Paris, Sotheby’s, July 10, 2025 – It took just ten minutes to write a page of history in the plush world of luxury leather goods. Up for sale for the first time in 25 years, the very first Birkin bag that belonged to Jane Birkin soared to 8.6 million euros ($10.1 million) amid the applause of the audience.
An exceptional sale
On July 10, 2025, the tension is palpable in the salons of Sotheby’s in Paris. Starting at a price of 1 million euros, the piece shatters the previous record set in 2021 ($513,000 for a diamond-encrusted Kelly Himalaya) with the very first hammer strike.
Nine bidders on the phone, online, and in the room compete for the item for about ten minutes. The winner is an anonymous Japanese collector. He leaves with a legendary item and an exotic investment that has shown annual growth rates exceeding those of the S&P 500 according to several studies on collectible luxury.
The most famous bag in the world
It all begins in 1983, aboard a Paris-London flight. Actress Jane Birkin awkwardly places her wicker basket in the overhead compartment. The contents spill out, and she sighs. Next to her, Jean-Louis Dumas, president of Hermès, takes note. "There is no chic and practical weekend bag," she whispers to him. A year later, he gifts her the very first example of the bag that will bear her name.
This original Birkin, made of soft black leather, accompanied Jane for ten years before she entrusted it to the "Auctions of Hope" for the Solidarité Sida association. The bag then embarks on a new life: it is resold, travels from hand to hand, and is displayed in various corners of the world – notably at the Museum of Art in New York in 2018, and then at the Victoria and Albert Museum in London in 2020.
Handmade in France according to the rules of traditional saddlery, each Birkin is the result of 18 hours of work by artisans trained for five years. It embodies absolute luxury where every stitch, every leather, every finish tells a story of rare craftsmanship.
The Off Market Note
The Birkin is among the rare luxury items that have fully integrated into the world of alternative investments. Platforms like Konvi have even paved the way for a partial democratization of this asset, allowing individuals to invest in luxury bags starting at €250.
But however legendary it may be, investing in a Birkin remains a speculative and uncertain bet. Because despite its longevity, it is fundamentally just a fashion accessory, whose value is entirely based on a socially constructed desire. Unlike gold, for example, the Birkin derives its value from its power of distinction, and not from a concrete use or a function deeply rooted in our society.
Its ongoing production also weakens its rarity. Unlike a work of art signed by a deceased artist, each new model produced further dilutes the exclusivity.