Christie’s Hong Kong Achieves Historic Total
The secondary market for high-end handbags continues to surge, underscored by Christie’s Hong Kong Handbags & Accessories Sale last November, which achieved a record-breaking US$7.83 million during Luxury Week Autumn Sale. The total marked the highest ever seasonal result for the category in Asia and represented a 25 percent increase year on year.
The auction was 93 percent sold by lot, with hammer prices reaching 136 percent above low estimates. More than 60 percent of lots exceeded their high estimates, reflecting intense multi-channel bidding and strong global appetite for rare and collectible pieces.
Hermès Dominates with World Records
Two new world auction records were established during the sale. A rare white Hermès Faubourg Birkin achieved US$491,674, while an Hermès Quelle Idole realized US$360,561. Both results surpassed previous benchmarks set earlier in 2025, further reinforcing Hermès’ standing as the most coveted name in luxury handbags.
Bidding participation came from 24 countries across four continents. Millennials and younger buyers accounted for 75 percent of new clients, and more than half of all buyers placed bids online, highlighting the growing digital engagement shaping the resale landscape.
Resale Data Confirms Hermès Leadership
According to Rebag’s 2025 resale report powered by the Comprehensive Luxury Appraisal Index for Retail, Hermès reclaimed the top position in value retention. The brand recorded an average retention rate of 138 percent, a 38 percent year-over-year increase.
Eight Hermès styles sold above their original retail value in 2025. The Kelly Mini II led with a remarkable 282 percent retention, followed by the Birkin Sellier at 183 percent and the Constance at 137 percent. Core designs including the Kelly, Birkin, Evelyne, Constance To Go and Picotin each maintained retention above 110 percent.
Shopping restrictions limiting customers to two quota bags per year and one registered address per household further tightened supply, contributing to rising premiums in the secondary market.
Tariffs and Scarcity Drive Demand
Global tariff adjustments in 2025 pushed up primary market prices across handbags, watches and fine jewellery. As retail costs climbed, more consumers turned to resale platforms for access and perceived value stability. Since 2015, Birkin retail prices have increased 43 percent, while resale values surged 92 percent, underscoring the brand’s long-term performance.
Other labels also benefited from strong demand. Goyard achieved a 132 percent retention rate, while The Row entered the “unicorn” category with retention above 85 percent. Renewed interest in Louis Vuitton’s collaboration with Takashi Murakami triggered a 500 percent spike in searches, with top pieces exceeding 130 percent resale value.
Expert Insight from Christie’s
Winsy Tsang, Head of Handbags & Accessories at Christie’s Asia-Pacific, attributes the surge to scarcity, waiting lists and enduring design appeal. She notes that when retail supply cannot meet demand, collectors increasingly rely on auction houses that provide authentication guarantees and specialized expertise.
Tsang highlighted the Faubourg Birkin’s craftsmanship and inspiration from Hermès’ historic Paris flagship at 24 Rue du Faubourg Saint-Honoré. Its intricate detailing and distinctive white finish contributed to its exceptional result.
As resale platforms expand and younger collectors enter the market, luxury handbags are increasingly viewed not only as fashion statements but as appreciating assets with measurable investment appeal.
