Original Birkin Bag Fetches Record-Breaking $10 Million At Auction

Few items are as iconic as the Hermès Birkin handbag, which has become the ultimate symbol of luxury and exclusivity. It has been immortalized in popular culture across various disciplines—films, music, literature—and is loved by celebrities who proudly carry it on their arms for us all to admire. There is even a coveted dupe, the Wirkin, sold at Walmart, which has sparked much debate.

Until today, the most expensive handbag ever sold at auction was a White Himalaya Niloticus Crocodile Diamond Returnee Kelly 28, which fetched $513,040 in 2021—but fashion history was made in Paris this afternoon when the original Birkin prototype, owned by Jane Birkin herself, was sold at auction for €8,582,500 ($10,023,630) reflecting a growing trend in the sale of secondhand luxury items.

Investing In Collectable Pieces

There has been a rise in the sale of luxury secondhand items in recent times, particularly of rare pieces or those with a rich history. Money Week suggests that investing in luxury goods can yield dividends; according to the Knight Frank index, the strongest-performing luxury asset last year was handbags, which posted a 2.8% return, compared to a loss of 9% for whisky and an 18.3% loss for art. Over five years, the handbag sector is up 34%.

Furthermore, BCG states that wealthy investors are increasingly seeking alternative investments to diversify their portfolios and hedge against inflation. It cites the example of luxury watches, which have generally delivered strong price performance in the market over the past five to 10 years, confirming that the sector is growing.

I spoke to Tobias Kormind, co-founder and managing director of 77diamonds. He told me that for the last couple of years he has seen a steady increase in collectable items such as jewelry, art or uncommon items such as this original Birkin handbag. He added that in an age when social media is rife with micro-trends, and keeping up with them seems to become more and more complicated, these rare and collectable items hold a particular appeal, not only for their investment value, but also for what they represent: something timeless and unchanging, a unique story captured through the object that cannot be replicated in any way.

Kormind also explained that people are more interested in purchasing collectables as investment pieces, giving me the example of rare diamonds and jewelry pieces going on auction—such as Marie Antoinette’s infamous jewelry collection, which included a necklace that created a lot of controversy in the lead-up to the French Revolution. “A unique story that opens a window in time, and just cannot be replicated in any other way,” he says.

The Story Of The Original Birkin

The Birkin bag is made by Hermès, the luxury house founded in 1837 by Thierry Hermès (1801-1878), who opened a leather workshop in Paris at 56 rue Basse du Rempart. There, he produced leather goods for equestrian attire, including horse harnesses, fittings and bridles, which he’d sew by hand, using a saddle stitch, with a waxed thread and two needles to provide extra strength. The same stitch is still used to create a Birkin bag, which takes between 18 and 24 hours to make, and is sewn entirely by hand by a single artisan who has undergone years of training before being entrusted with the job.

As told by Jane Birkin in an interview with CBS, the story of the unique Birkin Bag begins at an airport. She was flying from Paris to London on an Air France flight when, upon check-in, a flight attendant upgraded her to First Class. Once on board, she found herself seated next to a very polite gentleman. As she was getting settled, her agenda fell on the floor, scattering papers everywhere, to which the gentleman beside her suggested she use an agenda with pockets. Birkin replied, “What can you do? Hermès doesn’t make them with pockets.” At this point, the gentleman revealed his identity: he was Jean-Louis Dumas (Executive Chairman of Hermès from 1978 to 2006). Birkin told him how difficult it was to find a leather bag that met all her needs as a young mother, explaining that she required something larger than the Kelly bag (a smaller Hermès handbag) but not as large as a suitcase. Together, they sketched the desired bag on the back of a paper sick-bag, which Jean-Louis Dumas took away with him. A month later, he called Jane Birkin and invited her to review the prototype, which was made of cardboard. Once they had discussed the details, Hermès asked if they could name the bag after her, to which she agreed.

Talking to Kurmind, we discuss the extreme importance of the story behind each piece in connection to its selling value. “In fact,” he says, “I would say that it’s the story that makes the inherent value of the piece. Without it, it would just be a very luxurious, well-made object; but it’s the story that elevates its desirability to incredible levels. Now all that is left to ask is just how high people are willing to pay to own a little piece of history.”

Seven Differences

The original Birkin bag is full of character. Jane Birkin used it daily and filled it to the brim. She used to carry keys and charms on it that would create a bell-like sound when she walked. Jane Birkin also placed stickers on her bag in support of humanitarian causes such as Médecins du Monde and UNICEF. In 1994, she donated this bag to the French AIDS charity Association Solidarité Sida for an auction. It was then resold at auction by Poulain Le Fur in May 2000 and has remained in private hands until today, when the legendary accessory headlined the Fashion Icons sale at Sotheby’s Paris.

As described by Morgane Halimi, Sotheby’s Global Head of Handbags and Fashion, the bag is a true unicorn in the world of fashion and accessories. Being the prototype, the original Birkin bag auctioned today differs slightly from the standard Birkin bags available on the market. Firstly, its size is unique: It has the width and height of a 35cm Birkin but the depth of a 40cm Birkin. Unlike later models, it features closed metal brackets and a zip made by the Éclair company (before Hermès began a partnership with the Riri company). It features an attached shoulder strap and has her initials, J.B., embossed on the front flap. Like all Birkin bags, this one has studs on the base, but these are smaller than the standard ones used today. The original also displays gilded brass hardware, which in later models was replaced by gold-plated hardware and other finishes. Finally, the bag comes with a set of nail clippers attached to the base of the strap, a reflection of the practical nature and tomboy aesthetic Jane Birkin personified.

Today’s record sale comes as no surprise. The original Birkin bag is a piece of fashion history. Unique in its finish, this iconic piece was made specifically for Jane Birkin. As Kormind says, it’s the one she used, the one that started the trend and therefore the one whose story is one-of-a-kind.