The Crown Index · November 2026
Hermès sells the Kelly two ways. The Sellier is stitched on the outside, with sharp edges and a rigid frame. The Retourne is stitched inside out and turned, so it is softer and slouches a little. At the boutique the two cost the same at every size. On the resale market they are priced like different bags.
We lined up every recorded eBay sale of the leather Kelly Sellier and Kelly Retourne over the last 12 months against US retail.
| Kelly | US retail | Typical sale | vs retail | Sales, 12 mo | Grade |
|---|---|---|---|---|---|
| Sellier 25 | $13,700 | $22,500 | +64% | 10 | A+ |
| Retourne 25 | $13,700 | $15,900 | +16% | 3 | A− |
| Sellier 28 | $14,400 | $16,500 | +15% | 15 | A− |
| Retourne 28 | $14,400 | $9,400 | −35% | 27 | B− |
| Sellier 32 | $15,200* | $8,000 | −47% | 12 | C+ |
| Retourne 32 | $15,200* | $7,600 | −50% | 43 | C |
| Retourne 35 | $16,000* | $6,900 | −57% | 24 | D |
* Retail for the 32 and 35 is our estimate; Hermès does not list every size in every market.
The 28 is the cleanest comparison: same $14,400 price tag, and enough sales on both sides to trust. The Kelly Sellier 28 sold for a median $16,500 across 15 sales, about 15% over retail. The Kelly Retourne 28 sold for a median $9,400 across 27 sales, about 35% under.
That is a 75% premium for the Sellier, or roughly $7,100 on the typical sale, for a bag that cost the owner exactly the same. The middle half of Sellier 28 sales ran from about $10,800 to $20,900; for the Retourne 28 it was $7,700 to $15,400. The ranges overlap, so a great Retourne can outsell a tired Sellier, but the center of each market is far apart.
The Kelly Sellier 25 is the strongest leather Kelly we track: a median $22,500 across 10 sales, 64% over its $13,700 retail, graded A+. The Retourne 25 also sold over retail, at a median $15,900, but only 3 sales were recorded in 12 months. Treat that number as a hint, not a price.
The pattern matches what we found for the Birkin by size: the smaller the bag, the harder it is to be offered at the store, and the more the resale market charges for it.
Size up to 32 and both builds fall to about half of retail. The Sellier 32 sold for a median $8,000 and the Retourne 32 for $7,600, a gap of only about 5%. The Retourne 35, at a median $6,900, is the weakest leather Kelly in our Vault and the only one graded D.
Volume tells the same story. We recorded 97 Retourne sales across four sizes and 37 Sellier sales across three. The Retourne 32 alone had 43. More bags for sale means less pressure on price.
Our daily eBay log shows how far listing prices sit above what bags actually sell for. The gap is much wider on the Retourne.
| Kelly | Median eBay ask, Nov 8 | Typical sale | Ask over sale |
|---|---|---|---|
| Sellier 25 | $27,300 | $22,500 | +21% |
| Sellier 28 | $19,600 | $16,500 | +18% |
| Retourne 28 | $17,000 | $9,400 | +80% |
| Retourne 32 | $14,300 | $7,600 | +88% |
| Retourne 35 | $12,000 | $6,900 | +74% |
A Sellier 25 or 28 is listed about 20% over where it usually sells. A Retourne 28 or 32 is listed 80% to 90% over. If you are buying a Retourne, the ask is a starting point, not the price. If you are selling one, price against sales, not against other listings.
If you want a Kelly that holds its value, the data points to a Sellier in 25 or 28. If you want one to carry every day, the Retourne 28 or 32 is the better used buy: you get the same bag for well under retail, and the first owner has already taken the drop. Before paying for any Kelly, check the exact price against real sales with Crown Check, and see every size in the Hermès Vault.
Typical sale is the median of recorded eBay sales over the last 12 months, as buyer-paid prices before eBay seller fees, each listing counted once, rounded to the nearest $100. Asks are the median eBay asking price in our daily log on November 8, 2026. Retail is the US boutique price listed in our Hermès Vault. Grades are from the Vault. Past sales, not a forecast.
The Sellier, at the sizes that matter. A Kelly Sellier 28 sold for a median $16,500 across 15 recorded eBay sales in the last 12 months, against $9,400 across 27 sales for a Kelly Retourne 28. Both cost $14,400 at the boutique.
The Kelly Sellier 25. It sold for a median $22,500 across 10 recorded sales, 64% over its $13,700 retail. The Retourne 25 also sold over retail, but only 3 sales were recorded, too few to call a market.
Not on resale data. The Sellier 32 sold for a median $8,000 and the Retourne 32 for $7,600, roughly half of an estimated $15,200 retail. At 32 the Sellier premium almost disappears.
The median recorded eBay sale over the last 12 months was $9,400 across 27 sales, with the middle half between about $7,700 and $15,400. Leather, color, hardware and condition move the price within that range.