2024 Hermès Collection Value Report Highlights
Posted by The Ban Island Team
February 06, 2024
2024 Hermès Collection Value Report Highlights
👋 Hello everyone! We’ve received a bunch of messages about the real deal on bag values and the lowdown on the resale scene. Get ready, because we’ve got you covered with the highlights of our Hermès Collection (Resale) Value Report. Just a heads up, we're giving you a taste of the Hermès Collection Value Report with some quick insights. If you want the full scoop on average resale prices and comparisons across Facebook groups, eBay, and Fashionphile, check out the VIP exclusive version right here!
The Hermès resale game is like a rollercoaster at the moment, but we’ve got your back! With our fresh data and market insights, we hope you have a clearer picture of your collection and help you know what to snag or part ways with next! 🙂
We aim to empower you to make informed decisions without getting too lost in the details. As a thank you for being a Ban Island member, use code 'HERMES2024' for 20% off your first VIP upgrade!
Happy reading!
A few notes before we begin:
A few notes before we begin:
- Extreme price outliers, HSS/SOs, and exotics have been excluded. Our calculations are based on the average listing price in Togo or Epsom leather for each model and size.
- Only bags in new or like-new were considered for resale value.
- All figures are in USD.
What are you waiting for? Let’s dive in and unravel some Hermès market mysteries!
2024 Hermès Retail Prices
Hurdling through the H game this past year proved to be quite the challenge as retail prices soared up to 10% in 2023! And the upward trend persists, with prices climbing an average of 6.4% for 2024.
As anticipated, the Birkin 25 takes the lead with an impressive surge of $1000.
Yet, what might catch you off guard is the Picotin 18 closely trailing behind in terms of percent increase. In the aftermath of the pandemic’s impact, Forbes highlights a shift towards a more laid-back style of fashion. The Picotin’s uncomplicated and relaxed design seamlessly aligns with this trend, potentially contributing to its popularity.
2024 Hermès Collection Value Breakdown
Yet, the resale value for all Hermès bags experienced a significant dip averaging at 10% despite the upward trend in retail prices.
What’s behind this downward trend in numbers?
“Consumers are worried about the economy and they are not spending as much. They are no longer willing to pay the same price at resale that were willing to pay last year for brands like Hermès, Gucci and Louis Vuitton.”
- Sasha Skoda, Director of Merchandising at The RealReal
Skoda also noted that Zillenial and Gen Z shoppers, who make up for the majority of pre-loved buyers, are gravitating more towards brands including Miu Miu, Bottega Veneta, and Telfar because of their more affordable price point and contemporary designs.
The timeless elegance of the Mini Kelly prevails, maintaining its status as the most valuable Hermès bag. Its average resale value has dropped 5.4% since our last resale report.
Nevertheless, Hermès’ revenue proudly stood tall showcasing a 17% increase in sales in 2023 when compared to that of 2022. The company credits this surge in sales to Asia, specifically their Japanese customers. Alongside the introduction of two new bag models, the Kelly Messenger and the Maxi Kelly, which drew in fresh clientele.
If you're eager to unlock juicier insights such as average resale price figures, percentage increases in retail prices, and a comprehensive resale value comparison across major platforms including Facebook Groups, eBay, and Fashionphile, it's time to elevate your experience.
Become a VIP member today and access the exclusive content you've been waiting for!
PS - Don't forget to use code 'HERMES2024' for 20% off your first VIP upgrade.
And there you have it! Are these resale values you were expecting?
Become a VIP member today and access the exclusive content you've been waiting for!
PS - Don't forget to use code 'HERMES2024' for 20% off your first VIP upgrade.
And there you have it! Are these resale values you were expecting?
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