The Crown Index · November 2026
"Hermès holds its value" is one of the most repeated lines in luxury. We tested it on 15 popular Hermès bags, comparing each bag's US retail price with the median of its recorded eBay sales over the last 12 months. Six sell above retail. Nine sell below, some by a lot.
| # | Bag | US retail | Typical sale | vs retail | Sales, 12 mo |
|---|---|---|---|---|---|
| 1 | Kelly Pochette | $8,250 | $18,791 | +128% | 9 |
| 2 | Mini Kelly II 20 | $11,400 | $25,015 | +119% | 7 |
| 3 | Kelly Sellier 25 | $13,700 | $24,000 | +75% | 9 |
| 4 | Birkin 25 | $13,500 | $21,000 | +56% | 37 |
| 5 | Garden Party Neo 23 | $4,475 | $5,200 | +16% | 10 |
| 6 | Evelyne TPM | $2,525 | $2,600 | +3% | 48 |
| 7 | Birkin 30 | $14,900 | $14,000 | −6% | 88 |
| 8 | Constance 18 | $10,600 | $9,750 | −8% | 9 |
| 9 | Picotin Lock 18 | $3,975 | $3,500 | −12% | 85 |
| 10 | Birkin 35 | $16,300 | $10,449 | −36% | 106 |
| 11 | Evelyne PM | $4,425 | $2,295 | −48% | 56 |
| 12 | Garden Party 36 | $3,600 | $1,850 | −49% | 51 |
| 13 | Birkin 40 | $20,300 | $8,924 | −56% | 17 |
| 14 | Bolide 31 | $9,600 | $3,275 | −66% | 20 |
| 15 | Lindy 30 | $12,800 | $3,869 | −70% | 20 |
Four bags (Kelly Pochette, Mini Kelly II 20, Kelly Sellier 25 and Constance 18) have fewer than 10 recorded sales, so their exact percentages can move a lot with a few sales. The order at the top and bottom has been consistent in our data.
The four bags that resell furthest over retail, the Kelly Pochette, Mini Kelly, Kelly Sellier 25 and Birkin 25, have one thing in common: Hermès does not sell them online or to walk-in shoppers, and boutiques offer them to clients they choose. The next two, the Garden Party Neo 23 and Evelyne TPM, are the smallest sizes of lines you can usually buy, and they are the only ones of those lines that sell above retail.
At the other end are the Evelyne PM (−48%), Garden Party 36 (−49%), Birkin 40 (−56%), Bolide 31 (−66%) and Lindy 30 (−70%), with the Birkin 35 (−36%) just above them. They are larger sizes, and except for the two Birkins they are bags boutiques generally sell without a purchase history. The Birkin 35 and 40 show that even the most famous name drops when the size is out of favor.
The clearest comparison in the table: the Lindy 30 costs $12,800 and the Birkin 25 costs $13,500. One resells for $3,869, the other for $21,000. It is not the leather or the workshop. It is the size and how hard the bag is to get.
Typical sale is the median of recorded eBay sales over the 12 months to October 29, 2026, as buyer-paid prices before eBay seller fees, each listing counted once. Retail is the US boutique price listed in our Hermès Vault. Hermès does not publish production or allocation numbers, so anything about scarcity below is how the market behaves, not a figure from Hermès.
In our data, the Kelly Pochette: $8,250 at retail and a median $18,791 across 9 recorded eBay sales in the last 12 months, 128% over retail. The Mini Kelly II 20 (+119%) and Kelly Sellier 25 (+75%) follow. All three have fewer than 10 sales, so treat the exact percentages as rough.
No. Of the 15 bags in this ranking, 9 sell below US retail on eBay. The Lindy 30 sells about 70% under and the Bolide 31 about 66% under.
Among bags you can usually buy without a purchase history, the Evelyne TPM (+3%) and Garden Party Neo 23 (+16%) are the only ones in this ranking that resold above retail. Both are the smallest sizes of their lines.
Not in this ranking. The Lindy 30 costs almost as much as a Birkin 25 and resells for a fraction of it. Size and how hard the bag is to get explain far more of the gap.