Hermès Raises Kelly Bag Prices: What You Need to Know
Learn about the Hermès Kelly bag price increase in 2025, why prices are rising, and what this means for buyers and collectors.
Hermès has raised Kelly bag prices again in 2025, with notable increases across popular sizes like the Kelly 25 and Mini Kelly. Collectors and first-time buyers alike are watching closely as boutique pricing moves further apart from secondary market values. Here’s 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 2025 Key Takeaways
| Kelly Bag Price Increase in 2025 | U.S. prices rose 4.4% to 5.9% in May 2025 due to new tariffs; global prices had already increased 6% to 7% in January. |
| Factors Driving Price Increases | Tariffs, limited production, brand prestige, currency fluctuations. |
| Kelly 25 Price 2025 | $12,000 in Togo leather, $12,600 in Epsom leather |
| Mini Kelly II 2025 | $10,000 in Epsom leather |
| Secondary Market Impact | Secondary prices for Mini Kelly II average 3x retail. Kelly Pochette premiums remain the highest at ~4.5x boutique price. Larger Kelly sizes hover around 2.5x retail. |
| 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 2025?
Hermès has raised Kelly bag prices again in 2025, with the most notable increases affecting the Kelly 25 and Mini Kelly. The Kelly 25 in Togo leather with a Retourne finish is now priced at $12,000 in boutiques—up 6% since 2024 and 28% since 2019. The Kelly 25 Sellier in Epsom leather has risen to $12,600, reflecting an increase of nearly 7% year-over-year.
The ever-popular Mini Kelly II in Epsom now costs $10,000, up 6% from 2024 and 18% from 2022. Exotic versions have climbed even higher: the Mini Kelly II in lizard leather jumped from $23,400 to $24,600 in May 2025, following a U.S.-only tariff-driven adjustment, while the Mysore Chèvre Mini Kelly II is now $10,800, a 7% increase from 2024 and 18% from 2022.
Other models have also seen price hikes. The Kelly Elan in Epsom has reached $10,600, a 6% rise from 2024. However, prices for the larger Kelly 28, 32, and 35 had not been updated as of January 2025.
In addition to the annual January increase, Hermès implemented a second round of U.S.-only price hikes on May 1, 2025, driven by new tariffs. These adjustments ranged from 4.4% to 5.9% and affected handbags, footwear, and jewelry. While U.S. prices rose, European prices remained unchanged, widening the regional price gap.
Hermès Kelly Secondary Market Prices in 2025
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, prices for pristine Hermès Kelly bags remained steady throughout 2024, and early 2025 trends suggest values will stay largely flat.
For the highly sought-after Hermès Mini Kelly in leather, resale prices have held between $28,000 and $33,000, despite January’s boutique increases. However, the May 2025 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 $26,000 and $30,000, 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
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