We can all agree that the hottest luxury event of the year is the Hermès price increase.
The 2024 hikes have already been released, and the impact will definitely send a ripple through the resale market.
If you’ve been dreaming of getting an iconic Birkin, this is your need-to-know guide.
We’re tracking the latest Hermès price changes for bags in the US and Europe. Here’s everything you need to know about it.
Hermès Price Increase in the US
Birkin and Kelly bag sales are restricted to just two bags per year per customer. This exclusivity is exactly why Hermes religiously increases its prices every year, especially in the US.
Hermès Price Increases on Quota Bags
First, let’s explore the new Hermès prices for their most sought-after bags: the Birkin, Kelly, and Constance.
These iconic bags are often called “quota bags” due to their limited availability and the special systems boutiques use to manage sales. Let’s dive into how the 2024 price increases will affect these highly-coveted handbags.
| Style | Leather | 2023 Price | 2024 Price |
| Birkin 25 cm | Togo | $10.4K | $11.4K |
| Birkin 25 cm | Sellier Box | $15.4K | |
| Birkin 25 cm | Touch Croc | $22.5K | |
| Birkin 30 cm | Togo | $11.6K | $12.5K |
| Constance 18 cm | Mirror Epsom | $8.7K | |
| Constance 18 cm | Epsom | $8.9K | |
| Constance 18 cm | Chevre | $10K | $10.4K |
| Constance 24 cm | Chevre Chamlika | $12.3K | |
| Constance 24 cm | Box | $13.7K | |
| Mini Kelly 20 | Epsom | $8.7K | $9.4K |
| Mini Kelly 20 | Chevre | $9.4K | $10.1K |
| Mini Kelly 20 | Ostrich | $16.4K | $17.8K |
| Mini Kelly 20 | Clouté Studded | $23.4K | $25.9K |
| Mini Kelly 20 | Alligator (Shiny) | $36.7K | |
| Mini Kelly 20 | Quelle Idole Picto Doll | $15.9K | |
| Mini Kelly 20 | Teddy (Suede Grizzly) | $17.3K | $19.1K |
| Mini Kelly 20 | Lizard | $18K | $21.1K |
| Mini Kelly 20 | Touch Veau Madame/Gator | $13.5K | |
| Mini Kelly 20 | Alligator (Matte) | $31.5K | |
| Kelly Dépêches 25 cm | Togo | $8.4K | $9K |
| Kelly 25 cm Sellier | Epsom | $11.3K | $11.8K |
| Kelly 25 cm Retourne | Togo | $10.9K | $11.3K |
| Kelly 28 cm Sellier | Epsom | $11.8K | $12.5K |
| Kelly 28 cm Retourne | Togo | $11.3K | $12K |
| Kelly 32 cm Retourne | Togo | $12K | $12.6K |
| Kelly 32 cm | Epsom | $13.3K | |
| Kelly 35 cm | Togo | $13.4K | |
| Kelly 35 cm | Epsom | $14.1K | |
| Kelly Pochette | Swift | $6.4K | |
| Kelly Pochette | Lizard | $14.5K | |
| Kelly Danse | Swift | $8.7K | |
| Kelly Danse | Lizard | $17.5K | |
| Kelly Danse | Ombré Lizard | $19.8K |
Hermès Price Increases on Other Handbags
The 2024 Hermès price increase has also impacted beloved classics like the Lindy, Picotin, and Evelyne – see our detailed breakdown below for the latest numbers.
