16 Hermes Birkins Stolen: A USA high-end luxury handbag reseller lost $1 million due to theft
On the 14th of December the burglars swiped about 16 Hermes handbags valued over $100,000 each from the high-end Palm beach store called Only Authentics.
These were not just ‘simple’ Hermes handbags. These were collectible items worth much more than just ordinary Hermes handbags.
Only Authentics store owner Virgil Rogers claimed that the value of the stolen accessories is around $1 million. Putting together this collection took him 30 years.
The most expensive items from this collection was a $89,000 green crocodile Hermes Kelly bag and a $110.000 Vert Boshphore Birkin.
Alex Piquero, a criminologist at the University of Miami, said this was likely the work of some type of organized criminals.
“These are gonna be sold on eBay any time soon. What usually happens is that there is already a market outside the distribution zone. We know that Hermes bags, Louis Vuitton, Gucci… There are countless people who want to get them legitimately. But there are also are also countless people who are willing to pay top dollar of the black market,” Piquero said.
An average Hermes Birkin handbag costs somewhat around $17,000-$20,000. However, there are rare exclusive editions, including ostrich and croco handbags. To be eligible to get this item in the store, you need to be a long-term customer with store purchase history over hundreds of thousands USD.
This is not the first time luxury handbags are being targeted. As resale is still on the surge, there have been reports that luxury items often attract criminals as something they can steal away from retailers and get away with it.
On November 22nd, 80 people stormed the Nordstrom in San Francisco making off with what they could.
Since the start of the pandemic, the National Retail Federation says smash-and-grab burglaries have gone up 57%. Retailers are losing an estimated $45 billion annually due to such incidents.
Do you think these assaults have anything to do with the pandemic?
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