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Story summary
- United Kingdom reseller Cai Baochun reports Birkin resale prices have fallen over $6,000 since 2022.
- Six of nine surveyed resellers note lower resale prices and softer demand over the past year.
- Bernstein reports Birkin 25 resale multiples fell to 1.7× retail in Q3, down from 2.6× at the 2022 peak.
- UBS analysts downgraded Hermès to “sell” citing rising secondary-market supply that could weaken its scarcity model.