Investing in a classic luxury handbag like a Hermès Birkin or Chanel flap bag is a smart move, as these pieces hold their value and often appreciate in the resale market. The RealReal’s 2024 resale report highlights this trend, revealing that the Hermès Kelly sells for 50% above its retail price, while The Row’s Margaux bag, a recent It-bag, commands a 15% premium. This isn’t limited to the most iconic brands; Bottega Veneta’s Andiamo bag, a favorite among celebrities like Hailey Bieber and Kylie Jenner, fetches up to 95% of its original price in the secondhand market. Similarly, the Chanel 22 mini handbag and the Loewe Puzzle are also attracting high resale values, with the latter seeing a 40% increase since 2020.
The rise of the resale market reflects a shift in consumer behavior. Kelly McSweeney, Senior Merchandising Manager at The RealReal, observes, “People are shopping with an investment mindset. Demand is less trend-driven, and more customers are searching for styles that hold their value.” While consumers are still willing to invest in luxury handbags, spending 20% more on this category than they did five years ago, The RealReal notes a growing interest in “more attainable” brands priced between $1,000 to $3,000. This shift is driving demand for lesser-known brands like Miu Miu and Loewe.
This trend extends to specific handbag styles. Toteme’s T-Lock, a staple in Katie Holmes’ wardrobe, is selling on average for 85% of its original price on The RealReal. The Savette Pochette, launched in 2020, has seen a 43% price increase on average. McSweeney explains, “These bags are quieter and focused on structure and shape, rather than being particularly logo driven or trend specific.” She also highlights the growing popularity of the Polène Numéro Dix and Alaïa Teckel. These bags embody a timeless, practical aesthetic, appealing to those seeking functional luxury.
The nostalgia trend continues to influence the market, with searches for Mulberry bags, a favorite during the Noughties indie sleaze era, surging by 41% in the past two years. McSweeney notes the resurgence of the Balenciaga Moto bag and anticipates the Alexa bag, another popular style from the 2010s, becoming the next star in the secondhand market.
The rise of celebrity style influencers like Jacob Elordi and A$AP Rocky has driven a dramatic increase in men’s handbag demand, with searches rising by a staggering 900% in the past year. Gucci, Fendi, and Chanel are the most sought-after brands in this category. This surge underscores the expanding appeal of luxury handbags and the versatility of the secondhand market, offering a diverse selection for all tastes and budgets.
