Look, we all have that one purchase we really wish we made but for some reason didn’t. Sellier Knightsbridge gets dozens of messages after a particularly hot item has sold asking whether we might get another one, or whether they can be put on the waitlist for the next one. So unsurprisingly, when both Christian Dior and Chanel announced price hikes ranging between five percent to high twenties this Spring, a lot of us really wished we’d bought that bag that one time. For example, in one day, the Chanel mini classic flap increased from €2,680 to €3,350 – that is 27 per cent. No wonder there were queues out the door the day before the prices took effect! While this is all largely in line with what superbrand have been doing every few years, it does beg the question – will Hermes follow suit with a 2020/2021 price rise?
Will Hermes Increase Prices in 2020/2021
Well, most probably. But, if so, by how much will they increase the prices? Hermes will be no stranger to the fact that since the price increase, an ordinary Birkin 30 only has a few hundred Euros premium over the Chanel maxi classic handbag; that’s a change from around 22% in premium to 9%. Considering the Birkin is a) remarkably stronger from a re-sale perspective (trust us, we know), b) hand-stitched as opposed to Chanel’s machine stitching, and c) extremely difficult to source retail, we would not be surprised if this or next year’s price hike is the biggest yet.
How Much Will Hermes Increase Prices by in 2020?
Where does that leave us? Hermes has not really given indication as to where they might go but we have heard on the grapevine that a price increase may very well be happening. At present we don't know by how much - however, whispers amongst those in the know, suggest it will be the biggest price increase yet. After all
For consignors, this means that in order to secure the highest possible re-sale premium, you should probably act quickly. Equally, if you have always dreamt of that Hermes bag…well, what better time to strike than now?