Which luxury handbags have gained the most value between 2020 and 2025?
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As gold and silver prices have increased steadily over the last five years, many high-net-worth individuals have been making other strategic investments outside the financial markets. Investing in everything from fine art and rare coins to luxury fashion, a new study from FashioNica, an online platform specializing in the sale of authentic, high-end vintage designer handbags and accessories, has found that some (unsurprisingly) of the most appreciating fashion items over the past five years are in fact luxury handbags.
The study looked at price data from brand price guides, auction results, and resale market platforms to calculate both dollar and percentage increases. Analyzing luxury items across handbags, sneakers, jewelry, and watches, the study identifies which pieces gained the most value between 2020 and 2025.
Luxury handbags as investments:? New study analyzes top appreciating styles 2020-2025
Examining 20 luxury fashion items in total, tracking their retail and resale prices to measure how collector demand and brand pricing affected value over a five-year period, seven of the top ten luxury items listed were found to be handbags, with the Chanel Classic Flap Bag taking first place.
Reflecting a price increase of 93 percent between 2020 and 2025, the Chanel Classic Flap Bag was the fastest-appreciating fashion piece, taking the top spot from the Hermès Birkin bag. Jumping from 5,850 US dollars to 11,300 US dollars, the Medium/225 size in particular has become increasingly hard to find at retail, pushing demand into the resale market where prices continue to soar.
On average, Hermès Birkin bag prices were found to increase 14 percent in value each year, ahead of the S&P 500, but the study found that other luxury handbags perform even better.
In second place is the Louis Vuitton x Supreme collaboration Trunk, highlighting the largest dollar increase of any item studied. The Malle Courrier 90 Trunk, which retailed for 85,000 US dollars in 2020, jumped to 149,500 US dollars in 2025, adding 64,500 US dollars to its value. Equal to an increase of 76 percent, this price is likely driven by the historic nature of the 2017 collaboration and limited availability.
In fourth place is the Hermès Birkin 35 bag in Porosus crocodile leather. An ultra-limited edition style, this handbag increased 73 percent in value, going from 37,000 US dollars in 2020 to 64,000 US dollars in 2025. In addition to its rare availability, its black exotic leather also adds to the high price tag, as these versions remain among the most expensive in the Hermès line.
The Chanel Graffiti Backpack from 2014 takes fifth place with a 67 percent price increase. Launched as a runway novelty piece, this backpack went from retailing for 9,000 US dollars in 2020 to 15,000 US dollars in 2025. Limited production of this graffiti-style piece has driven collectors to pay substantially more than the original retail price.
Sixth is Van Cleef & Arpels' Vintage Alhambra 10-motif necklace in 18k yellow gold, with a price increase of 46 percent from 7,000 US dollars to 10,200 US dollars. The design, which dates to 1968, remains in production with steady price increases.
Taking seventh place is the Hermès Kelly 35 in black Togo leather, rising 42 percent in price from 10,500 US dollars in 2020 to 14,900 US dollars in 2025. Dating to 1956, the bag's durable Togo leather and black colorway, the most desired in resale, have driven price growth.
In eighth is Chanel's Old Medium Boy Bag, growing 40 percent in price from 5,000 US dollars to 7,000 US dollars. Introduced in 2011, its structured design and chunky chain offer an edgier alternative to classic styles.
Securing ninth place is the Hermès Birkin 25 in Togo leather, up 35 percent in price from 9,400 US dollars in 2020 to 12,700 US dollars in 2025. The compact size appeals to daily wearers, with smaller Birkins outperforming larger ones.
Lastly, in tenth place is the Fendi Baguette (1997 "Carrie Bradshaw" model), whose price increased 34 percent from 2,690 US dollars in 2020 to 3,600 US dollars in 2025, likely driven by renewed interest in 90s fashion.
"The global secondhand luxury goods market is expected to reach 51 billion in USD by 2026, with handbags accounting for nearly 40% of all transactions," said Nica Yusay, CEO at FashioNica, in a statement. "People are now buying bags from Chanel, Hermès, and Louis Vuitton the same way they'd buy stocks or bonds. The sneaker market, meanwhile, has cooled off considerably. Shoes that were selling for 10 or 20 times retail in 2020 are now trading much closer to their original prices as supply has increased."