Diamond-encrusted handbag sold for $300 000, a world record

2016-05-31 11:20
Eunis Chan models a Matte White Himalaya Niloticus Crocodile Diamond Birkin with 18K gold and diamond hardware - one of the most valuable handbags in the world, sold for a record $300 000. (Isaac Lawrence, AFP)

Eunis Chan models a Matte White Himalaya Niloticus Crocodile Diamond Birkin with 18K gold and diamond hardware - one of the most valuable handbags in the world, sold for a record $300 000. (Isaac Lawrence, AFP)

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Hong Kong – A diamond-encrusted crocodile-skin Hermes handbag with white gold details has broken the record for the world's most expensive ever sold at auction, fetching nearly $300 000 at a Hong Kong sale.

The rare Himalaya Niloticus Crocodile Diamond Birkin 30 went to an unknown phone bidder late on Monday for HK$2.32m ($298 655), beating a pre-sale estimate of $2m, the auction house Christie's said.

"It was the world record price for any handbag sold at auction," Bingle Lee, a Hong Kong-based spokesperson for Christie's, told AFP.

Designer handbags are increasingly seen as investment opportunities and are the latest craze for collectors, taking global auction houses by storm and scoring record prices.

The new record beat one set last year, also in Hong Kong, when a fuchsia-coloured Hermes bag sold for $222 912.

The handmade bag – described by the London-based auctioneers as the "rarest, most sought-after" – is encrusted with diamonds, while the buckle and trademark mini Hermes padlock are made of 18 carat white gold.

"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," Christie's said in a statement issued before the sale.

The bag was made in 2008 and is from Hermes' iconic "Birkin" series named after actress and singer Jane Birkin, who was born in Britain and lives in France.

A smaller Himalaya Niloticus Crocodile Diamond Birkin 25 handbag will go under the hammer on Wednesday with an estimate price of HK$1.3m to HK$1.5m.

The auction was part of the firm's 30th anniversary sales to mark its presence in Asia, with a range of luxury goods on offer, including Chinese paintings, watches and wine.

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