| Style | Leather | 2023 Price | 2024 Price |
| Lindy Mini | Clemence | $6,650 | $7,300 |
| Lindy Mini | Ostrich | $14,100 | |
| Lindy 26 | Clemence | $8,150 | $8,700 |
| Picotin Micro | Swift | $3,325 | |
| Picotin 18 cm | Monochrome | $3,525 | |
| Picotin 18 cm | Lucky Daisy | $3,775 | |
| Picotin 18 cm | Clemence | $3,025 | $3,300 |
| Picotin 18 cm | Eclat | $3,325 | $3,525 |
| Picotin 18 cm | $3,775 | $4,125 | |
| Picotin 22 cm | Clemence | $3,325 | $3,575 |
| In-The-Loop 18 cm | Clemence | $4,500 | $4,850 |
| In-The-Loop 23 cm | Clemence | $5,200 | |
| Geta | Chevre | $5,950 | $6,450 |
| Evelyne 16 Amazone | Clemence | $2,050 | $2,200 |
| Evelyne 16 Amazone | Felt/Swift | $1,775 | |
| Evelyne III 29 | Clemence | $3,650 | $3,850 |
| Evelyne III 29 | Maxi Quadrille Strap | $3,900 | |
| Evelyne III 29 | Felt/Swift | $3,329 | |
| Bolide on Wheels | $15,900 | ||
| Bolide 1923 Mini | Chevre | $5,800 | $6,300 |
| Bolide 1923 25 | Epsom | $6,850 | $7,450 |
| Della Cavalleria Mini | Epsom | $6,050 | $6,550 |
| Roulis Mini | Evergrain | $8,000 | $8,700 |
| Garden Party 30 | Negonda Calfskin | $3,775 | $4,125 |
| Garden Party 49 | Voyage Canvas | $4,400 | |
| Herbag Zip 31 | Canvas | $2,825 | $3,050 |
| Herbag Zip 31 | “Circuit 24” | $3,575 | |
| Herbag Zip 31 | Cabine Criss Viking Canvas | $3,775 | |
| Herbag Zip 31 | Verso Officier Canvas | $2,825 | |
| Herbag Zip Cabine | $4,900 | $5,400 | |
| Jypsiere Mini | Swift | $7,150 | $8,100 |
| Verrou Chaine Mini | Laque Chevre | $8,800 | $10,300 |
| Verrou 21 | Epsom Canvas Strap | $9,300 | |
| Cadenas Clutch | Tadelakt | $6,500 | |
| Kelly Ado Backpack | Clemence | $9,150 | |
| Space Malice | $22,700.00 | ||
| 24/24 Mini | Evercolor/Swift | $8,800 | $9,550 |
Hermès Price Increase in Europe
Since Hermes bags tend to be more affordable in Europe than in the US, many Birkin fanatics tend to buy from European retailers for better deals. Here’s how the prices have increased in that region.
Hermès Price Increases on Quota Bags
Here’s a complete breakdown of the Hermes price increase on quota bags.
| Style | Leather | 2023 Price | 2024 Price |
| Mini Kelly 20 cm | Epsom | €6700 | €7150 |
| Mini Kelly 20 cm | Chevre | €7500 | €7700 |
| Mini Kelly 20 cm | En Desordre | €10500 | €11400 |
| Mini Kelly 20 cm | Ostrich | €11800 | €13500 |
| Mini Kelly 20 cm | Picnic | €12200 | €13500 |
| Mini Kelly 20 cm | Lizard | €16000 | €16200 |
| Mini Kelly 20 cm | Studded | €18000 | €19600 |
| Mini Kelly 20 cm | Alligator (Matte) | €26200 | €27900 |
| Kelly 25 cm Retourne | Togo | €8050 | €9100 |
| Kelly 25 cm | Swift | €8400 | €9000 |
| Kelly 25 cm Sellier | Epsom | €8650 | €9500 |
| Kelly 25 cm Sellier | Chevre | €9250 | €9600 |
| Kelly 28 cm Retourne | Togo | €8650 | €9600 |
| Kelly 28 cm Sellier | Epsom | €9100 | €10,300 |
| Kelly 32 cm Retourne | Togo | €9200 | €10,000 |
| Kelly 32 cm Sellier | Epsom | €9850 | €10,700 |
| Kelly Quelle Idolle | Picto | €12300 | €13400 |
| Kelly Elan | Crocodile (Shiny) | €36600 | €39900 |
| Kelly Pochette | Swift | €4900 | €5200 |
| Kelly Danse | Lizard (Ombre) | €15200 | €16200 |
| Kelly To Go | Epsom | €4600 | €4900 |
| Birkin 25 cm | Togo | €8050 | €8600 |
| Birkin 25 cm Sellier | Epsom | €8650 | €9000 |
| Birkin 25 cm | Lizard | €15100 | €16700 |
| Birkin 25 cm | Ostrich | €15650 | €16700 |
| Birkin 25 cm | Alligator (Matter) | €39000 | €42100 |
| Birkin 30 cm | Epsom | €8750 | €9250 |
| Birkin 30 cm | Togo | €8900 | €9400 |
| Birkin 30 cm | Barenia Faubourg | €9800 | €10400 |
| Birkin 35 cm | Togo | €9850 | €10200 |
Hermès Price Increases on Other Handbags
Here’s a complete breakdown of the Hermes price increase on other handbags, including the Lindy, Evelyne, Constance, Picotine, and more.
