Christie’s Paris have recently held one of their renowned Handbag & Accessories Auctions and the results show that the allure of the Hermes bag has not diminished one bit, even in these more uncertain economic times. If you buy an Hermes bag, not only are you making a sound financial investment but you also possess an item that is both beautiful and usable – what’s not to like?
The Times and other newspapers picked up on the sale, mostly due to the inclusion of a Mini Kelly once worn by none other than Hollywood legend, Elizabeth Taylor. Made in 1991, the Yellow Mini Kelly in Courchevel leather with Gold Hardware was originally sold in the “Collection of Elizabeth Taylor” sale in New York in December 2011 for $20,000. This time round it realised €40,000 which even allowing for conversion and inflation is a pretty reasonable return on the original investment.
Other items of note were a Diamond Birkin which achieved €87,500, a Himalaya Kelly at €93,000 and an unusual metallic Birkin which was sold for €100,000 – just a few Euros over the estimate of €8,000 – €10,000!
Of the 215 lots, there were 161 Hermes items and even the more “everyday” bags were, on the whole, exceeding the estimate. One non Hermes item which we highlighted in our November newsletter was the unusual Kathrine Baumann Crystal cheeseburger clutch bag – this was sold for €3,000, €1,000 over it’s estimated price.
Christie’s continue to accommodate the growing demand for these fabulous bags and will be holding another Handbags and Accessories Auction in London in June.
**Please note that all sold prices are rounded up and include the buyer’s premium**