Mini Hermès Kelly History
The earliest known Hermès Kelly Mini dates from 1957 and was produced with a mid-length shoulder strap. The iconic round top-handle that has led collectors to dub it a bracelet handle wasn’t seen until 1980. It would be another ten years before Hermes would introduce the Mini Kelly 20 in Retourne construction, a model that is exceedingly rare today. Seven years after its discontinuation (The last known Mini Hermès Kelly bag dates from 2009, though examples after 2004 are extremely rare), Hermes would re-design the Mini Hermès Kelly and reintroduce it to the world as the Hermès Mini Kelly 20 II. This version saw the top-handle and depth reduced. Mini Hermès Kelly bags never came with locks, keys or clochettes, though shoulder straps have been seen on the models since their inception. It is exceedingly rare to find vintage Kelly 20 bags with double-loop hardware, as they were not included in this change at the turn of the century.
Vintage Mini Hermès Kelly: The Original Mini Kelly
Surprisingly, the original Mini Hermès Kelly was not much of a hit during its debut era. Though beloved by fashion-forward icons like Elizabeth Taylor – who had 3 in her collection – the Mini Kelly was generally too small for most women, especially in a time when big bags reigned supreme. Generally considered a novelty, these bags could easily be had for under $10,000 in leather, and exotic versions did not command much more. That is, up until 2018, when the new Hermès Mini Kelly 20 II first came to auction. Since then, values for these highly collectible vintage bags have galloped along to keep pace with their new mini cousins. Their presence on the market has notably declined, with the average number of Mini Kelly bags sold at auction annually plummeted to less than two over the last few years. Today, vintage Mini Hermès Kelly are extremely hard to find even in regular leather, and it is expected their value will continue to grow in tandem with the new Mini Kelly for years to come.
Recently, Sotheby's sold a Vintage Hermès Mini Kelly 20 in Shiny Porosus Crocodile Rose Bonbon with Gold Hardware from1997 for over $155,000 in Hong Kong. This rare Mini Kelly from The Visionary Collection of Joseph Lau was highly sought after by multiple collectors due to its pristine condition and rare pink crocodile color.
Modern Collectible: Hermès Mini Kelly 20 II
In the six years since the Hermès Mini Kelly 20 II was released, it’s auction prices have only gone up. The Mini Hermès Kelly bag sells for $8,000 in Epsom and $8,500 in Chèvre, but is now selling for multiples of this value on the secondary market. This exciting new rendition of a timeless bag has proven to be a runaway success with both experienced and young collectors. During the first years that the new Mini Kelly appeared at auction they averaged over $15,000, eclipsing the value of the vintage Mini Kelly from the start. Since then, prices for all Mini Hermes Kelly bags have risen dramatically, with the average auction price in 2022 nearing $30,000. Each season a new record for this style is set and the trend shows no signs of abating. The exotic Mini Kelly has not experienced such a clear elevation season over season, with average auction prices varying between $32,000 and $48,000 for ostrich and lizard examples, and between $37,000 and $57,000 for alligator versions. Exotic Mini Hermès Kelly are far rarer than leather ones, and this tremendous scarcity will likely translate into record-breaking auction results in future seasons for pristine condition Mini Kelly.
New Variations of the Hermès Mini Kelly
With the increasing popularity of the Mini Kelly, more variations are also being produced by Hermès. Recently the tri-color Mini Kelly Bag and Mini Kelly Touch (with alligator handle and side straps) have become available. Given the popularity if this Mini Hermès Kelly, we anticipate more limited edition models will come to market in 2023. Contact a Sotheby's Handbags Specialist if you are looking for a limited edition or exotic material Mini Kelly bag. We have sourced many special and rare Hermès Kelly 20 for collectors.
