The big apple -- Hermes, Chanel, Louis Vuitton. What woman wouldn't covet a handbag by one of these iconic fashion houses?
The still red-hot status handbag market -- driven by celebrity trendsetters such as Katie Holmes and Victoria Beckham -- has not escaped the notice of some big auction houses. They are saying it is just a new and growing category which is attracting a global clientele of sellers and buyers.
"The past 5yrs there have been an amazing growth and interest through the average consumer for the reason that style of piece," said Matt Rubinger, director of luxury accessories at Heritage Auctions.
Dallas-based Heritage has embraced the market industry wholeheartedly since its first dedicated handbag auction in December 2010.
At its holiday sale per year later, a red crocodile skin hermes birkin handbags set a global auction record when it sold for $203,150. A blue crocodile version for the same auction sold for $113,525, plus a shiny red crocodile Birkin fetched $95,600. The 3 shattered the last record of $82,100 for the black crocodile Birkin sold at Christie's London in 2009 -- a couple of years after Christies sold two dozen hermes kelly bags and also other designer handbags and accessories. That 2007 sale convinced Christie's to acquire in this game, as there are a London auction planned by Christie's for November with 70 bags by Hermes in addition to vintage couture of early 20th century designs by Chanel, Louis Vuitton and Lanvin.
This past January, Heritage expanded to include weekly online sales that start at $1 and still have no reserve and estimates. Generally, pieces sell from $500 to $2,500.
You will find the occasional bargain, though: Recently, a rare Louis Vuitton top-handle bag in navy-blue Lucite realized $325 on a Heritage weekly sale, plus a vintage Carlos Falchi clutch sold for as little as $69.
"It's the greater modern versions, the brightest colors and rare leathers that sell for the highest prices," said Christie's fashion specialist Clare Borthwick.
These bags are relatively new pieces, most developed in the final twenty years, although some go as far back to 1950.
So, what's every one of the fuss?
It comes to quality and craftsmanship, with Hermes positioned at the pinnacle as being the ultimate must-have status symbol using its tailored and sophisticated Birkin and Kelly silhouettes. (The bags are named after French actress Jane Birkin plus the late Grace Kelly.) They may be fine leather, special, hand-crafted pieces that "take long spaces of time and hours" to create, said Rubinger.
Other popular, classic and coveted bags would be the Louis Vuitton duffel-style Keepall and smaller-sized cousin, the Speedy, along with the Chanel classic flap bag -- having its signature chain strap.
The waiting list for any new cheap hermes bags may be considerable, leading many individuals to find out auctions being a viable alternative, added Carole Gordon, head of Bonhams's jewelry department, which combines its fashion accessory categories under one umbrella. Auctions may also be often discover "unusual then one of any kind pieces," she said. Additionally it is a location where styles no more available in the retail market can be found.
Although many people might think it's crass to invest 5-6 digits on the bag, the auction houses said they hold their value.
"Hermes bags appreciate the minute you buy them," said Rubinger. Compare that "to someone who spent $200 on the bag inside the primarily market that's not worth anything as soon as they're buying it -- without having secondary industry for it."
"The really tried and true pieces hold their value and improve their value after a while. There exists a huge sell for these pieces," he added.
Based on the brand, the model plus the piece, a seller could get between 50 and 120 cents for the dollar, said Rubinger.
"Nearly all of our buyers buy to put on. For no reason necessarily have collectors," said Borthwick. "Unfortunately we cannot know hopefully might change in one's destiny."
Strong prices at a May Bonhams auction featuring Hermes bags at a private collection, a lot of them unused and in their original packaging, were "a reflection with the rarity of those bespoke items," said Gordon, adding the British auctioneer was considering holding future handbag sales.
Rubinger said he gets consignment pieces every day.
To prove his point, during a job interview he walked over to a substantial unopened box sitting on the table in Heritage's Ny office which had just arrived from Qatar. He slit it open to find two Louis Vuitton purses: An eco-friendly mousseline mink and crystal Demi Lune Special edition Show Bag as well as a LV monogram multicolor Keepall. Both will probably be offered by Heritage's Dec. 4 holiday sale which has a pre-sale estimate of $2,000 to $3,000.
Rubinger produced two other rare pieces that will be within the sale: A Hermes shearling Kelly bag estimated to sell for $15,000 to $20,000 along with a hermes kelly mini bag with presentation box estimated to take $20,000 to $30,000.