| Style | Leather | 2023 Price | 2024 Price |
| Constance 18 cm | Epsom | €6700 | €6950 |
| Constance 18 cm | Chevre | €7700 | €8000 |
| Constance 18 cm | Swift with Mirror | €7250 | €7550 |
| Constance 18 cm | Studded | €20000 | €21800 |
| Constance 18 cm | Alligator (Matte with Mirror) | €26200 | €27000 |
| Constance To Go | Epsom | €4600 | €4900 |
| Lindy Mini | Clemence | €5100 | €5500 |
| Lindy 26 cm | Clemence | €6250 | €6500 |
| Evelyne III 16 cm | Clemence | €1570 | €1660 |
| Evelyne III 29 cm | Clemence | €2800 | €2900 |
| Bolide 1923 25 cm | Epsom | €5300 | €5600 |
| Jypsiere Mini | Swift | €5500 | €6000 |
| Picotin Micro | Ostrich | €6450 | €7350 |
| Picotin 18 cm | Clemence | €2380 | €2490 |
| Picotin 22 cm | Clemence | €2550 | €2700 |
| Garden Party 30 | Negonda | €2900 | €3100 |
| Garden Party 36 | Negonda | €2800 | €3250 |
| Herbag Zip 31 cm | Quadrille/Hunter | €2170 | €2600 |
| Della Cavalleria Mini 18 cm | Epsom | €4650 | €4950 |
| 24/24 Mini | Evercolor/Swift | €6750 | €7200 |
| Sac A Dos Off Piste | Epsom | €6100 | €6850 |
| Cabas H 40 | Canvas/Swift | €2750 | €2950 |
How the Hermès Price Increase Will Impact the Secondary Market
The Hermes price increase has had a major impact on the secondary market, specifically the Birkin and Kelly models.
Continued Demand for Investment Pieces
Hermès bags, especially the Birkin and Kelly, are considered investment pieces that hold their value well in the secondary market. The strong demand and limited supply will most likely lead to even more growth in the pre-owned market for these iconic styles.
Shift Toward Lower-Priced Luxury Goods
With the price increases, some consumers may prioritise spending their money on “affordable” luxury goods. For example, instead of buying a pre-owned $5,000 Chanel handbag, they may opt for a $2,500 Wallet on Chain. This “lipstick effect” is seen in the luxury resale industry each time there is economic uncertainty.
Tipping Point for Consumer Pushback
It’s also possible that Hermès and other luxury handbag brands will reach a tipping point where consumers start pushing back on the price increases. If this happens, it could lead to a drop in demand in both the retail and resale markets. Of course, the ultra-wealthy will still continue to demand the most rare and exclusive Hermès handbags.
Hermès Dominates the High-End Market
Despite the price increases, Hermès still dominates the high-end luxury handbag market. Chanel’s prices have reached levels close to Hermès in recent years, but its bags still fetch less on the secondary market. Even Louis Vuitton still struggles to sell significant amounts of handbags priced above $4,000.
Why Did Hermès Increase Their Prices?
According to the brand’s official statement, Hermès increased its prices in response to global inflation. The price surge was a strategic move by Hermès to address the rising costs of raw materials and labor. Plus, we all know that the global market is also experiencing major inflation.
Conclusion
The Hermès price increase has added a new dimension to the resale market. With the right knowledge, you can find quality pre-owned pieces at competitive prices. If you, too, want to get your hands on a more affordable Hermès item, you should have a look at some pre-loved stuff.
