- The economy may be tough for most, but one shopper in South Africa purchased a second-hand Hermès Birkin handbag for R280,000.
- Barely 10 minutes after it was listed.
- Retailer Luxity just listed another Hermès, which is going for R250,000.
- The demand for preowned luxury in South Africa is growing, Luxity says.
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While consumers battle the current inflationary pressures of South Africa’s economy, luxury second-hand goods store Luxity managed to sell a second-hand handbag for almost R300,000, within minutes.
The black Hermès Fjord leather Birkin handbag had an asking price of R280,000 and was sold just eight minutes after being listed on Luxity’s online store, it said.
The handbag features a rolled leather top, handles, a cross-over flap, and a strap featuring a palladium silver turn lock.
Last year, amid the pandemic, Luxity sold another Hermès Birkin for R220,000. That one was snapped up in two minutes.
The growth in demand for luxury goods in South Africa is driven by an aspiring middle class, Michael Zahariev, Luxity co-founder of Luxity, said.
He said the speedy sale of the Fjord Birkin and other big-ticket items could be attributed to the middle-class having more financial access.
The most expensive handbag listed on Luxity’s website currently is a Hermès purse, the Swift leather Kelly Pochette Étoupe which costs R250,000. It is the petite iteration of the Kelly bag, which is said to be one of the world’s most sought-after handbags. The handbags aren’t easily accessible and can have waiting lists stretching six years.
According to the retailer’s latest report on the country’s luxury pre-owned goods market, sales have been growing across all product categories.
Many are adopting preowned because they are more easily accessible and allow shoppers to own rare items ordinarily unavailable as new goods in the country, it said.