Is an Hermès scarf an investment: reality or fantasy?
"An Hermès scarf is an investment," is a phrase I often hear. But what's the reality? Can we expect our scarf to maintain or even increase in value over time?
What Auction Sales Show
Some results are indeed astonishing. In 2011, an Hermès scarf named Pékinois, dating from 1959 and estimated between 1,200 and 1,500 euros, sold for 4,300 euros. In 2021, another scarf named Perspective, dating from 1951 and estimated between 120 and 150 euros, sold for 3,900 euros. On specialized platforms, the price range for an Hermès scarf can go from 70 euros to several thousand euros for the rarest pieces.
These spectacular examples largely explain the reputation of the Hermès scarf as an investment. But they remain exceptional cases, not the market norm.
What Truly Makes a Scarf's Value Vary
An Hermès scarf is not a standardized financial investment: its value depends on a precise set of criteria.
The model and design: some designs have become iconic, and their popularity mechanically drives up demand.
Age: old scarves, especially those that have never been reissued, are often the most sought after.
Condition: a spotless scarf, without snags, with intact rolled edges and fresh colors, appreciates significantly better than a piece marked by wear.
Rarity: advertising scarves or those produced in very small quantities generate particular interest among collectors.
Provenance: the presence of the original box or a clear ownership history also contributes to its value.
What about the majority of scarves?
There is a constant regarding the price of new Hermès scarves: their price increases by 2% to 5% every year!
The admittedly purely speculative idea of buying a scarf designed by a renowned artist and keeping it for several years or decades is valid. Far be it from me to encourage this practice, but it is a market reality. In any case, the scarf retains a large part of its value upon purchase, which is considerable!
But Emmanuel, I think Hermès scarves will significantly increase in value! How can I take advantage of this?
For those who wish to buy an Hermès scarf with the idea of future appreciation in mind, I'll let you devise your diabolical plan on your own; I am not an investment advisor. For me, the pleasure of collecting comes first!
Frequently Asked Questions
Does an Hermès scarf really increase in value? Some rare and well-preserved models do, but the majority of scarves resell for an amount close to or less than their new purchase price.
What is the record price for an Hermès scarf at auction? Exceptional sales have reached several thousand euros for rare models, such as the Pékinois scarf that sold for 4,300 euros in 2011.
What criteria affect the value of a scarf? The model, age, condition, rarity, and provenance are the five main criteria.
Should one buy an Hermès scarf solely for investment? You can do so, but it's better to buy it primarily to wear and appreciate it, or for collection purposes.
