Why Hermes Bags are Expensive in 2023?
Hermes bags are expensive. They are one of the most expensive handbags on the market. Prices on average are $10,000 and can go all the way up to a $200,000 for an exotic leather bag. There are 5 main reasons why Hermes bags are expensive, which include the prestigious Hermes name, the supply and demand issue, artisans have to train for years to be qualified to sew a bag by hand, and the high quality leather!
The Hermes name
One of the main reasons Hermes bags are so expensive is because you are paying for the prestigious Hermes name. Many people associate owning a Hermes bag as a status symbol and the ultimate prize in their handbag collection. Due to the prestigious Hermes name, they can demand a pretty penny for their coveted handbags. Prices for a Hermes Birkin start at $10,000 and Hermes Kelly bags start at $8,700. Shop Hermes bags
Supply and Demand
Hermes has done an incredible job of creating the perfect supply and demand scenario. By limiting the supply and not allowing everyone to purchase a bag, the demand for Hermes bags is extremely high and people from around the world try to get their hands on one of the most coveted bags of our time. Hermes has limited buyers to purchasing 1 quota bag a year. Due to the limited supply and high demand, this enables Hermes to raise their prices every year in store and allows vintage Hermes bags to be sold at a premium.
Artisans train for years & every bag is handstitched by one person
Before an artisan can ever work on a Hermes bag, they have to train for years sewing Hermes saddles to perfect their skill. Once they have enough experience under their belt, they are able to work on the infamous Hermes Bags which takes on average 15 – 24 hours to make. All Hermes Bags are sewn by hand by one person at an atelier in Paris, France. If you ever take your Hermes bag back in for a repair, that same artisan as long as they are still working at Hermes will personally take care of your bag.
In order to invest in high quality artisans and continue to ensure that Hermes bags are sewn by hand, Hermes has to keep their bags at a premium price point. Shop vintage Hermes Bags
High quality leather and exotics
Another reason Hermes bags are so expensive is Hermes owns several leather tanneries around the world to ensure they are able to secure the highest quality leather possible. Hermes uses over 35 different types of leather to create the beautiful bags you see today. Due to the fact that Hermes is able to secure the highest quality leather on the market today, it’s no surprise that Hermes bags are expensive. Shop exotic Hermes bags
Seen as an alternative Investment
Another reason people flock to purchasing Hermes bags is because they are seen as an alternative investment to some. According to Time, for the last 35 years The Hermes Birkin has an annual return of 14.2% a year, beating out the S&P500.
If you were to buy a Hermes Birkin bag today at the retail, you could resell the bag for 156% profit! You may be wondering, well then why doesn’t everyone do that, well it’s because Hermes makes it difficult to purchase their coveted Kelly, Birkin, and Constance bags in store. Plus, if you are offered one of these quota bags, you are only able to purchase 1 a year. I’ve written entire articles about strategizing on how to buy a Birkin Bag in Store and how to buy a Hermes bag in store.
Do Hermes bags warrant that high price tag?
The question of the day, do Hermes bag warrant that high price tag? In my opinion Yes Hermes bags warrant a high price tag, due to its high quality leather, the impeccable craftsmanship that goes into creating each bag, the exclusivity, the name recognition, and the investment aspect. If you ever get the opportunity to purchase a coveted Hermes bag, I highly recommend it.
Final thoughts on why Hermes bags are expensive
Hermes bags are gorgeous, high quality bags that carry a steep price tag. I got my first Hermes bag in 2018 and have been slowly adding to my collection ever since! I love the Hermes craftsmanship, and how it feels like I’m carrying a rare piece of art every time I wear a Hermes bag. I’d love to hear in the comments about your thoughts on the Hermes bags
Sincerely Petite in Paris,