The OG Birkin Bag Goes for $10M

A picture of Birkin and the original bag in HK

It turns out the OG Birkin bag, the first one co-designed by actress and singer Jane Birkin and Hermes CEO Jean-Louis Dumas in 1984 is worth US$10.1 million and was sold to a lucky collector in Japan at a Sotheby's auction the other day.

The price crushed the most paid for an Hermes bag, a Kelly bag made of white Himalaya Niloticus crocodile skin that was sold at auction in 2021 for $513,040.

Unlike most auctioned Hermes bags that are practically in pristine condition, this original Birkin bag is scuffed up, still has the outlines from political stickers that were placed on the bag for its owner, Birkin, to display her stances on issues, and has the initials J.B. stamped on the bag.

Dumas helped design the Birkin bag in the 1980s

The story of how the bag was created is practically legend, but true: In the 1980s she was on a Paris to London flight when Birkin, who was carrying a tattered woven wicker basket as her handbag, tried to stow it away, when items fell out and onto the floor.

She fortuitously sat next to Dumas, and Birkin asked him why Hermes didn't make bigger handbags. He proceeded to take an air sickness bag and sketch out a bag design for her. 

Their discussion of the bag continued well after the flight until he finally presented Birkin with the bag with the now signature clasps and handle and Dumas asked if the bag could be named after her.

Women today don't use their Birkin bag like she did -- to preserve its value and condition, most people only bring it out for show; after all they had to wait years to be able to purchase it!

Back in the 1990s I was fortunate enough to meet Dumas. He came to Hong Kong several times not only to visit the Hermes shops, but also meet up with his son, Pierre-Alexis Dumas, who was based in the city.

The original Birkin sold for over US$10 million

The elder Dumas was very charismatic, suave and had lots of stories to tell. He was the one who started the idea of setting a theme for every year and artisans at Hermes would create products and designs related to those themes. Basically a clever way to keep customers coming back to their boutiques.

When Dumas took over Hermes in 1978, the company's revenues were $50 million. By 1990 it was $460 million. The year before Dumas died in 2009 it was $2.5 billion.

Birkin kept the bag until 1994 when she donated it for an auction to raise money for an AIDS charity. It was auctioned again in 2000 until now, where it was estimated to be worth around $1 million.

The estimates were wrong by ten-fold.