Why prices of the world's most expensive handbags keep rising

A Bonhams auction house employee displays a Hermès Bambou Swift leather Birkin 25, left, and a Bottega Veneta parakeet green lambskin Mini Jodie that were up for auction in London last month. (Image: AP)

The Wall Street Journal

Sat, 09 Mar 2024

By Carol RyanThe price of a basic Hermès Birkin handbag has jumped US$1,000 (NZ$1,620). This First World problem for fashionistas is a sign that luxury brands are playing harder to get with their most sought-after products.Hermès recently raised the cost of a basic Birkin 25-centimetre handbag in its US stores by 10% to US$11,400 before sales tax, according to data from luxury handbag forum PurseBop. Rarer Birkins made with exotic skins, such as crocodile, have jumped more than 20%. The Paris brand says it increases prices on...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}