Hermès Raises Kelly Bag Prices: What You Need to Know
Learn about the Hermès Kelly bag price increase in 2026, why prices are rising, and what this means for buyers and collectors.
Hermès has raised Kelly bag prices again in 2026, with notable increases across popular sizes like the Kelly 25, Mini Kelly, and Kelly 28. Collectors and first-time buyers alike are watching closely as boutique pricing continues to move higher and further shape secondary market dynamics. Below is everything you need to know about the history of the Kelly, current boutique prices, and how these changes may affect secondary market trends.
Hermès Kelly Bag Price Increase 2026 Key Takeaways
| Kelly Bag Price Increase in 2026 | U.S. prices rose 3.8% to 8.9% in January 2026; Europe 2.7% to 7.4%. |
| Factors Driving Price Increases | Increases follow tarrif-related U.S. adjustments in 2025 and limited production, brand prestige, currency fluctuations |
| Kelly 25 Price 2026 | $13,700 in Togo leather, $13,700 in Epsom leather |
| Mini Kelly II 2026 | $10,400 in Epsom leather |
| Kelly 28 Price 2026 | $14,400 in Togo leather, $14,400 in Epsom leather |
| Secondary Market Impact | At Sotheby's Kelly sales grew 10% in 2025 versus 2024; Strong sales growth suggests that Kelly resale values have remained resilient as boutique prices increased. |
| Collector Appeal | High demand persists due to exclusivity, craftsmanship, and rarity. |
Brief History of the Hermès Kelly Bag
The origins of the Hermès Kelly bag trace back to the Haut à Courroies (HAC), a large equestrian-inspired bag introduced in 1852. In the 1930s, Hermès artistic director Robert Dumas redesigned it into the Sac à Dépêches, a sleeker trapezoidal handbag with a cutout flap, top handle, and side straps.
The bag reached international fame in 1955 when Grace Kelly used it to shield her pregnancy from paparazzi while filming To Catch a Thief. In 1977, Hermès officially renamed the style the “Kelly” to honor the Princess of Monaco.
Each Kelly is still handcrafted by a single artisan, requiring 36 pieces of leather, 680 stitches, and 18–24 hours of work. Today, buyers can choose between the structured Kelly Sellier with exterior stitching and the more relaxed Kelly Retourne with interior seams. The Kelly has inspired a full line of accessories, from Kelly wallets and belts to clutches like the Kelly Elan.
How much is an Hermès Kelly Bag in 2026?
Hermès has raised Kelly bag prices again in 2026, with the most notable increases affecting the Kelly 25 and Mini Kelly, which remain among the most sought-after sizes at retail.
The Mini Kelly 20 in Epsom leather increased from $10,500 to $11,400, up 8.6% from May 2025. The Kelly 25 in Togo leather rose from $12,600 to $13,700,a 8.7% increase. The Kelly 25 in Epsom leather increased from $13,200 to $13,700, a more moderate 3.8% increase, while the Mysore Chèvre Kelly 25 rose from $13,500 to $14,700, a 8.9% increase since May 2025.
Other models have also seen price hikes. Both the Kelly 28 in Togo and Epsom leather are now priced at $14,400 in U.S. boutiques. No pricing updates have been announced for the Kelly 32 at this time, maintaining its position as one of the more stable sizes within the Kelly lineup.
At the highest end of the spectrum, the Kelly Elan Matte Crocodile Feathers now retails for $63,900, underscoring the continued strength of exotic Kelly pricing and Hermès’s willingness to push the upper boundaries of the category.
U.S. Hermès Kelly Bag Price History
| Size | Material / Type | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Mini Kelly II | Epsom Sellier | $11,400 | $10,500 | $9,400 | $8,700 | $8,250 |
| Kelly 25 | Togo Retourne | $13,700 | $12,600 | $11,300 | $10,900 | $9,900 |
| Kelly 25 | Epsom Sellier | $13,700 | $13,200 | $11,800 | $10,300 | $10,600 |
| Kelly 25 | Chevre Sellier | $14,700 | $13,500 | — | — | — |
| Kelly 28 | Togo Retourne | $14,400 | — | $12,000 | $11,300 | $10,600 |
| Kelly 28 | Epsom Sellier | $14,400 | — | $12,500 | $11,800 | $11,200 |
| Kelly 32 | Togo Retourne | — | — | $12,600 | $12,000 | $11,300 |
| Kelly 32 | Epsom Sellier | — | — | $12,300 | $13,300 | $12,100 |
| Mini Kelly II | Lizard | $24,600 | $24,600 | $23,400 | — | — |
| Kelly Elan | Matte Crocodile Feathers | $63,900 | — | — | — | — |
Hermès Kelly Secondary Market Prices in 2026
Secondary market prices for Hermès Kelly bags typically follow boutique price increases, though there is often a 6–12 month lag. On Sotheby’s marketplace, Hermès Kelly bags remain second only to Birkins in terms of demand. In 2025, sales of Kelly bags grew 10% since 2024, reinforcing the style’s continued relevance on the secondary market even as boutique prices moved higher. This steady growth, particularly across Mini Kelly and Kelly 25 sizes, reflects sustained collector confidence and supports the long-term pricing strength of the Kelly alongside the Birkin.
For the highly sought-after Hermès Mini Kelly in leather, resale prices have held between $30,000 and $36,000, despite January’s boutique increases. However, the January 2026 U.S. price hike may begin pushing resale values upward, especially for store fresh models in rare colorways or exotic skins.
The Hermès Kelly Pochette continues to command the highest premium on the secondary market. A current date stamp, store fresh Pochette in a neutral or seasonal pastel shade is now trading around $30,000—over 4.5 times retail. The Mini Kelly premium remains the second highest, averaging around 3x retail for a pristine leather bag with a recent date stamp.
By comparison, pristine Hermès Kelly 25 and Kelly 28 bags are selling between $28,000 and $33,000, which is roughly 2.5x the original boutique price. This premium aligns closely with that of the leather Hermès Birkin, underscoring the continued strength of Kelly resale values despite recent retail increases.
Buy and Sell Hermès Kelly Bags with Sotheby’s
Whether you're a seasoned collector or new to the world of Hermès bags, Sotheby’s offers a trusted, seamless way to buy and sell Hermès Kelly bags on the secondary market.
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Purchase online or in person at our locations in New York, Paris, and Hong Kong—or work with a dedicated handbag concierge. - Exceptional Value
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