Designer handbags, especially Hermés Birkin Bags, are known to cost into the six digits, but one record-setting sale had a pricey handbag selling for the price of a decent house in Los Angeles.
After an intense 10-15 minutes bidding war at a Christie’s auction in Hong Kong last Wednesday, a Hermés Birkin handbag was sold to an unnamed buyer for a whopping HKD $2.94 million ($380,000), according to SCMP.
Described by auctioneers as “the most desirable handbag in existence,” the item, a rare Matte White Himalaya Niloticus Crocodile Diamond Birkin 30 with 18 karat White Gold and Diamond Hardware, was initially thought to fetch around HKD $1.5 million ($192,500) to HKD $2 million ($256,600).
Detailed in gold and encrusted with 245 diamonds, the handbag is even made more valuable by the “delicately graded crocodile hide” used to make it. The fact that it’s from the sought after Himalaya Birkin line makes it a must have for those who don’t want to be put on a six-year wait list just to get one.
“The most valuable bags are the diamond pieces, and the top collector pieces are the ones from the Himalaya family,” Christie’s international director of handbags and accessories Matt Rubinger was quoted as saying.
“This example, with white gold detailing and 245 diamonds, combines the two. It is a Himalaya with diamond hardware, and thus the apex of the market.”