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Hermès Birkin bag: Toting heritage value
Undisputedly the world's most coveted fashion accessory, the Hermès Birkin gets a further seal of approval as a sound investment piece you can bag. An industry inside view on this expensive arm candy
- PUBLISHED: Sat 12 Mar 2016, 11:00 AM UPDATED: Sat 12 Mar 2016, 1:55 PM
The Hermès Birkin bag has, for 35 years now, been the ultimate status symbol. This year, news channels, papers and blogs have declared that buying a Birkin is, in fact, a sound financial investment.
The price of the famed Birkin goes up by around 14 per cent every year - making a it better investment than gold, stocks and, in some cases, even real estate. Women around the world were busy posting the articles that came out on their social media, as it justified their love for the Birkin.
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A HIGH-FLYING BEGINNING
With a starting price of US$12,000, this is no ordinary bag. It all began when, in 1981, singer and actor Jane Birkin was seated next to Hermès' Jean-Louis Dumas on a flight, and told him that there was no weekend bag that really appealed to women. Birkin told Dumas, "Why don't you make a handbag that is bigger than the Kelly (the Hermès style named after Grace Kelly) but smaller than (then-husband) Serge's suitcase?" And so the boxy bag, complete with a lock, was born.
Late last year, though, Jane Birkin declared she wanted her name removed from the bag. The actress believed that cruel methods were being used on the farms that raise reptiles for these coveted bags. She later retracted her statement, as Hermès confirmed that they did follow international practices stringently.
Hermès kept the production of this bag limited, thus increasing its allure. And women cannot seem to get enough of it. Victoria Beckham's collection of the Birkins is rumoured to be valued at over US$ 2,000,000. Of course, the Birkin remains Hermès most coveted bag brand, but their Constance and Kelly are also much in demand. To make things extra special, Hermès comes out with special editions of their already lustworthy bags, in rare leather combinations, sporting diamond locks, and even some with customised artwork.
A COLLECTOR'S ITEM
So the news that Christie's will now be auctioning pre-owned Hermès bags is actually not surprising. This year, Christie's celebrates its 10th anniversary in Dubai, and there are three auctions being held this week: The Important Watches, Modern and Contemporary Art, and Elements of Style. The Art and Watch auctions are not new to Dubai, but Elements of Style comes to the city for the first time.
Matthew Rubinger, International Director, Asia & EMERI for handbags and accessories, Christie's, says, "This sale concept was first introduced in Hong Kong as a cross-department private sale exhibition and, soon after, replicated as an auction concept at our Shanghai sale centre in 2014. It has now been exported to Dubai for the very first time." It will include 60 handbags, limited edition fountain pens from Montblanc and other objects of desire, such as a repurposed vintage Louis Vuitton trunk.
The Hermès bags, however, are sure to receive the most attention, and the one to look out for is the sesame lizard grand marriage Birkin 35 bag with an estimate lot price of $45,000-50,000.
It seems, now, that handbags are no longer a mere fashion accessory, but an objet d'art. Rubinger states, "In the late 2000s, the recession was setting in and tastes were changing. People were not as interested in seasonal pieces that were out of style only a season later. They were getting smarter about their purchases and thinking about which bags they could buy that would hold their value, and be in style, for a longer period of time. People's tastes shifted to more classic, tried-and-true pieces. As the recession ended, shoppers had gotten very savvy and knew the pieces that were valuable; they were ready to start taking risks. In the last few years, these same shoppers have begun to morph into collectors, as they passionately seek special and rare pieces that no one else can find."
Other labels that you will find at the auction include Chanel, Gucci, Bottega Veneta, and Louis Vuitton - but, of course, it's the Birkin that most will be locking into.
FROM THE BIRKIN TO THE KELLY
See quality as an investment - Working from its Paris ateliers, Hermès is the only major fashion house producing leather goods by continuing to stitch by hand, using the celebrated saddle stitch method, which has come to be known the world over. It takes between 30 to 40 hours to produce the most celebrated Hermès models, such as the Birkin.
Every Hermès model is a legend - Created in 1935, the Kelly bag has become part of the brand's genetic code, having shot to fame when actress-turned-royal Grace Kelly toted it in 1956, using it to subtly hide her pregnant belly. The Hermès 'travel bag with strap' was re-christened the 'Kelly' in honour of the Monaco princess. Other models include the Birkin, named after English actress Jane Birkin.
A brand that stays loyal to its roots - Before becoming renowned for its handbags, Hermès was the go-to brand for fans of riding leathers. Hermès was top of the game in producing saddles. A number of the brand's models have reflected this craftsmanship history, with large bags providing enough space for riding hat, boots, whip and saddle - all of which are still made by Hermès today.
Colour is everything - When buying an Hermès, it's important to consider both material and colour. The brand is known for its signature shades, with over 100 available to choose from. Reds have become legendary; blues come in rich turquoise, deep blue marines, or soft sky; pinks are shocking, or a light lipstick shade; greens can be olive or rich chlorophyll shades, and then there's the deep noir 'So black'.
(The Christie's Elements of Style Auction will take place on March 17 at 7pm at the Goldolphin ballroom, Jumeirah Emirates Towers)
The writer is Consulting Fashion Editor, Khaleej Times.