Hermès Kelly 32: Price and Market Value

The Kelly bag and the Birkin are two of Hermès' most iconic handbags. Their elegant silhouette has made them highly coveted by many women.

The price of the Kelly 32 was revised in February 2024. If you're considering purchasing one, you’re likely curious about its latest reference prices.

In this guide, we’ve compiled the reference prices for the Kelly 32, categorized by material, to help you make an informed decision. Additionally, we’ll explore fascinating stories behind the Kelly 32, the key differences between the Kelly and the Birkin, and the best ways to purchase a Kelly 32.

What is the Retail Price of the Kelly 32?

The Kelly 32 is available in various materials, each influencing its price. Below, we break down the reference prices by material.

1. Togo

Reference Price: $11,500 USD

Togo, officially known in French as cuir de veau Togo, is made from calfskin. It was first introduced to Hermès bags in 1997 and has since become one of the brand’s most popular leather choices. The Kelly 32 Togo is crafted using this type of leather.

Togo leather is renowned for its smooth texture, which is characteristic of calfskin. It is also durable and easy to handle. Over time, it develops a unique patina, making each Kelly 32 distinct to its owner.

From a fashion perspective, Togo leather pairs well with any style. Its subdued color tones make it easy to match with various outfits. Togo is a highly recommended choice if you plan to use your Kelly 32 frequently.

2. Taurillon Clemence

Reference Price: $11,500 USD

Taurillon Clemence is a bull leather known for its soft, supple texture. It has a comfortable, slightly slouchy feel and is one of the most commonly used Hermès leathers.

This material adds a graceful, relaxed silhouette to the Kelly 32, making it particularly popular among women. While it resembles Togo leather, Clemence has a slightly larger grain. Interestingly, the grain size can vary depending on the production year, giving each Kelly 32 Clemence a unique appearance.

Like Togo, Clemence is highly durable and resistant to abrasions. However, it is more susceptible to water damage, so it’s essential to wipe off any moisture immediately to maintain its condition.

Clemence leather has a soft, matte sheen and is available in a range of colors that suit casual and formal outfits.

3. Veau Epsom

Reference Price: $12,200 USD

Introduced in 2004, Veau Epsom—often called simply "Epsom"—is a pressed bull leather with a fine grain texture. Since its debut, it has gained widespread popularity, becoming a staple Hermès leather alongside Togo and Clemence.

Epsom leather is known for its firmness and structure, making it highly resistant to losing shape. Epsom is an excellent choice if you prefer a Kelly 32 with a crisp, structured look.

Epsom leather has a bright, vivid yet matte sheen, and its colors tend to appear lighter and more vibrant than those of other leathers. If you’re looking for a Kelly 32 in a striking, eye-catching hue, Epsom leather may be ideal.

Due to its structured look, Epsom works particularly well for formal occasions.

4. Box Calf

Reference Price: $13,700 USD

Box Calf leather is sourced from male calves aged 3 to 6 months and is known for its exceptionally fine grain and soft texture. Among Hermès leathers, it is one of the most luxurious. Box Calf production has decreased in recent years, increasing its rarity and reviving its popularity.

The leather features a glass coating that gives it a glossy, lustrous finish. Since it is not embossed, the surface remains exceptionally smooth. However, this smoothness also makes it prone to scratches and scuffs, which can be quite visible. That said, the leather is strong, preventing deep scratches, and is relatively easy to repair. Additionally, thanks to its glass finish, it resists water penetration.

Because Box Calf is highly durable and easy to restore, it maintains its beauty for years with proper care. If you appreciate vintage luxury or seek a sustainable investment piece, this leather is an excellent choice.

5. Veau Swift

Reference Price: $20,100 USD (Toile H Berline & Swift)

Veau Swift, often referred to simply as "Swift," is a male calf leather introduced in 2006 as the successor to the discontinued Veau Gulliver. Its name is inspired by Jonathan Swift, the author of Gulliver’s Travels.

Swift leather is exceptionally soft, smooth, and slightly elastic, providing a pleasant, almost velvety feel. Due to its delicate nature, it is more prone to scratches, but minor marks become less noticeable with proper care over time.

One of Swift leather’s standout features is its exceptional color vibrancy. It expresses a full spectrum of hues, from soft pastels to bold, vivid tones like bright yellow and pink.

While classic colors like black and gold are always elegant choices, a Kelly 32 in Swift leather offers an excellent opportunity to experiment with unique shades that stand out.

Kelly 32: The Story Behind Its Creation

The Kelly 32 is one of Hermès’ most iconic and sought-after handbags, named after Princess Grace Kelly of Monaco.

Originally, Hermès was a saddlery workshop. In 1892, the brand created the Haut à Courroies bag to carry equestrian gear. This bag was later redesigned into a more elegant version for women, known as the Sac à Courroies. Grace Kelly, the former Hollywood actress and princess, was particularly fond of this bag.

The fate of the Sac à Courroies changed in 1956 due to a particular incident. While pregnant, Grace Kelly used the bag to shield her baby bump from paparazzi. A photograph of this moment was featured on a magazine cover, drawing widespread attention, not only to the princess but also to the handbag she carried.

As the bag became synonymous with Grace Kelly, Hermès officially renamed it the “Kelly” with the approval of the Monaco royal family. Interestingly, the exact bag she used to conceal her pregnancy was a size 32, making the Kelly 32 the very model that made history.

How Does the Kelly 32 Compare to the Birkin 32?

