The news that Jane Birkin’s original Hermès bag has sold for a record-breaking €8.6m (£7.4m) at auction will no doubt cause some jaws to drop to the floor. However, perhaps it should not surprise – this is a bag design that is often linked to eyewatering amounts of money. Forty years on from the prototype, it’s now less a (very expensive) symbol of style and elegance, and more a way to signal you have a lot of money and you would like everyone to know that.
A Birkin has always been expensive – about $10,000 (£7,400), according to the Guardian last year – but the complicating factor is demand. As was reported, two California residents sued Hermès for a practice known as “tying”, which means customers are expected to pre-spend a sufficient amount on other items, such as homewares or jewellery – some say up to $30,000 – before they are even put on the waiting list for a Birkin. Therefore, wearing one on your arm – to those in the know – shows you have the disposable income that not only means you can buy the bag, but also go through with this practice in the first place.
