March 2022 Newsletter

The Spring 2022 Auction Schedule is Filling Up!

The Spring 2022 auction season is well underway, with new auctions popping up on the calendar almost weekly. In addition to our seasonal Market Reports, Bag Watch will start a series of monthly newsletters detailing upcoming auctions, lots of interest, and recent results. These will also link to articles I’ve written recently, and to the auctions and lots themselves.

Upcoming Auctions -

Artcurial: Paris Online, March 4 - March 10

• This auction has a lot of vintage and heavily used bags, typical of European auctions. There are also some exciting rare home pieces which can be very difficult to find in the US.

Christie’s: Hong Kong Online, March 3 - March 15

• Seemingly in a move to separate out larger, lower value, and less collectible bags from their signature Hong Kong live auctions, which set the standard for handbag auctions around the world, Christies offers us a here a wide selection of leathers and larger sized exotics that will likely not go high in a Hong Kong based auction. A 2012 Hima 30 will be a telling result for the current health of the jet-fueled Hima market. While small leather bags and desirable new styles like Sellier Birkins and bags bearing Rose Gold hardware are sprinkled throughout the auction, the Kelly Bandeau is by far the rarest piece on offer.

Sotheby’s: Chanel Auction, New York Online, March 8 - March 17

• Sotheby’s is offering a large selection of rare vintage Chanel pieces ranging from bags to jewelry to clothes and sporting goods.

Heritage: Dallas Online, April 9 - May 1

• As of this writing Heritage has yet to publish all the lots in their April auction.

Notable upcoming lots -

• Rouge Piment 32cm Berline Kelly - Christie’s March 15

  • The Berline line, which is mainly Constances and Kellys, has been in light production for a few years now, with more brightly colored examples coming to market recently. This is the first Rouge Piment version to come to auction. What makes the Berline Kelly so special is not just the colorful coated canvas body, but mainly the rear exterior slip pocket, which transforms the bag’s functionality. This feature is very rarely found on vintage Box Kellys as well.

• Biscuit Swift Kelly Bandeau - Christie’s March 15

  • The Kelly Bandeau, which first appeared on Jean-Paul Gaultier’s runway show for Hermes, can be worn around the waist, but was most notably worn by models on the runway as a makeshift tube top. Only one other example has come to auction in the last decade, and the style, when it rarely surfaces, has been known to trade privately for upwards of $25,000, making the roughly $1,200-$2,000 estimate seem like the underestimation of the season.

• Black Box and Officier Toile 40cm Kelly Lakis - Artcurial March 10

  • What makes this bag special is its gold hardware. Lakis Kellys in canvas are liked for their lighter weight, though it is quite rare to find any Lakis with gold hardware. The finish is particularly striking on the zippers and the black and gold combination could not be more classic.

• Matte Ciel Alligator 35cm Birkin - Christie’s March 15

  • Considering the current craze for Vert d’Eau, this decade-old forerunner to the minty pastel deserves a tip of the hat. Matte Ciel has magically managed to resist yellowing over the years and today appears as delicate and sublime as ever.

• Matte Indigo Alligator 28cm Jypsiere - Christie’s March 15

  • Jypsieres, designed by JPG as a “crossbody Birkin'“ have not held onto the popularity they once had, though this 28cm example is exceptional. Exotic Jypsieres are quite rare and in my opinion look fantastic in Alligator.

• Poudre, Poussiere and Blue Jean Porosus Crococdile 32cm Kelly - Christie’s

  • This gorgeous tri-color Kelly from 1998 displays a lovely combination of colors that I have never seen before. Ordering a Tri-color exotic bag is impossible at Hermes today, and examples on the secondary market are rare and often less appealing than this.

Past Auctions -

Sotheby’s Paris Online, March 3

• A small auction consisting of mostly leather bags saw high results for desirable new shades like a Vert Criquet Swift Birkin 25 GHW that brought $30,150, but more notable for the nearly $45,000 paid for a 30cm Gold Togo Birkin PHW, which is one of the highest prices ever paid for a ‘regular’ leather Birkin or Kelly

Sotheby’s London Online, February 10

• Another small, leather heavy auction that saw the first Blue Egee Cargo Birkin sell for just over $38,000, a tad below the style’s prior $43,000 auction average.

Heritage: Dallas Online, February 13

• A relatively small auction with some substantial rarities (Framboise Fray Birkin 35, Dalmatian Kelly 32, Golf Kelly 28) that all brought less than substantial prices ($22,500, $21,250 and $20,000 respectively). A Chocolate Doblis and Swift Birkin 25 from 2006 made a strong showing achieving $30,000. Doblis Birkins have become highly sought-after, though examples with Swift handles are less desirable.

Artcurial: Monte Carlo, January 19

• This auction had a number of exciting pieces. A 35cm Picnic Kelly brought almost $45,000, though the most unqiue piece was a 35cm Doblis Birkin in Saffran from 2001 which brought just under $20,000, a surprisingly low price for an all-suede Birkin. A 30cm Dalmatian Birkin from the same year brought close to $51,000, further pushing the value of these rare bags upward.

Notable Sold Lots -

• Framboise Fray Birkin $22,500 - Heritage February 13

  • This is the lowest result for the new Fray Birkin which has come to auction only two times so far. Prior to this result the average auction price for this style was just over $30,000.

• Blue de Prusse 28cm Kelly Golf $20,000 - Heritage February 13

  • This is only the third time a Kelly Golf has come to auction, and the first time since 2017 with the other two examples averaging around $32,000. A surprising low price for an extremely rare bag.

• Gold Togo 30cm Birkin $44,755 - Sotheby’s March 3

  • This is a staggering result for any leather bag, let a long a Gold Togo Birkin 30 with Palladium hardware. Despite being from 2021, this result is unexpectedly high though follows a recent trend in record-breaking prices paid for store-fresh Gold bags.

• Black Porosus Kelly 20 $44,185 - Artcurial January 19

  • As the new mini-Kelly 20 II has taken the auction market by storm, vintage 20cm Kellys have become scarce. This result is in line with current averages for the style, though trends indicate they won’t remain at this level for much longer.

• Dalmatian Birkin 30 $50,815 - Artcurial January 19

  • Dalmatian Birkins and Kellys have a history of occasionally achieving astronomical sums at auction, though not with any regularity. Considering the current desire for special vintage pieces, this high result is likely just the beginning of the Dalmatian’s resurgence.

• Saffran Doblis Birkin 35 $19,885 - Artcurial January 19

  • Doblis Birkins have become highly coveted by collectors, with examples very rarely coming to market, making this result surprisingly low considering the bag’s exceptional color.

Article Round Up -

Top 10 Most Expensive Hermès Colors Ranked By Resale Value

Originally Published with Sotheby’s on January 26

Top 5 Things to Consider When Valuing an Hermès Birkin or Kelly Bag

Originally published with Sotheby’s on February 7

The Five Most Popular Hermès Leathers

Originally published with Sotheby’s on February 16

Hermès Mini Kelly Mania

Originally published with Sotheby’s on March 1