Hermès Birkin sells for $100K, setting stage for future resale prices

A Birkin bag sold on Baghunter for $99,750

Online consignment marketplace Baghunter has broken its previous sales records after a VIP client purchased a rare Hermès Birkin Bag.

Baghunter specializes in collectible handbags and is a trusted and authenticated source for “pre-loved” Hermès and Chanel handbags. The elephant gray and black bi-color crocodile special-order Hermès Birkin handbag was taken off Baghunter shortly after being posted when it was spotted by an anonymous VIP client.

All that and a Birkin bag
Given the rarity of the handbag, Baghunter first offered it to its VIP clients, a standard procedure, and within days a high-profile client voiced interest. The Birkin was then purchased for $99,750.

Birkin handbags have high market retail prices, and often reach even higher prices at auction and resale due to the infamy of the bag as a status symbol.

This particular Birkin bag was listed on Baghunter in pristine condition, showing no signs of previous wear and tear. The handbag was likely purchased for valued rather than as a fashion statement. If the purchaser decides to sell the crocodile special-order Hermès Birkin in the future, it is likely to fetch more than the price for which it was purchased.

Hermès Birkin sold for $99,750 on Baghunter 

“Many of the Hermès bags we consign come to us in pristine condition,” said Evelyn Fox, CEO of Baghunter in a statement. “This is because many of the trusted resellers and collectors we work with understand the investment opportunities in Hermès bags and keep them solely for that purpose.

“This trend is set to continue with figures based on the past showing that the value of Birkin bags will continue to steadily rise by up to 10 times more than today’s market prices in the next 35 years if history repeats itself,” she said.

While the $99,750 selling price is immense, the record-breaking sale may soon be upstaged as a two-tone Hermès Birkin special-order crocodile in black and orange was recently listed on Baghunter for $114,000.

Although Birkin bags command huge prices, the handbags, often made of reptile skins, have also been under scrutiny as of late.

Over the summer, Hermès faced continued pressure from the People for the Ethical Treatment of Animals following the activist organization’s allegations last month of mistreatment of alligators and crocodiles that eventually become its handbags and watches (see story).

from Luxury Daily » Apparel and accessories http://www.luxurydaily.com/hermes-birkin-sells-for-100k-setting-stage-for-future-resale-prices/
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