We are no longer surprised when a designer Hermès bag racks up to a six-figure sum. After all, it is Hermès (duh) and their bags are known for growing in value over time.
And recently the Hermès “Togo Birkin 35 Blue Cobalt” bag broke a new record in Mzansi as the most expensive second-hand bag.
The Birkin bag, retailing for R200,000, is typically only seen on the arms of the fortunate few.
Previously, a Hermès Birkin was sold for R3m in the UK. The 2015 Himalaya Niloticus Crocodile Birkin was embellished with white gold hardware and 200 18-carat diamonds, while the leather was made from an ultra-rare albino crocodile hide.
It is arguably the rarest and most spectacular Birkin ever made.
According to Luke Calitz, owner and founder of Luxity, one of the reasons why Hermès’ bags cost a fortune is because there is a limited number produced every year and a non-public three-year waiting list from Hermès stores, none of which are on the continent.
He said this exclusivity means that for most people, the only way to purchase one is to wait until a bag becomes available in the pre-owned market.
“We might be lucky enough to sell one Hermès bag a year, so when they are uploaded to the website, they are snapped up in a heartbeat. Also, the Hermès on our site might be the only one for sale on the continent,” said Calitz.
Calitz said the aspect that most don’t think about when it comes to luxury items is their potential for resale and investment.
“Currently, we’re compiling information about the investment opportunities of items like this in the local market, as these bags are appreciating assets,” said Calitz.