Hermès Resale Asking Prices Versus Boutique Prices
Updated on 2026-10-19
How far above or below the US boutique price each Hermès bag is listed on the resale market, by size and condition
As of October 2026, across about 11,000 classic-leather resale listings, a pristine Birkin 25 is listed at a median of 2.33 times its reported US boutique price of US$13,500 and a pre-owned one at 2.07 times. The Mini Kelly 20 shows the widest gap (2.94 times pristine, 2.72 times pre-owned; the resale size 20 also includes other 20 cm Kelly bags). Most pre-owned Birkin 40, Picotin 22, Lindy, Garden Party 36 and Herbag Zip 31 listings ask less than a new bag costs in a US boutique. These are asking prices, not sale prices.
Each figure on this page divides a median resale asking price by the US boutique price before tax that price trackers reported for the same bag and size. Hermès publishes no price list for its Birkin, Kelly or Constance bags. Every boutique price here is a dated report from a public source. A bag without one is left out rather than estimated. MyQuotaBag is independent and not affiliated with Hermès.
A few things worth knowing
- Small sizes carry the largest premiums: the pre-owned Birkin falls from 2.07:1 at size 25 to 0.93:1 at size 40 and the pre-owned Kelly from 2.72:1 at size 20 to 1.09:1 at size 32.
- Condition matters more as bags get larger: a pristine Birkin 35 is listed at 2.06:1, a pre-owned one at 1.12:1.
- Age may explain part of the size effect: most pre-owned Birkin 30 and 35 listings that name a year were made before 2018. Within the same age band, smaller sizes still ask more.
- Bright colors ask less than black, gold and other neutrals in pre-owned condition.
- Exotic skins ask far more in dollars but less as a multiple of their own boutique price.
- Outside the Birkin, Kelly and Constance, bags such as the Picotin, Evelyne, Lindy, Garden Party and Herbag are listed near or below retail once used.
Community insights currently come from public research and community reports, not private MyQuotaBag user data. Any future use of user data will be anonymized, aggregated and controlled through the app's privacy settings. How this data is built
MyQuotaBag is an independent app and is not affiliated with Hermès International or any of its affiliates. This page summarizes public reports from collectors and publishers. It is not verified fact and states no Hermès rule. Each boutique and country works differently and practices change. These are general observations shared without commitment. We do not claim that pre-spend exists or that any amount is required. Collectors describe bags going to established clients who buy over time, come back and build a relationship with their boutique. No outcome, offer or allocation is predicted or guaranteed.
On this page
Birkin, Kelly and Constance: listed above retail
A ratio of 2.00:1 means the median listing asks twice the US boutique price, a premium of 100 percent. Below 1.00:1, the median listing asks less than the boutique price. Medians cover classic leathers: standard leathers, Retourné and unspecified construction together. Sellier, special orders and exotic skins are counted apart.
| Bag | US boutique price | Pristine median | Pristine ratio | Pre-owned median | Pre-owned ratio | Pre-owned listings |
|---|---|---|---|---|---|---|
| Birkin 25 | US$13,500 (Jan. 2026) | US$31,500 | 2.33:1 (+133%) | US$27,900 | 2.07:1 (+107%) | about 520 |
| Birkin 30 | US$14,900 (Jan. 2026) | US$31,500 | 2.11:1 (+111%) | US$21,800 | 1.46:1 (+46%) | about 1,200 |
| Birkin 35 | US$16,300 (Jan. 2026) | US$33,500 | 2.06:1 (+106%) | US$18,200 | 1.12:1 (+12%) | about 1,140 |
| Birkin 40 | US$20,300 (Jan. 2026) | US$34,500 * | 1.70:1 (+70%) | US$18,800 | 0.93:1 (-7%) | about 120 |
| Mini Kelly 20 | US$11,400 (Jan. 2026) | US$33,500 | 2.94:1 (+194%) | US$31,000 | 2.72:1 (+172%) | about 140 |
| Kelly 25 | US$13,700 (Jan. 2026) | US$34,800 | 2.54:1 (+154%) | US$27,800 | 2.03:1 (+103%) | about 230 |
| Kelly 28 | US$14,400 (Jan. 2026) | US$28,500 | 1.98:1 (+98%) | US$20,600 | 1.43:1 (+43%) | about 440 |
| Kelly 32 | US$13,500 (Jan. 2025) | US$27,000 * | 2.00:1 (+100%) | US$14,700 | 1.09:1 (+9%) | about 540 |
| Constance 18 | US$9,700 (2025) | US$16,700 | 1.72:1 (+72%) | US$12,000 | 1.24:1 (+24%) | about 340 |
\* Fewer than 20 pristine listings: read as an indication.
