Bernstein Global Luxury Goods: Hermès Secondhand Pricing Tracker — April 2026
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Bernstein published its latest Hermès secondhand pricing tracker, utilizing data from major resale platforms to evaluate the underlying strength of the brand's market demand. The findings confirm that Hermès continues to command significant premiums in the secondary market, although the gap has begun to narrow for specific models. As of April 2026, the overall Hermès secondhand pricing index declined 2% month-over-month but maintained a 5% increase year-over-year.
Highly coveted designs still exhibit remarkable value retention. The Birkin 25 in crocodile leather trades at an approximate 80% premium over retail, while the Kelly 25 in calfskin achieves a 50% premium. However, less sought-after models, such as the Herbag and Evelyne, display significantly lower premiums ranging from 10% to 20%.
Bernstein attributes this enduring pricing power to Hermès deliberate scarcity strategy and unmatched brand equity, which continue to outperform peers like Chanel and Louis Vuitton in the resale arena. Nevertheless, the report cautions that broader macroeconomic headwinds, including persistent inflation and elevated interest rates, could eventually dampen secondary market demand. By tracking regional resale price variations for core models like the Birkin and Kelly, Bernstein provides a granular view into global luxury consumption trends, reinforcing the brand's premium positioning despite short-term volatility.
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