There’s officially a new record holder for the most expensive bag ever auctioned. Yesterday, just months after a red Hermès Birkin took the title with a $298,000 bid, Christie’s Hong Kong announced the sale of a 30-centimeter Birkin bag, fabricated from rare Himalayan crocodile and accented with diamond-encrusted, white gold hardware. Purchased new in 2008 by a private Asian collector, the piece sold for 2,320,000 Hong Kong dollars (approx. USD $300,168 at the time of purchase). The auction house called the sale a piece of “fashion history” due to its rarity and one-of-a-kind craftsmanship. "The diamond pieces created by Hermès are exceptional, but none are nearly as iconic as the Himalaya," Christie's said in a press release prior to the sale. "It is believed that only one or two of the Diamond Himalayas are produced each year, globally, making it one of the lowest production runs for handbags.” Trimmed in 18-karat gold and adorned with 1.64 carats of diamonds, this is also one of the most opulent handbags on the market.
This is the second Birkin auction to break records after Baghunter published their study of Birkin investments. According to their research, the value of the bag has increased by more than 500 percent, with an annual increase of 14.2 percent—offering a better rate of return than the stock market or even gold. It looks like the buyer, who wished to remain anonymous, just made a wise investment.
