Hermès Mini Kelly: Modern Must-Have
Learn more about the most popular and highly collectible Hermès Mini Kelly 20.
History of the Hermès Mini Kelly
The earliest known Hermès Kelly Mini dates from 1957 and was produced with a mid-length shoulder strap. The iconic round top-handle that has led collectors to dub it a bracelet handle wasn’t seen until 1980. It would be another ten years before Hermes would introduce the Mini Kelly 20 in Retourne construction, a model that is exceedingly rare today. Hermès discontinued the Mini Kelly in 2009, although examples after 2004 are extremely rare. In response to the growing demand for mini bags, Hermès introduced the Mini Kelly 20 II. The new version was redesigned with a top-handle and depth that were both reduced. Mini Hermès Kelly bags never came with locks, keys or clochettes, though shoulder straps have been seen on the models since their inception.
Key Takeaways: Hermès Mini Kelly 20 Overview
| Feature | Takeaway |
| Origins & Evolution | First Mini Kelly dates to 1957; the Mini Kelly 20 II was reintroduced in 2016 to meet modern demand for mini bags. |
| Design | Defined by its bracelet-style top handle, compact proportions, and absence of lock, key, or clochette. |
| Vintage vs Modern | Mini Kelly I is rarer and slightly larger; Mini Kelly 20 II is more refined, slimmer, and widely collected today. |
| Material | Epsom leather is the most sought-after for daily wear, structure, and long-term value retention. |
| Exotic & Diamond Bags | Alligator Mini Kelly is the most collectible exotic; diamond versions represent the pinnacle of rarity. |
| Limited Editions | Special releases like Picnic, Teddy, Shadow, and Cargo drive short-term spikes, then normalize over time. |
| Market Momentum | Demand for Mini Kellys remained strong in 2025, with unit sales up 16% year over year and 25% versus 2023, supporting stable secondary-market pricing around $30,000 for leather Mini Kelly 20 II bags. |
| Collector Appeal | Considered a modern Hermès icon, prized for scarcity, versatility, and strong secondary-market liquidity. |
Vintage Sellier Mini Kelly: The Original Mini Kelly
Surprisingly, the original Hermès Mini Kelly was not much of a hit during its debut era. Though beloved by fashion-forward icons like Elizabeth Taylor – who had three in her collection – the Mini Kelly was generally too small for most women, especially in a time when big bags reigned supreme. Generally considered a novelty, the Mini Kelly could easily be purchased for under $10,000 in leather, and exotic versions did not command much more. That is, up until 2018, when the new Hermès Mini Kelly 20 II first came to auction. Since then, values for the rare and highly collectible vintage Mini Kelly I bags have increased in recent years to keep pace with their new mini version. While there are far fewer original Mini Kelly bags at auction, they remain popular with some collectors. Since vintage Mini Kelly bags are extremely rare in excellent or pristine condition and remain popular at auction with leather bags generally selling for around $15,000 to $20,000 and crocodile bags selling for around $25,000 to $30,000.
The most expensive Mini Kelly sold at Replica Shoes 's was a vintage 1997 Crocodile Rose Bonbon Mini Kelly. It sold for a record $156,000 in the Art of Collecting Handbags, The Visionary Collection of Joseph Lau.
Hermès Mini Kelly 20 II: A Modern Must-Have
In 2016 Hermès released a new version of the Mini Kelly 20 with a slightly updated design. The original Mini Kelly 20 is slightly larger in terms of height and depth with a strap that is also shorter than the new version released in 2016. As of 2026, the Mini Kelly 20 II in Epsom leather retails for approximately $11,400 in the United States and €8,000 in Europe, while alligator versions retail in the $35,000–$37,000 range depending on finish. On the secondary market, the leather Mini Kelly 20 II sells more about 3x the retail price or $30,000 if the bag is in pristine condition. While the leather Mini Kelly 20 II remains the most popular, Hermès offers a full range of Mini Kelly bags in exotic materials, limited edition variations and the ability to customize a bag. This sustained demand is reflected in market performance, with Mini Kelly unit sales rising 16% in 2025 compared to 2024 and 25% versus 2023, reinforcing its status as one of Hermès’ strongest-performing modern handbags.
Leather Hermès Mini Kelly
The most popular Hermès Mini Kelly 20 II bags are in Epsom leather. These bags in store fresh condition sell for about $30,000 on Buy Now and from $25,000-$30,000 at auction depending on the color, condition and date stamp. The newest Hermès colors in pastels or classic Hermès neutrals often sell at the highest price, while brighter colors like Red, Green or Pink often sell at lower prices. HSS Mini Kelly bags in multiple colors are often most popular in neutral combinations or pale pastel colors mixed with neutrals versus bright colors. There are significantly more Hermès collectors seeking neutral and pastel colored Mini Kelly bags in leather than the bright colors. This color preference by collectors is consistent for most Hermès bags by most collectors.
