An Hermes Shiny Fuchsia Porosus Crocodile Diamond Birkin 35 handbag was sold by Christie’s auction house in Hong Kong for a record-setting $222,912. The sale price was about 15 percent more than Christie’s estimate.
The handbag was sold by an undisclosed seller to an undisclosed Asian bidder over the phone. The bidding was fast-paced from the beginning to the end. The previous auction record for a Birkin bag was about $203,000 in 2011 at a sale conducted by Heritage Auctions in New York.
The bag has 18k white gold and diamond hardware, including a diamond-encrusted clasp and padlock. The bag measures 35 centimeters in width and 25 centimeters in height.
Birkin bags are named after 1960s British actress and singer Jane Birkin. The Birkin bag was designed in 1981 by Hermes’ then-CEO Jean-Louis Dumas, who met Birkin on a flight to London. She complained that she could not find a suitable handbag with pockets.
Around 300 designer handbags were up for sale at the auction. Christie’s Handbags and Accessories sale generated $5.99 million in sales. A shiny black crocodile Kelly bag was sold for $145,000, the highest price ever for a Kelly bag. The line is named after the late Princess Grace of Monaco.
Designer handbags are becoming increasingly popular among collectors and are frequently sold by auction houses for high prices. The records were set despite a decline in sales of luxury goods in China. Brands like Gucci and Chanel have lowered their prices to increase sales.
Hermes bags are sought after because limited quantities are produced and waits typically last years. Retail prices for Birkins have risen 2.8 times in the past seven years. People are drawn to Hermes bags for their rarity, timeless shapes, and emotional connection to celebrities such as Birkin and Kelly.
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