An Hermès bag set a new world record when the accessory was sold at auction for $380,000 in Hong Kong on Wednesday, May 31, according to the AP. The bag in question is a matte white Himalaya Niloticus crocodile Birkin 20 handbag — a style which was originally made famous by its namesake Jane Birkin and now holds the honor as the most expensive handbag sold at auction.
Any fashion devotee knows that a Birkin bag on its own often fetches upwards of $20,000 and boasts an extensive waitlist. However, for wealthy collectors, this is a small price to pay for the cult-favorite luxury accessory.
As for the record-making handbag, there’s a reason why it sold for such a high price: The exquisite piece includes 18-carat white gold and diamond hardware. It’s been reported that the Himalya Birkin gets its name from the bag’s color, which fades from smokey grey to pearly white, reminiscent of the mountain range.
Of course, bags of this style are rare due to the time-consuming process of dyeing the crocodile skin. And while the identities of the buyer and seller are reportedly undisclosed, it is said that the bag finally sold after an “intense” 15-minutes of bidding, according to Newsweek.
Last year, Christies auctioned a similar bag for $300,000, also in Hong Kong, which set the record surpassed by the May 31 sale. The reason for the uptick in the price of this collector’s item is that Wednesday’s bag has higher quality diamonds and is decorated with more gold.
At almost $400,000 for a handbag, we at Stylish can’t help but wonder: What kind of accoutrements will the next record-setting bag have?
