WHAT: When Heritage Auctions held a Signature auction of luxury bags and accessories last month, 50 bags of the more than 600 lots sold were from Hermes. Hermes bags outsold bags from Chanel, Louis Vuitton, Judith Leiber and other luxury houses. Sale results hit over $2.5 million.
MORE: The top lot was a previously owned circa 2010 Hermes limited edition matte So Black Nilo crocodile Birkin bag with PVD hardware in pristine condition. The all-black look pushed the price to $125,000. Another black Birkin, a circa 2006 Porosus (another species of croc) bag in excellent to pristine condition with 18K white gold and diamond hardware, sold for $118,750.
SMART COLLECTORS KNOW: Available in Hermes boutiques only since 2010, the limited edition So Black Birkin is rare on the secondary market.
HOT TIP: The new black hardware caused a sensation with fashionistas even before its release. PVD stands for “physical vapor deposition” and is a way of bonding metal with another metal.
BOTTOM LINE: Luxury bags enjoy a brisk and competitive secondary market. It’s like a luxury auto: Let the original owner eat the depreciation.
