Editor’s Note
This analysis highlights a key trend in luxury goods: as new tariffs push primary market prices higher in 2025, the investment case for the pre-owned market strengthens. Leading the field, Hermès demonstrates remarkable value retention, with its iconic Birkin bag showing a 92% appreciation in resale value over the past decade.
Global tariff shifts in 2025 raised primary market prices across handbags, watches, and fine jewelry, reinforcing the resale market’s position as a stable, investment-driven channel for access and value.
Hermès reclaimed the top position, reaching an average 138% value retention—a 38% year-over-year increase—and setting the benchmark for enduring desirability. A decade-long analysis of Birkin data shows resale values have surged 92% since 2015, far outpacing Hermès’ own retail price growth of 43%.
Goyard followed Hermès closely with 132% retention, up 28% from 2024.
The Row entered the “unicorn” category for the first time with 97% retention, while Miu Miu climbed to 104% average retention.
Van Cleef & Arpels extended its lead in fine jewelry, with 112% retention led by the Sweet Alhambra collection.
Rolex remained steady at 104%, with standout models like the Submariner Hulk reaching 244% of their original retail price. Cartier advanced to 87%, solidifying its position as one of the most dependable luxury investments.
Louis Vuitton x Takashi Murakami’s return boosted search demand and pushed top styles above 130% resale value.
Renewed interest in Balenciaga’s Le City, Celine’s Phantom, and Chloé’s Paddington reflects appetite for early-2000s icons.
Hermès led the handbag category in 2025, with the Kelly Mini II reaching 282%, the Sellier Birkin 183%, and the Constance 137%. Other core styles exceeded 110% retention. Stricter quota limits tightened supply, pushing premiums higher. Birkin resale values have more than doubled retail price growth over the past decade.
Kelly Mini II Bag: 282%
Birkin Sellier Bag: 183%
Constance Bag: 137%
As tariffs pushed up the cost of gold and other precious materials, fine jewelry solidified its position as a dependable investment category. Van Cleef & Arpels and Cartier led resale performance, with enduring icons like the Sweet Alhambra and Love collections continuing to perform.
Van Cleef & Arpels Sweet Alhambra Pendant Necklace – 128%
Van Cleef & Arpels Sweet Alhambra Butterfly Bracelet – 123%
Cartier Trinity On Cord Bracelet – 112%
The Louis Vuitton x Murakami reissue reignited fascination with the house’s multicolor monogram collection, while Balenciaga’s Le City (+986% search growth) and Chloé’s Paddington (+76%) resonated with collectors rediscovering early-2000s icons.
Louis Vuitton x Murakami High Rise Bum Bag – 142%
Louis Vuitton x Murakami Pochette Accessoires Nm – 130%
Louis Vuitton x Murakami Speedy Bandouliere Nm Bag – 123%
Hermès – 138% retention (+38% increase from 2024)
Goyard – 132% retention (+28% increase from 2024)
The Row – 97% retention (+24% increase from 2024)
Hermès Birkin
Fendi Baguette
Chanel Classic Flap
Van Cleef & Arpels – 112% retention (+9% increase from 2024)
Rolex – 104% retention (+4% increase from 2024)
Cartier – 87% retention (+4% increase from 2024)
Rebag’s 2025 Clair Report contains research and data from Clair, Rebag’s proprietary appraisal index that uses factors including retail price and demand to determine item pricing for cash or credit. The report reflects data from the trailing 12 months to identify the biggest movers in the luxury resale market.