2022 Hermès Luxury Handbag Market Price Value Report

Posted by The Ban Island Team

January 26, 2023

👋 Hello everyone, this year I got recruited to create and develop a digital luxury brand (gasp). Now, we are represented by WME Agency, the world’s biggest hollywood talent, but that’s an update for another day.

It’s been a minute since our last market value report. Since EVERYONE’s been pinging me about where the market is headed in terms of our beloved Hermes and Chanels, I thought I would crunch some numbers and show you the data.

Welcome to our VIP member-only edition of Ban Island’s Collection Guide.

What are we waiting for? Let’s dive in.

As certified Hermès lovers, you know that the luxury brand prices increase around February of each year. And, 2022 was no exception. Luckily, this Hermès price increase was an average of 3.5%, and wasn't nearly as bad as the price increase of LV with a global average of 7% (ouch) and Chanel with 10%.

While it feels small, it’s still more than double the usual rate of 1.5% - we have the inflation to thank for that.

Despite the pandemic, 2021 sales were up by 42% with the U.S. and China primarily driving this growth. With even higher demand + a very limited supply = higher collection value.

A couple notes before we begin:

Hermès does not raise their prices by the same percentage across the board - estimated 2022 retail prices are marked with an asterix (*)
We excluded the lowest and highest price outliers + HSS and Exotics, averaging out the actual listing prices for each style and size
For collection value, we accounted bags in new/like new condition
All currencies are in USD

Hermès Birkin

Prices based on Togo Leather

In just over a year, the Hermès B25 has increased over $8500!

Hermès Kelly Sellier

Prices based on Epsom Leather

Kelly Sellier 35’s collection value rate has decreased, and we predict the Kelly Sellier 32 may follow the trendline and following suit. It seems that the boxier silhouette is much more popular in the smaller sizes and not the larger ones.

Hermès Kelly Retourne

Prices based on Togo Leather

Going against the trend, the Kelly Retourne 35 has a higher collection value than the Kelly Retourne 32 this year. Reading opinions online, it seems that many people love how edgy and artsy the larger Kelly Retourne 35 looks. The larger size + slouchier silhouette makes the Kelly Retourne 35 a roomy carryall.

Hermès Kelly Pochette, Kelly Cut, & Kelly Danse

Prices based on Swift Leather

The Kelly Pochette has the highest gross profit margin out of all Hermès styles. This + the lower retail price makes the Kelly Pochette a smarter investment than the Kelly Sellier 20 - collection value wise.

Only 2.41% of Ban Island members were offered a Kelly Pochette in 2021 further driving up the collection price.

👉 Want to know who got offered what bag? Check out our 2021 Hermès Survey Results.

Hermès Constance

Prices based on Epsom Leather

Like we mentioned, Hermès loves to keep shoppers on their toes by raising their prices by different percentages. The price of the Constance 18 has risen by 3.25% while the price of the Constance 24 has risen by 1.0%.

Hermès Evelyne III

Prices based on Taurillon Clemence Leather

Hermès Picotin Lock

Prices based on Taurillon Clemence Leather

We wouldn’t have guessed this: the Hermès bag with one of the highest price increases in 2022 is the Picotin Lock 18 PM. Its price went up by 7.3%.

The Picotin Lock is perhaps the most understated Hermès bag, making the bucket bag popular amongst stealth luxury lovers.

Hermes Lindy

Prices based on Taurillon Clemence Leather

All sizes of the Hermès Lindy (even the Mini!) have a lower collection value in 2022 than in 2021. Although, the collection value of the Lindy in Japan is an average of 30% higher than the US.

Hermes Bolide

Prices based on:

Chevre Mysore Leather for the Mini 1923
Epsom Leather for size 27
Taurillon Clemence Leather for size 31 and 35

In 2021 we predicted that the Hermès Bolide would only rise in collection value because of how popular the bag was in Asia at the time. (See our Hermès Gold Bag Value and Breakdown). Seems like we were right on the money.

The Bolide 35 has the lowest gross profit margin out of all Hermès bags with -148.3%.

And there you have it! Are these collection values what you were expecting?

Catch you in our next post. In the meantime join our FB Group where we discuss these insights.

Did you hear the news? We’ve created the world’s first digital luxury handbag.

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