The Kelly 32 and Constance 18 boutique prices date from 2025 and predate two US increases (May 2025 and January 2026); at today's price, the pre-owned Kelly 32 may ask less than retail. Boutique prices are Togo for the Birkin, Epsom for the Mini Kelly 20 and the Constance 18, Togo Retourné or Epsom Sellier for the Kelly 25 (same price) and Togo or Epsom for the Kelly 28. For the Kelly 28, the January 2026 report gives US$14,400 in its table and US$15,400 in its text; at US$15,400 the ratios become 1.85:1 pristine and 1.34:1 pre-owned. The Kelly 32 and Constance 18 prices are the latest we could source (2025): if they rose in January 2026, as most bags did, their true ratios are a little lower. The Constance 24 price comes from a single retailer guide.
Comparing each bag only with listings in the leather of its boutique price (Togo Birkin, Epsom Mini Kelly) moves most ratios by less than 0.20. The pristine Kelly 25 drops from 2.54:1 to 2.37:1 in Epsom alone while the pristine Mini Kelly 20 rises to about 3.1:1 in Epsom.
Other Hermès bags: near or below retail once used
| Bag | US boutique price | Pristine median | Pristine ratio | Pre-owned median | Pre-owned ratio | Pre-owned listings |
|---|---|---|---|---|---|---|
| Picotin 18 | US$3,975 (Clemence) | US$6,100 | 1.53:1 (+53%) | US$4,500 | 1.13:1 (+13%) | about 1,670 |
| Picotin 22 | US$4,275 (Clemence) | US$6,200 | 1.45:1 (+45%) | US$4,200 | 0.98:1 (-2%) | about 600 |
| Evelyne 16 (TPM) | US$2,525 (Clemence) | US$4,200 | 1.66:1 (+66%) | US$3,300 | 1.31:1 (+31%) | about 550 |
| Evelyne 33 (GM) | US$4,850 (Clemence) | not enough listings | US$2,700 | 0.56:1 (-44%) | about 160 | |
| Mini Lindy 20 | US$9,050 (Clemence) | US$12,000 | 1.33:1 (+33%) | US$8,600 | 0.95:1 (-5%) | about 120 |
| Lindy 26 | US$11,200 (Swift) | US$10,900 * | 0.97:1 (-3%) | US$7,200 | 0.64:1 (-36%) | about 70 |
| Garden Party 36 | US$5,150 (Negonda) | US$5,700 * | 1.11:1 (+11%) | US$3,300 | 0.64:1 (-36%) | about 690 |
| Herbag 20 | US$3,200 (canvas, Vache Hunter) | US$5,800 | 1.81:1 (+81%) | US$4,200 | 1.31:1 (+31%) | about 110 |
| Herbag Zip 31 | US$3,525 (canvas, Vache Hunter) | US$4,800 * | 1.36:1 (+36%) | US$2,800 | 0.79:1 (-21%) | about 390 |
All boutique prices in this table are January 2026 US reports. For the Kelly 28, Evelyne 33, Lindy 26, Garden Party 36 and Herbag 20, the report gives a single figure, possibly set before the January increase. The Lindy 26 price is ambiguous in its source, which also prints US$12,800 for Clemence. Several sizes have no sourced US boutique price and stay out of the ratios: Kelly 35, Evelyne 29 (PM), Lindy 30 and 34, Picotin 14 and 26, the full-leather Garden Party 30, Bolide 27 and 31 and Jypsière 28.
What drives the gap
Size. The smaller the bag, the higher the ratio, in every family we track. This matches what Sotheby's wrote in February 2025: the premium above retail declines as the bag gets larger and its date stamp older.
Age, which hides behind size. Among pre-owned Birkin 30 listings that name a year, more than half were made before 2018; for the Birkin 35 the share is close to nine in ten. Older bags ask less, so larger sizes look weaker partly because their resale stock is older.
| Pre-owned Birkin 25, year made | Median asking | Ratio to US$13,500 | Listings |
|---|---|---|---|
| 2025 to 2026 | US$31,000 | 2.30:1 | about 100 |
| 2022 to 2024 | US$30,000 | 2.22:1 | about 80 |
| 2018 to 2021 | US$26,100 | 1.93:1 | about 60 |
| Before 2018 | US$23,400 | 1.73:1 | about 60 |
Condition. For a Birkin 25 or a Mini Kelly 20, pristine and pre-owned listings sit close together. For a Birkin 35, the pre-owned median is little more than half the pristine one.
Color. In pre-owned condition, bright colors ask clearly less. A pre-owned Birkin 25 in black or gold is listed at 2.25:1, in another neutral at 2.22:1 and in a bright color at 1.77:1. For the Birkin 30 the same three groups give 1.71:1, 1.69:1 and 1.36:1. For the Birkin 25, pristine bags show a smaller gap.
