Hermès Picotin Lock 18 sold for CNY 26,000 — Beijing handbag buy-back case, August 2026

When Ms Chen carried a Picotin Lock 18 into the Beijing boutique, the bag still looked barely bought. She had used it little since and simply kept it, and had now decided to sell. Once inside, she asked two things: whether condition like this would actually show up in the offer, and where this line currently sits on the secondary market. She did not want a rough number up front — she wanted to see how the price is built up a layer at a time.

Ms Chen’s bag sold at CNY 26,000, with two things pushing up: the colour is black, one of the three neutrals, so there is no shortage of buyers; and the condition was Grade S, with no visible wear on the leather and the lock, body and handles all as they left the factory. Size counts as a credit too — the 18 does not come through in great numbers and demand for it is concentrated, so it usually quotes above the 22. It is harder to find in stock at retail as well, and harder still in good condition.

The price was not ours to set — it came from trade buyers bidding in the same window on the platform. The offer sheet was laid out line by line for the client, and which one to take was hers to decide. The Picotin Lock runs through handbag buy-back. Retail never posts a price for it, and the secondary landing point drifts day to day with who is buying. There is no price list to copy. (Market figures reflect publicly available data.)