Methodology

The preloved handbag market has no exchange, no ticker and no clearing house. There is no single place where a Birkin 25 in Togo has a price. What exists instead is a large number of partial signals — dealers listing bags at what they hope to achieve, listings quietly disappearing when someone pays — and, much rarer, transactions where someone knows exactly what changed hands and for how much.

This site publishes only the last of those. Every figure on it is drawn from completed transactions through Sellier's own boutiques in Knightsbridge, Motcomb Street and Monaco, with model, size, leather, colour, hardware and condition recorded at the point of sale.

What the records cover

Verified Hermès transactions from Sellier's own sales, Store Fresh condition, over a rolling three-year window. Coverage is deliberately narrow: Birkin and Kelly only, in the variations Sellier has traded, from the Mini Kelly and the Kelly Pochette through to the Birkin and Kelly 35. No other Hermès line is included.

Every bag is a one-of-one item rather than a repeat SKU, and trade is grouped on the specification itself rather than on the product title, so a single specification is never split across title variants. Hardware is part of a specification's identity: a Birkin Retourne 25 in Etoupe Togo with palladium hardware and the same bag in gold are two separate specifications throughout the site, never aggregated into one row.

Colour is reported as a family — Black, Grey/Taupe, Gold/Tan and so on — because the underlying reference names are too granular to compare year on year. Where a colour was not recorded at the point of sale, the specification still counts towards trade but is excluded from the Colour Report.

Prices

No price on this site is calculated. Every figure is an observed Store Fresh sale for that exact specification. Where a specification has no recorded sale of its own, we show the median of recorded sales for the same model and size, in muted type behind a tilde — no adjustment is made for colour, leather or hardware. Where the model has no recorded sale at all, we show an em-dash rather than invent a number.

Each model also carries a twelve-month range: the low and high of what its examples actually sold for. The small bar under each price shows where that price sits between them.

Everything is published in GBP as booked, with no conversion or restatement applied.

Condition

Condition is the largest single source of noise in handbag pricing, so the site is condition-controlled rather than condition-adjusted. It counts Store Fresh examples only — the unworn grade carried as a variant option on every product. Every other grade is excluded rather than blended in, so prices are directly comparable between specifications and a specification does not look cheap merely because more of its examples were worn. Where both Store Fresh and other grades have traded in volume — the Birkin Retourne 25 in Togo and the Kelly Sellier 25 in Epsom — the Store Fresh median sits about 21% above the median of every other grade.

The Pulse 100

The Pulse 100 tracks total Sellier retail net sales, month by month, from September 2023 onwards. Each point is the trailing twelve-month average of those sales, rebased so that the first complete window — August 2024 — equals 100. A twelve-month window removes the seasonality of the trade rather than smoothing it away by hand.

It is a house index, not a market index. The series is not restricted to Hermès and not restricted to Store Fresh condition: it counts what one retailer sold, so it moves with our own buying, stock levels and shop openings as well as with demand.

Suppression

Absolute volumes are withheld. We do not publish how many bags were sold in total, how many of any one specification changed hands, or what that trade was worth. Everything is published as a rank or as a share of trade, and a share too small to publish safely is grouped or withheld rather than rounded down, so that no published percentage can be worked back to a volume.

Not yet published

Three things people reasonably expect from a market site are absent, because the records do not yet support them. We would rather publish nothing than publish a number we cannot stand behind.

Movement over time. Price change for an individual specification over 30 days, 90 days or a year. The sales records hold what each bag sold for, but not a dated price history per specification, so no movement figure is published.

Days to sell. The interval between a bag arriving and a bag selling is the most useful demand signal there is, because it moves before price does. It needs intake and sale dates on every record; those dates are not captured yet. The one thing we can see today is the age of current unsold stock, which is a floor on eventual time to sell, not the figure itself, and is labelled as stock age wherever it appears.

Sentiment and market temperature. Composite readings of market strength need dealer-wide listing supply and ask-to-sale spreads alongside our own transactions. That wider collection is not running.

Each of these returns to the site when the underlying records support it, and not before.

What this is not

These figures describe a market; they are not a valuation of any individual bag, and they are not investment advice. Two bags of the same specification can be thousands of pounds apart on condition, stamp year and completeness alone.