Leather. Within the same bag, size and condition, the median asking price in Epsom is about the Togo level (1.02 times), Swift slightly above (1.07 times), Clemence and Chèvre lower (0.87 times) and matte alligator about 2.6 times. Measured against their own boutique price, exotic skins carry a smaller premium: a pristine matte alligator Birkin 25 is listed at about 1.55 times its reported US$57,900 boutique price, against 2.29 times for Togo.
Hardware. Our resale aggregates do not yet separate gold and palladium hardware, so this page makes no claim about it.
US boutique prices, 2020 to 2026
Reported US prices rose every year from 2022 to 2026, with an extra US increase in May 2025. A rising boutique price lowers every ratio on this page when resale asking prices stay the same.
| US boutique price | 2020 | 2021 | 2022 | 2023 | 2024 | Jan. 2025 | May 2025 | Jan. 2026 |
|---|---|---|---|---|---|---|---|---|
| Birkin 25 Togo | US$9,850 | US$9,850 | US$10,100 | US$10,400 | US$11,400 | US$12,100 | US$12,700 | US$13,500 |
| Birkin 30 Togo | US$11,000 | US$11,000 | US$11,300 | US$11,600 | US$12,500 | US$13,300 | US$13,900 | US$14,900 |
| Kelly 25 Togo Retourné | US$11,300 | US$12,000 | US$13,700 | |||||
| Kelly 32 Togo Retourné | US$12,000 | US$13,500 | not sourced | |||||
| Constance 18 Epsom | US$8,950 | US$9,700 | not sourced |
From 2020 to January 2026, the reported US price of a Birkin 25 in Togo rose by about 37 percent. Just before the January 2026 increase, the Kelly 25 Togo Retourné was reported at US$12,600, the Mini Kelly 20 Epsom at US$10,500, the Picotin 18 at US$3,725 and the Evelyne 16 at US$2,425.
Frequently asked questions
Are Hermès Birkin bags listed above the boutique price?
Mostly yes in small sizes. As of October 2026, the median pre-owned Birkin 25 is listed at 2.07 times its US$13,500 boutique price, the Birkin 30 at 1.46 times and the Birkin 35 at 1.12 times. The median pre-owned Birkin 40 asks slightly less than retail.
Which Hermès bag has the highest asking premium over retail?
Among the bags we track with a sourced boutique price, the Mini Kelly 20: about 2.94 times its US$11,400 boutique price pristine and 2.72 times pre-owned.
Which Hermès bags are listed below retail?
In pre-owned condition, the median listing asks less than the US boutique price for the Birkin 40, Picotin 22, Evelyne 33, Mini Lindy 20, Lindy 26, Garden Party 36 and Herbag Zip 31.
Are these the prices bags actually sell for?
No. They are asking prices on public resale listings. Sale prices are usually lower and are not public for most private resales.
Where do the boutique prices come from?
From dated reports by price trackers and auction-house articles, listed below. Hermès does not publish a price list for these bags and prices vary by leather, construction and country.
How often is this updated?
Resale listings are read every day and the aggregates are refreshed weekly. Boutique prices change when a new dated report confirms them.
References
- MyQuotaBag resale asking-price aggregates, snapshot of October 18, 2026; leather classification of October 19, 2026.
- PurseBop, "New US Hermès Prices 2026", January 7, 2026, read October 19, 2026.
- PurseBop, "US Hermès Price Increase 2025: Here Are the New Prices", January 6, 2025, read October 19, 2026.
- PurseBop, "The Birkin Surge: Tracking Five Years of Price Increases in the US and EU", July 11, 2024, read October 19, 2026.
- Sotheby's, "Hermès Raises the Birkin Bag Price: What You Need to Know", January 21, 2026, read October 19, 2026.
- Sotheby's, "Higher Hermès Bag Prices in 2025: What You Need to Know", May 27, 2025, read October 19, 2026.
- Sotheby's, "Secondary Market Signals After Hermès Impressive 2024 Results", February 19, 2025, read October 19, 2026.
- Fortune, report on Bernstein's secondhand pricing tracker for Birkin and Kelly bags, December 17, 2025, read October 19, 2026.
- AFP reporting on the Sotheby's Paris sale of the original Birkin bag, July 11, 2025, read October 19, 2026.
About this guide
MyQuotaBag gathers what Hermès, auction houses, the press and collectors publish, says where they disagree and adds what its own resale data shows. Resale figures are public asking prices, not confirmed sales or valuations of any bag.
MyQuotaBag is independent and is not affiliated with or endorsed by Hermès.
How to cite: MyQuotaBag, « Hermès Resale Asking Prices Versus Boutique Prices », Hermès Reference, 2026-10-19. https://myquotabag.com/myquotabag-data/resale-vs-retail/