Exotic Hermès Mini Kelly
Hermès Mini Kelly 20 II are available in all exotic materials including lizard, ostrich and alligator. Hermès also recently started making a Touch Version of the Mini Kelly that has a leather body and handle and sangles made from exotic material. The most desirable exotic Mini Kelly 20 II is Alligator and prices are comparable for both Matte and Shiny Alligator. The Gris Perle and Kraft Matte Alligator Mini Kelly sold for just over $196,000 in 2022 remains the most expensive Mini Kelly sold by Replica Shoes 's to date without diamonds. As the availability of Alligator Mini Kelly 20 II bags has increased the prices have settled much closer to the retail price of $35,000 to $37,000. While a store fresh or pristine condition Alligator Mini Kelly 20 II still sells for a premium to retail, in general it is less than 2x the boutique price.
Diamond Hermès Mini Kelly
In 2023, Replica Shoes 's sold Hermès Mini Kelly in Black Shiny Crocodile with Diamonds for about $215,000. Hermès Diamond bags are the ultimate collector bag since so few are made and even fewer come to the secondary market. Replica Shoes 's sold more diamond bags in 2023 versus 2022 but the overall number of Hermès diamond bags remains incredibly small. These very special bags appeal to collectors that already have a number of exotic bags in their collection and want to add even rarer bags to their collection.
Limited Edition Mini Kelly Variations
Since introducing the Mini Kelly 20 II in 2016, Hermès has released several highly sought-after Limited Edition variations. The first of these, the Mini Kelly Picnic, remains a collector favorite, consistently fetching between $50,000 and $60,000 at auction. When Hermès introduces new colors, prices often exceed $60,000 within a year of release.
One standout Limited Edition, the Black Tadelakt and Wood Marquetry Cheval de Bois Mini Kelly II 20 with Palladium Hardware, recently sold for 42,000 USD at Replica Shoes ’s Origins auction in February 2025.
The newest Limited Edition bags include the Studded Mini Kelly and the Mini Kelly Teddy have been selling around $45,000 to $60,000, with the most expensive Mini Kelly Teddy selling for 72,000 USD in February 2025. As Hermès creates new Limited Edition Mini Kelly versions, prices for older Limited Edition bags tends to drift lower unless a new color is released for a Limited Edition bag.
Hermès Mini Kelly Retail Pricing (2022–2026)
| Size | Material/ Type | 2026 | 2025 | 2034 | 2023 | 2022 |
| Mini Kelly II | Epsom Sellier | $11,400 | $10,500 | $9,400 | $8,700 | |
| Mini Kelly II | Epsom Electrum | — | $10,700 | — | — | — |
| Mini Kelly II | Mysore Chèvre | — | $10,800 | $10,100 | $9,450 | $8,900 |
| Mini Kelly II | Metallic Chèvre Chamkilight Doré | $14,300 | — | $11,600 | — | — |
| Mini Kelly II | Box Calf | — | $14,500 | $10,000 | — | — |
| Mini Kelly II | Quelle Idole Doll (Swift) | — | $14,800 | — | — | — |
| Mini Kelly II | Quelle Idole Picto Doll | — | $19,900 | $17,600 | $15,900 | — |
| Mini Kelly II | Lizard | $24,600 | $24,600 | $23,400 | — | — |
Hermès Mini Kelly Price
Prices for leather Mini Kelly 20 II at auction have remained pretty stable since early 2021 at around $30,000. This price stability has been supported by rising demand, with Mini Kelly unit sales increasing 16% in 2025 versus 2024 and 25% compared to 2023, even as auction volume expanded. Top performing leather Mini Kelly 20 II bags at auction tend to be Nata or Craie color or new Hermès pastel colors. The most expensive leather Mini Kelly sold at auction in 2024 was a Craie colored Mini Kelly in Epsom leather with Permabrass Hardware for 45,600 CHF. While more leather Mini Kelly bags sold under $30,000 in 2024 versus 2021 and 2022, the number of bags sold at auction has also grown. Prices on Replica Shoes 's marketplace have remained pretty stable at around $30,000 for pristine Mini Kelly 20 II bags with recent date stamps. Looking ahead to 2025, we anticipate prices for Mini Kelly bags in new Hermès pastel colors to sell at a premium compared to older bright colors while neutral colors should remain stable near $30,000 at auction and marketplace. Prices for Limited Editions Mini Kelly bags tend to fall quickly from the initial peak reached when the bags first come to the secondary market and can drift lower as most dedicated collectors focus on the newest Limited Edition.
Frequently Asked Questions About the Hermès Mini Kelly
What is the difference between the Mini Kelly 20 I and Mini Kelly 20 II?
The Mini Kelly 20 I is a vintage model that is slightly taller and deeper, with a shorter strap and far greater rarity today. The Mini Kelly 20 II, introduced in 2016, has a slimmer profile, shorter handle, and updated proportions suited to modern styling. While both are collectible, the 20 II dominates today’s market due to availability and demand.
How much is a Hermès Mini Kelly 20?
As of 2026, the Mini Kelly 20 II retails at approximately $11,400 in Epsom leather in the United States and €8,000 in Europe, with alligator versions retailing around $35,000–$37,000. On the secondary market, store-fresh leather examples typically sell for around $30,000, while pristine alligator versions trade at a more modest premium over retail. Diamond and rare limited-edition Mini Kelly bags can exceed $200,000 at auction.
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