Christie’s will hold its first-ever live auction of handbags and accessories in North America at is New York location on December 11. The luxury handbags up for sale may fetch prices in the six figures.
The sale was organized by specialist Caitlin Donovan and associate specialist Rachel Koffsky. It will feature 223 lots, with 188 of them from Hermes.
Many of the handbags up for sale are rare. One, a Himalaya dyed Kelly bag, is the flagship piece for the auction and has been dubbed a “unicorn bag.” Another is a 35-centimeter amethyst porous chocofile Birkin bag with white gold and diamonds. It is expected to be sold for up to $150,000, or possibly even more. It could surpass the record price of $222,000 for a diamond-encrusted fuchsia Birkin set at a Christie’s auction in Hong Kong this summer.
The auction on December 11 will include 14 one-of-a-kind Birkins. Hermes only offers its top-tier clientele the option to customize their Birkins. The auction will include rare ostrich, crocodile, lizard, and chevre Hermes handbags.
Hermes has a timeless strategy when it comes to the design and sale of its handbags. The leaders of the company think 20 or 30 years in the future and invest in the highest quality materials and craftsmanship.
The auction will also include handbags from Chanel, Judith Leiber, Louis Vuitton, and Valextra. With these labels, consumers tend to be more interested in one-off runway items, rather than classic styles such as the Birkin or Kelly.
Aftermarket interest in luxury goods has been growing in recent years. During the recession, people began to think of handbags as investments and became willing to spend thousands of dollars on handbags that would last a long time. The luxury handbag market has grown into a $3 billion industry.
Christie’s handbag division regularly sells bags for tens and even hundreds of thousands of dollars. The auction house is building up a network of buyers and sellers who are interested in aftermarket bags, particularly ones made by Hermes. The Birkin is the most collectible bag in the world. It and the Kelly make up a good portion of Christie’s handbag sales.
People who purchase high-end bags do so for different reasons. Some keep them in boxes to increase their value, some wear them a couple of times and then keep them in closets, and some wear them on a regular basis.
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