Would you pay US$200,000 for a second-hand Hermès Birkin handbag? Here’s how you can buy one
They are up there with gold as an investment and in these uncertain times the fashion set are rushing to put their money in Hermès Birkin handbags
It’s typical that in a bear market, people begin to put their money in more stable investments – and if there’s one thing that the fashion set guarantees will hold its value, it’s the Hermès Birkin.
This elusive and coveted accessory has long fascinated those who care about style, but besides being a status symbol, some say this holy-grail handbag might be a less volatile buy than stock in the latest unicorn start-up. Which drives the question – how does one actually acquire one of these bad boys, much less one of the rare and limited-edition models that, released at the right time, can garner record-breaking, news-making returns?
If you’re a boutique regular, the Hermès store will be your first port of call. It’s a truth universally accepted that customers must prove their mettle with other in-store purchases in order to be granted access to any Birkin being held on site, though for first-time Birkin buyers, the choices of colour and finish might not be ideal.
According to Lolo Brown, who makes regular purchases at Hermès boutiques around the globe during her travels, having a strong relationship with your sales assistant will get you further than rampant buying, if you are looking for a very specific style. “They do look at the record of what you’ve bought, of course, but if you get along with the sales assistants and have regular contact with them, they’re more likely to help you find what you want than if you were to walk into a boutique in which you’re not already a familiar face,” she says.
For some, this long game is part of the fun of the chase. But not everyone has the time or interest to invest in relationship building. In which case there are easier – though perhaps pricier – ways to acquire one.
In a city like Hong Kong, where everyone has a “guy” on speed dial for everything, from a wine supplier to a handyman, it’s not unusual to source through private dealers. These personal shoppers often take advantage of cross-border price arbitrage to offer Birkins sourced in Europe to collectors at highly competitive prices, as well as a large inventory of other Hermès items they’ve garnered in the quest to gain access to more unusual stock.
“Some clients might send us photos of what exactly they want and we can try to help them to find it, or else we also give them options of what we have and what could we find at that moment,” explains Ellen Yan, one such seller.