Last week, Sotheby’s Paris auctioned off the very first Hermès Birkin bag, Jane Birkin’s personal prototype, for a staggering €8.6 million (about $10.1 million USD). This astronomical sum for an accessory is a market indicator. Collectors and dealers are testing the ceiling of fashion as an investment.

This wasn’t just any Birkin. This was the Birkin, the bag that Jane Birkin and Hermès CEO Jean-Louis Dumas sketched together on an airsickness bag during a flight in 1984. The prototype was gifted to Jane in 1985 and used for nearly a decade. It shows real wear: her initials etched in, UNICEF stickers still applied, and even a nail clipper dangling from the handle. Unlike any production Birkin, it combines features from multiple models and includes a unique fixed shoulder strap and brass hardware. 

It’s a one-of-one. A relic. A holy grail. 

Nine bidders fought over it. After ten minutes, it sold to Shinsuke Sakimoto, founder of Valuence—a resale platform known for treating fashion as a serious collector category. According to him he doesn’t plan to flip it. The bag will live in a climate-controlled display, treated with the reverence of a Warhol or a Basquiat. 

$10.1 million is by far the highest price ever paid for a handbag at auction—nearly 20x the previous record for a Hermès Kelly.

So What’s Driving the Market?

-Scarcity: Hermès produces limited quantities, fueling demand. Waiting lists for Birkins stretch years.

-Provenance: Jane Birkin’s ownership and everyday use make this bag the equivalent of Lennon’s guitar or Jordan’s sneakers.

-Cultural status: The Birkin isn’t just a bag. It’s a symbol of wealth, rebellion, and quiet luxury all at once.

-Returns: The Birkin has historically outpaced gold, the S&P 500, and fine art in terms of value appreciation.

Can we use this as a market indicator for other vintage apparel?

Though the Genie tee failed to cross into blue-chip territory, other celebrity owned pieces have. Michael Jordan owned sneakers have sold for over $2 million, Paul Newman’s Rolex Daytona sold for nearly $18 million and Kurt Cobain’s tattered Levi’s sold for over $400k–a number that’s starting to sound like a good deal. This sale positions celebrity owned vintage clothing alongside classic cars, fine watches, and contemporary art as a long-term investment vehicle.

The next big step will be investors buying into asset class vintage without provenance, once wall street and art collectors start buying Brit Eaton’s mine found denim vintage will see a boom like never before.