For decades, the 35cm Birkin was the size to have. Its larger 40cm sister, a highly prized rarity. Bigger is better, right? After all, if the 40cm Birkin retails for more, it should also sell for more on the secondary market, right? This may have been the case up until 2015, when the auction market grew thanks to Christie’s grand entrance, along with fashion trends shifting notably towards smaller and smaller bags. Since then the average value of these Birkins at auction (regular leather examples only, no HSS, exotics, or Limited Editions) has oscillated between $7,500 and $10,500, but 2021 has so far hinted at a change. The 16 examples sold this year have averaged over $12,600, a valuation not achieved since 2014.
Exotic 40cm Birkins tell a different story. The trends for these crocodile and alligator bags are crystal clear. Managing to maintain average values above $50,000 before 2015, exotic 40s took a dip in 2016, dropping into the $30,000 range before declining to an all-time low average of just over $25,000 in 2018. Since then, values have been rising slightly, with 2020 clocking in at over $33,250 on average. The single example sold so far in 2021, though, brought only $27,500, so we will have to wait and see if the trend on these bags is indeed reversing.
Exceptional Examples:
Hermes Unique Black Swift Birkin 40 with Raffia and Palladium Hardware, 2000 - Artcurial July 19, 2019 - $14,872
Hermes Black Lizard Birkin 40 with Palladium Hardware, 2017 - Heritage Auctions June 10, 2018 - $57,500
Hermes Blue Marine Porosus Crocodile Birkin 40 with 18K White Gold & Diamond Hardware, 2012 - Christie’s June 10, 2019 - $111,331
Hermes Parchemin Doblis Suede Birkin 40 with Gold Hardware, 1986 - Artcurial June 4, 2020 - $33,470
Hermes Matte Chocolate Porosus Crocodile & Toile Birkin 40 with Brushed Palladium Hardware, 2007 - Christie’s June 9, 2021 - $43,750