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When it comes to Hermes Birkins and Kellys, two hardware finishes dominate the field; Gold and Palladium. Other hardwares can certainly be found are often valued higher by collectors. These include Brushed, Guilloche, Ruthenium, Permabrass, Rose Gold and PVD hardware. These other hardwares, though, in total, account for less than 7% of the Hermes auction market, while Gold hardware takes up over 40% and Palladium the lion’s share with over 52%. For clarity, in this article when Gold and Palladium are capitalized, I am referring to the hardware, when they are not, I am referring to the metal itself.
Over the years, Gold has reliably averaged more than Palladium at auction, possibly owing to its relative rarity, or to other cultural factors. Gold's allure across cultures stems from its brilliance and resistance to corrosion, symbolizing immortality and power. In ancient Egypt, it represented the flesh of gods. Ancient Greeks and Romans used gold as currency and as luxury items. In Asia, it adorned temples, and in Africa, it decorated leaders' courts and served ceremonial purposes. Pre-Columbian Americas associated gold with solar deities and rituals. In Europe, it was pivotal in religious artifacts and regalia, signifying divinity and authority, and even had medicinal uses. This multifaceted significance of gold underscores its enduring cultural importance and likely accounts for the hardware’s persistent preference over Palladium.
Palladium, a silver-white metal part of the platinum group, was discovered in 1802 by chemist William Hyde Wollaston. Named after the asteroid Pallas (are any of my readers fans of The Expanse series?), palladium shares similarities with platinum but is softer and less dense. It gained initial use as a treatment for tuberculosis but later fell out of favor due to side effects. In the modern era, palladium's primary use is in the auto industry, specifically in catalytic converters. At Hermes, Palladium hardware is made on a brass base which is initially plated with a 1µm thick layer of silver, followed by a 2µm thick layer of palladium, whereas Gold hardware is brass directly plated with a 3µm thick layer 18-carat, or in special circumstances, 23.5-carat gold.
There has been a noticeable increase in the popularity and valuation of Palladium hardware. This could be attributed to shifting fashion trends and a growing appreciation for the modern, sleek look that Palladium offers. The trend towards minimalism in fashion may also play a role in this shift, as consumers lean towards understated luxury. While Gold hardware tends to lend warmth to the bag it adorns, Palladium is often cooling. This can lead to vastly different vibes for two of the same bags with different hardwares.
Though Gold hardware typically averages more than Palladium, there is one notable exception that doesn’t always follow this rule. Sellier Kellys have no set favorite for hardware, with the upper average vacillating between Gold and Palladium regularly throughout the years. For Birkins and Retourne Kellys, Palladium has never overtaken Gold. So far in 2023, though, the average difference is smaller than it has been in over seven years at just $922. Could this represent a shifting of trends as Y2K style becomes more en-vogue? Palladium Hardware was first introduced for Birkins and Kellys in 1996, though rare earlier examples have been found, for example, on the ultra-rare Patent Leather Kellys from the 1960s. This lends Palladium hardware an air of modernity while Gold is typically seen as more classic.
Interestingly, consumer preferences for hardware can vary significantly across different regions and demographics. For example, in markets where traditional luxury is highly valued, Gold hardware remains the preferred choice. However, in regions where fashion-forward and contemporary styles are more prevalent, Palladium hardware sees higher demand. Understanding these regional preferences is crucial for Hermes in catering to their diverse clientele, ensuring that their offerings resonate with the cultural and aesthetic tastes of their customers.
The choice between Gold and Palladium hardware on Hermes Birkins and Kellys is more than a matter of mere aesthetics; it reflects a complex interplay of cultural significance, fashion trends, and consumer preferences. As the market dynamics continue to evolve, the small yet significant variations in the popularity and value of Gold and Palladium hardware will be fascinating to observe. The enduring allure of these metals, whether in the form of ancient artifacts or modern luxury goods, underscores their timeless appeal and the continual fascination they hold in the world of collectible Hermes bags.