Just recently, we have seen second hand Hermes Birkins dropping in resale value. There are some prices dropping by 50%. Previously, it was known that these bags are being re-sold for significantly more. For the most part, these bags were sold at double of the retail prices.
Older Birkin bags may lose their value
Despite this, it seems the newer bags are still being sold at a premium. However, observations note that those which are 5 years and older may lose their value. Additionally, since these luxury items are handbags, and are meant to be used, wear and tear can significantly drop the value of these bags.
Re-sellers slashing prices
Some sellers are cutting the prices of these bags in half. Previously, a Birkin 25 in black epsom leather with gold hardware was on the market for RM102,600. Now, the re-seller has dropped it to RM51,300. That is a 50% price drop. The current estimate of a new Birkin is around RM48,000.
Consignment re-sellers offer Birkins for as low as RM18,000, though those in this price range are often heavily used. For budget-conscious fashion lovers, bag spas and restorations can make these items look newer.
Another Birkin is priced at RM33,000. Social media users discuss the profitability and value of these items, noting that a well-made Hermes bag can last a lifetime. However, if the main goal is to re-sell for profit, it may not be the best idea, especially in the current economy.
Birkins as investment pieces
YouTuber Pamela Metani points out that, as a wearable fashion piece, it is susceptible to damage and more prone to wear and tear than other investment assets. She also notes that while Hermes has a strong reputation now, scandals—like those that have impacted Gucci, Balenciaga, and other brands—could affect the resale value of these items.
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