Why Birkins Are So Expensive
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Ranging from $9000 to half a million dollars, you may be wondering why a bag costs so much money. Well, to begin, Hermes Birkin bags were established in 1984 by Paris-based British actress, Jane Birkin. Birkin carried a wicker bag everywhere and used it for everything. When Birkin spilled contents out of her bag while trying to fit it in the overhead compartment of the plane, she complained to her seatmate how she wished for a better bag. This sparked conversation with the Hermes chief executive, Jean-Louis Dumas who happened to be sitting next to her on the plane from Paris to London. Dumas suggested an ideal bag would be with pockets. Birkin sketched her needs in functionality and design for a bag with Dumas for the rest of the plane ride on an airplane sick bag. A year later, Dumas showed Birkin the bag named after her and the rest is history.
JANE BIRKIN WITH HUSBAND SERGE GAINSBOURG/GETTY IMAGES
The bag is spacious and provides pockets, a seal on the top for closure, sporty handles, four studs on the base, and elegant, premium materials like alligator skin, calf skin, and ostrich skin to make up the fabric. Additionally, the hardware is made up of white gold and sometimes diamonds depending on the style purchased. The material of the bag is a rarity and is not cheap for purchase. Each bag is stitched and put together entirely by hand, making it even more rare to physically get your hands on since there is limited quantity. The bag has no logos and is only recognizable to those who are familiar with the Birkin style. Artisans go through years of training before they are allowed to make a Birkin- that is how tedious the process is.
At first, the bag was not too much of a hit. It wasn’t until the 90’s where the bag took off and was the most sought-after bag. The value of a Birkin has increased throughout 35 years by 500 % according to a 2017 study. People that invest in a Birkin obviously admire the art and may wear it, but it is also an investment for a collectible that someone will buy for more than the price you originally paid because of its beauty and rarity even if you have worn it a few times.
Now, instead of a waitlist, there is a wishlist list. You have to be offered a Birkin in order to get one. They give you no preference color or size to choose from, it is a “you get what you get and you don’t get upset” kind of thing. There are some retailers that sell them above the original price such as The Real Real, an online luxury reseller, and Privé Porter, another online retailer that uses Instagram and WhatsApp to sell bags. Definitely be on the lookout for prices that are too good to be true because chances are they are copies.
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Victoria Beckham reportedly has a collection of 100 Birkin bags, worth approximately over $2 million. Jamie Chua, a Singaporean socialite and entrepreneur, has over 200 Birkin bags. Kanye West bought Kim Kardashian a $40,000 Birkin that was custom-painted by George Condo with the My Beautiful Dark Twisted Fantasy album cover on it. Kylie Jenner has a collection of 400 bags consisting mostly of Birkins. Jefree Star has a wall lined with Birkin bags, one of them being the Hermès Niloticus Crocodile Himalaya Birkin which is reported to be worth $379,200. Drake bought Birkins worth over $300,000 for his future wife. Evidently, these bags are one of a kind and worth a boat load of money.
With the supply and demand, the ratio is quite off being that there is not enough supply to contribute to the demand. The exclusivity of Hermès bags only makes us want it more, so all the credit to you, Hermès, for a beautiful product and excellent marketing.