The Kelly 32 and the Birkin 32 differ in size, structure, and price. Both are flagship Hermès bags with their own Himalayan versions, yet each has a distinct impression: the Kelly appears more formal, whereas the Birkin has a casual elegance. But what creates this distinction? Let's take a closer look at their differences.

Size Differences

The Kelly 32 measures 32 cm wide x 23 cm high x 12 cm deep, making it a convenient size that can even fit a 500ml water bottle. Interestingly, Hermès does not produce a Birkin in size 32—the closest equivalent is the Birkin 30, which measures 30 cm wide x 22 cm high x 16 cm deep. This indicates that while the width and height are roughly similar, the Birkin 30 has more depth, reinforcing its reputation for superior storage capacity. Additionally, the Kelly lineup offers more size variations than the Birkin.

Structural Differences

One key distinction lies in the handles: the Kelly has a single top handle, whereas the Birkin has two. Additionally, because the Kelly's handle is attached to the top flap, it must always be used with the flap closed. In contrast, the Birkin can be carried open, making it more convenient for those who frequently access their belongings. The Kelly also includes a detachable shoulder strap, adding versatility for hands-free wear.

Price Differences

Pricing varies depending on materials and other factors, but the Kelly 32 typically ranges from around $11,500 USD〜$20,800 USD, while the Birkin 30 starts at around $11,100 USD. Both models continue to rise in price annually, reflecting their status as timeless investment pieces.

While both the Kelly 32 and the Birkin are coveted by women worldwide, comparing their features highlights intriguing distinctions.

The Best Ways to Buy a Kelly 32

If you’re looking to purchase a Kelly 32, there are two recommended options: buying directly from a Hermès boutique or purchasing from a luxury resale store. Let’s explore both.

Buying from a Hermès Boutique

The first option that comes to mind is purchasing from a Hermès store, which is undoubtedly the most secure way to buy an authentic Kelly 32. However, simply walking into Hermès does not guarantee availability. Due to high demand, boutiques may not have stock, and when they do, pieces often sell out quickly. Even if you find a Kelly 32, it may not be in your preferred color or material.

One strategy is to become a frequent Hermès shopper, as loyal customers may receive priority notifications when new stock arrives. However, developing this level of rapport with sales associates requires substantial spending, making it an impractical approach for many buyers. Because of these challenges, purchasing a Kelly 32 directly from Hermès can often be more difficult than it seems.

Buying from a Luxury Resale Store

Another excellent option is purchasing from a reputable luxury resale store. These stores often have Kelly 32 handbags in stock, and unlike boutiques, they offer a wider selection of colors, materials, and stitching styles (Retourné or Sellier).

Some may hesitate to buy from resale shops due to concerns about authenticity, but trusted retailers like Gallery Rare offer peace of mind. Established in 1979, Gallery Rare has built a strong reputation and conducts rigorous authenticity checks—sometimes up to seven times—to ensure customers receive genuine products.

For those hesitant about pre-owned bags, it’s worth noting that many resale stores also carry unused (never-worn) Kelly 32s. If you prefer a brand-new piece, seeking an unused item in the resale market is a great alternative.

If you purchase a Kelly 32, visiting a Hermès boutique is a logical first step. However, if you don't find your ideal bag there, a high-quality resale store is a smart and efficient alternative.

How Much Is the Resale Value of a Kelly 32?

The resale price of a Kelly 32 depends on factors such as material, condition, and market demand. Recent data from Gallery Rare shows that Kelly 32 handbags have sold for anywhere between $2,400 USD〜$13,900 USD, showcasing significant variation based on rarity and condition.

For instance, a Kelly 32 in Etoupe Taurillon leather (with no structural or other damage), hard to find in a physical store, recently sold for $10,800 USD. Meanwhile, a Kelly 32 Vibrato/Barenia in near-new condition fetched $13,900 USD due to its rarity and pristine state.

Resale prices fluctuate depending on trends and availability. Generally, newer models and well-maintained bags command higher prices. Bags that are hard to find, in high demand, or featuring trending colors/materials also tend to appreciate value.

If you own a Kelly 32 and are considering resale in the future, maintaining it in pristine condition will maximize its value. Additionally, if you have a Kelly 32 sitting unused at home, it may be worthwhile to get a professional appraisal and explore your resale options sooner rather than later.

Conclusion: Retail Price of the Kelly 32

• The estimated 2024 retail price for the Kelly 32 ranges from around $11,500 USD〜$20,800 USD.
  
• The Kelly 32 is famously associated with Princess Grace Kelly of Monaco.
  
• The Kelly 32 and Birkin 32 differ in size, structure, and price.
  
• While purchasing from a Hermès boutique is ideal, trusted pre-owned retailers are also great.
  
• The resale value of a Kelly 32 varies significantly based on condition and rarity.
  

This article explored the Kelly 32’s retail price, history, key differences from the Birkin, and the best ways to purchase one.

Renowned as one of Hermès’ most iconic and coveted bags, the Kelly 32 rose to global fame after being embraced by Princess Grace Kelly of Monaco. Its immense popularity makes it difficult to find in boutiques, and even when available, it often sells out quickly. Sourcing a specific material or color is especially challenging, making trusted pre-owned retailers a valuable alternative. We encourage you to consider different purchasing options to find the perfect Kelly bag.

*Please note that the prices listed in our blog are for reference only and are converted from Japanese Yen (JPY) to US Dollars (USD) using the exchange rate of April 2025. Prices on the sales site include customs duties and shipping fees. Actual exchange rates may vary.