Just recently the prestigious auction house Christie’s made headlines by selling the world’s most expensive painting. Now it has auctioned off the most expensive handbag ever sold; a Hermès Diamond Himalayan Birkin for for HK$2.98 million, that’s around $381,700.
While the Hermès Birkin bag is known for having a waiting list of up to three years, those who don’t have the patience but have the capital are using auctions to score the coveted status symbols.
The Himalaya Birkin is named for the labour-intensive dying process that creates its gentle grey-to-cream gradient, intended to evoke the snow capped mountains of the Himalayas. It’s often described as one of the rarest handbags in the world. In 2016, a similar style was sold up at Christie’s for around $377,000.
The$381,700 handbag is an extraordinarily rare edition of the Himalaya Birkin. With white gold, diamond-encrusted hardware, the record-breaking accessory is a particularly elusive style known as a Diamond Himalaya. Hermes doesn’t disclose how many Diamond Himalaya bags it produces, But Christie’s estimates that only one or two are made each year.
Luxury connoisseurs consider Birkin bags to be the ultimate status symbols, typically reserved for celebrities and the super rich. Birkin Bags are considered a solid investment and have increased in value by 500 per cent over the past 35 years. A recent study found that Birkin bags have performed better than both the American stock market and the price of gold in the last 35 years.