New Delhi, Oct. 26 -- For years, owning a Hermes Birkin bag was about more than carrying an expensive handbag. Its limited availability made it a status symbol, while the prospect of selling it at a substantial profit turned it into an alternative investment for some buyers. That equation, however, is beginning to change.

London-based reseller Cai Baochun, who began selling Birkins online and through social media in 2020, has stopped stockpiling the bags as second-hand prices weaken. "I don't want to lose money," he told Reuters.

According to Reuters, the resale value of unworn Birkins has fallen by more than $6,000 from its 2022 peak, reflecting a market where increasing availability is putting pressure on the premium buyers once paid ...