, these accessories bore the Hermes stamp and a single number on the bottom corresponding to the key number. However, since then, Hermès introduced a new “serial number” feature for the lock and keys, allowing buyers to ensure authenticity. These accessories also complement the aesthetic of the bags, which accentuate the bag’s value when paired together. Sold as a complete set, the resale price of your Hermès bags skyrockets on the pre-owned market.
3. Proof Of Purchase
Another major factor that influences the price of your Hermès bag on the resale market is the original proof of purchase. Whether it be a receipt from an authorised dealer or a sales invoice from an Hermès boutique, the provenance it provides corroborates the authenticity of your bag.
Given the elusive nature of Hermès bags, as much as 80% of products sold under the brand’s name are counterfeits. As such, buyers are willing to pay a premium for the provenance and proof of authenticity accompanying the sale. For all prospective Hermès bag owners out there, keep the purchase receipt if you decide to sell that Birkin bag one day!
4. Popularity Of Item
The final factor that dictates the value of your Hermès bag is the popularity of the item. Certain bags are consistently sought after, such as the Hermès Kelly or Birkin bag, and the low supply of such bags feeds into a spike in value on the secondhand market against extravagant demand.
Factors such as a bag’s size, colour, and exclusivity all weigh into its final costs on the preowned market. Smaller bags continue to see their value appreciating upwards, while classic black and neutral colours remain popular amongst Hermès collectors. Finally, special-order bags in the colours mentioned above still demand top dollar at online luxury consignment stores due to their rarity. However, it should be noted that there is usually a smaller buyer market for these niche bags, given their heightened price.
Need More Help?
There are many things to consider when listing your preloved Hermes bags on the secondhand market. If you experience any uncertainty, always approach a trusted expert and reputable Hermès reseller like LUX.R to ensure you get the best resale price for your bag. Reach out online today for a preliminary assessment and consign your Hermes bags with us, fuss-free.
