Birkin bags can double in value in 5 years — some styles up to $450K — and are a better investment than gold: luxury expert
NY Post
Hermès’ highly coveted Birkin handbag becomes even more coveted after it leaves the store — doubling in value in as little as five years, according to a luxury expert.
James Firestein, founder of luxury resale and authentication platform OpenLuxury, told Fortune that the steepest price increase he has ever witnessed when a Black Togo 30 Birkin doubled in value in five years.
For reference, the price of the Black Togo 30 widely varies on resale platforms due to the bag’s condition, type of hardware metals and the year it was purchased from Hermès, going for anywhere from $30,500 for a “like new” bag on Sotheby’s to $10,925 on The RealReal or roughly $8,000 on eBay.
More commonly, however, it takes a decade for the price of a Birkin to surge two-fold.
“I know several instances where people have doubled their money based on buying it 10 years ago, and reselling it today in pristine condition,” Firestein said, per Fortune.
“The resale value of particularly the Birkin and Kelly bags over the past 10 years has outpaced gold,” he added.
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