Orange Peel

The Brief

The week on the desk

Brand-comms moves, the translated China Desk, and what our own Offer Graph did this week — the intelligence you can't assemble yourself, in one weekly read.

Issue 2026-W37

The Lead

Buy-abroad watch: Italy nets ~$2,953 off a Birkin 25 Togo vs the US (tax refund)

Tax-refund routing on cited US list prices: best current route per config in the desk. EUR +0.1% vs USD this week (less favorable abroad). Estimate -- tax effect only; per-country boutique list prices are not modeled.

Source · FX: open.er-api.com (exchangerate-api.com), free daily USD base, 2026-09-08

Brand Comms Desk

hermesMedian move2026-09-07

Kelly 28 median ask down 7% to $18,485 (n=12)

The median ASKING price for Kelly 28 across our tracked resale sources moved down ~7% to $18,485 (was $19,790; n=12 this week vs 11 prior). Asks, not sold prices.

Source · Orange Peel resale index (asks), 2026-09-07

Peelers read all 13 Brand Comms Desk items →

Market movers

Secondhand premium sits near 1.4× retail, down from 2.2× at the 2022 peak (Bernstein, all Birkin/Kelly). Strongest holds: Mini Kelly II ~2.9× · Birkin 25 Togo ~2.1× · Kelly 25 Epsom Sellier ~2.0×. Softest: Birkin 25 Crocodile ~1.1×.

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Every item summarised and linked to its source; excerpts are our own ≤50-word paraphrase or translation. Estimates are labelled. Orange Peel is an independent publication, not affiliated with Hermès.