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| This Hermes signature Birkin is made with white matte Himalayan crocodile leather, and features hardware made from 18k white gold and diamonds. It sold for $300,168, making it most expensive handbag ever sold. |
(CNN) - It's been described as a piece of "fashion
history" by auction house Christie's.
A matte white Diamond Himalaya Niloticus crocodile diamond
Birkin 30 with 18k white gold and diamond hardware, was sold by a private Asian
collector for $300,168 on Monday, making it the most expensive handbag ever
sold.
"The diamond pieces created by Hermes are exceptional,
but none are nearly as iconic as the Himalaya," Christie's said in a press
release prior to the sale. "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."
Beauty of the Birkin
The results follow last year's record-breaking $222,000 sale
of a fuchsia diamond-studded Hermes Birkin, and further cement the bag's
celebrated fashion credentials.
"Its rarity and exclusivity, the quality of leather and
craftsmanship, its style and the ability to customize," all contribute to
making this the most valuable bag in the world today, according to New
York-based appraiser Helaine Fendelman, of Helaine Fendelman & Associates.
The fact they are instantly recognizable without a large
emblazoned logo only adds to their appeal, she added, although clever marketing
by Hermes also helps.
"By not telling ladies how many are manufactured in a
year, the idea that these are scarce makes them more desirable. It is human
nature to want what others cannot get," Fendelman said.
Both Christie's and Fendelman agree that even the most basic
Birkins hold their price, making them a sound investment as well as an
impressive fashion statement.
"I remember when I wanted to purchase a Birkin bag at
auction for about $7,500 and my husband thought I had lost my mind," she
said. "That same bag today sells for double that price, at least."
Collectors' items
Interest in these aftermarket bags ("second-hand"
doesn't have quite the same ring to it) has grown rapidly, and Christie's now
includes an accessories and handbags section in many of it's major sales around
the world.
While many women used to bid on the bags for their
practicality and style, the promise of increasing value has become an important
consideration.
Winsy Tsang, head of sales for handbags and accessories at
Christie's in Hong Kong, said the value of these types of auction items
generally increase, and that although Hermes leads the way, handbags from
Bulgari, Chanel and Gucci were also popular as investment pieces.
"They are certainly an increasingly meaningful asset
class," Tsang added.
As for Fendelman's Birkin, much to her husband's relief --
and her own, in retrospect -- she missed out on the sale.
"Am I sorry I didn't purchase the bag? No, not really,
because I would be afraid to use it every day for fear of ruining it," she
said.
-CNN
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