ALT/FNDATA · Market Report
Q3 2025 Report: The Secondary Market for Luxury Handbags
Auction-realized prices and the luxury-equity backdrop
The year's quietest quarter eased further: September carried almost all of the value, Hermès took roughly 93% of it, and the very top held flat even as the aggregate softened, the barbell that would define the year already forming.
The headline
The correction in three numbers
−9%
Auction value, YoY
Q3 sold-auction value eased from $8.6M to $7.8M (−5% like-for-like)
$165,100
Top lot, level YoY
A matte alligator Hermès at Christie's; the 2024 top was $163,800
93%
Hermès share of value
$7.25M of $7.8M cleared, across 377 sold lots
Auction-realized prices: what luxury handbags actually sold for at the hammer, not asking prices. · 10M+ auction results · 100+ houses.
The read
What the data shows
A near-dormant summer left everything to September, which booked roughly $7.4 million of the $7.8 million quarter. The market eased about nine percent year over year, but its structure was unchanged: Hermès held some ninety-three percent of value, with Louis Vuitton and Chanel dividing a thin remainder. The pinnacle stayed firm, a matte alligator Hermès leading at $165,100, essentially level with the prior year. Two flagship houses, Sotheby's and Christie's, again cleared the overwhelming majority of the value.
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- The full month-by-month auction breakdown (July to September)
- The luxury-equity backdrop: the majors dispersed in Q3 2025
- Concentration: where capital actually cleared (Hermès and the flagship houses)
- Methodology and how to cite the data
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