The still red-hot status handbag market -- driven by celebrity trendsetters such as Katie Holmes and Victoria Beckham -- has not escaped the notice of some big auction houses. They are saying it is just a new and growing category which is attracting a global clientele of sellers and buyers.
"The past 5yrs there have been an amazing growth and interest through the average consumer for the reason that style of piece," said Matt Rubinger, director of luxury accessories at Heritage Auctions.
Dallas-based Heritage has embraced the market industry wholeheartedly since its first dedicated handbag auction in December 2010.
At its holiday sale per year later, a red crocodile skin hermes birkin handbags set a global auction record when it sold for $203,150. A blue crocodile version for the same auction sold for $113,525, plus a shiny red crocodile Birkin fetched $95,600. The 3 shattered the last record of $82,100 for the black crocodile Birkin sold at Christie's London in 2009 -- a couple of years after Christies sold two dozen hermes kelly bags and also other designer handbags and accessories. That 2007 sale convinced Christie's to acquire in this game, as there are a London auction planned by Christie's for November with 70 bags by Hermes in addition to vintage couture of early 20th century designs by Chanel, Louis Vuitton and Lanvin.
This past January, Heritage expanded to include weekly online sales that start at $1 and still have no reserve and estimates. Generally, pieces sell from $500 to $2,500.
You will find the occasional bargain, though: Recently, a rare Louis Vuitton top-handle bag in navy-blue Lucite realized $325 on a Heritage weekly sale, plus a vintage Carlos Falchi clutch sold for as little as $69.
"It's the greater modern versions, the brightest colors and rare leathers that sell for the highest prices," said Christie's fashion specialist Clare Borthwick.
These bags are relatively new pieces, most developed in the final twenty years, although some go as far back to 1950.
So, what's every one of the fuss?
It comes to quality and craftsmanship, with Hermes positioned at the pinnacle as being the ultimate must-have status symbol using its tailored and sophisticated Birkin and Kelly silhouettes. (The bags are named after French actress Jane Birkin plus the late Grace Kelly.) They may be fine leather, special, hand-crafted pieces that "take long spaces of time and hours" to create, said Rubinger.
Other popular, classic and coveted bags would be the Louis Vuitton duffel-style Keepall and smaller-sized cousin, the Speedy, along with the Chanel classic flap bag -- having its signature chain strap.
The waiting list for any new cheap hermes bags may be considerable, leading many individuals to find out auctions being a viable alternative, added Carole Gordon, head of Bonhams's jewelry department, which combines its fashion accessory categories under one umbrella. Auctions may also be often discover "unusual then one of any kind pieces," she said. Additionally it is a location where styles no more available in the retail market can be found.
Although many people might think it's crass to invest 5-6 digits on the bag, the auction houses said they hold their value.
"Hermes bags appreciate the minute you buy them," said Rubinger. Compare that "to someone who spent $200 on the bag inside the primarily market that's not worth anything as soon as they're buying it -- without having secondary industry for it."
"The really tried and true pieces hold their value and improve their value after a while. There exists a huge sell for these pieces," he added.
Based on the brand, the model plus the piece, a seller could get between 50 and 120 cents for the dollar, said Rubinger.
"Nearly all of our buyers buy to put on. For no reason necessarily have collectors," said Borthwick. "Unfortunately we cannot know hopefully might change in one's destiny."
Strong prices at a May Bonhams auction featuring Hermes bags at a private collection, a lot of them unused and in their original packaging, were "a reflection with the rarity of those bespoke items," said Gordon, adding the British auctioneer was considering holding future handbag sales.
Rubinger said he gets consignment pieces every day.
To prove his point, during a job interview he walked over to a substantial unopened box sitting on the table in Heritage's Ny office which had just arrived from Qatar. He slit it open to find two Louis Vuitton purses: An eco-friendly mousseline mink and crystal Demi Lune Special edition Show Bag as well as a LV monogram multicolor Keepall. Both will probably be offered by Heritage's Dec. 4 holiday sale which has a pre-sale estimate of $2,000 to $3,000.
Rubinger produced two other rare pieces that will be within the sale: A Hermes shearling Kelly bag estimated to sell for $15,000 to $20,000 along with a hermes kelly mini bag with presentation box estimated to take $20,000 to $30,000.
