Last June, an extremely low-key Hermès Birkin bag — made of rare Himalayan crocodile and diamond-encrusted white gold hardware — sold for the USD equivalent of $300,168, making it the the world's most expensive handbag ever auctioned. But as of this week, we have a new record to report: On Wednesday, a 30-centimeter white crocodile Birkin, pictured above, sold to an undisclosed bidder at a Christie's auction in Hong Kong for more than $377,000, 25 percent steeper than the accessory auctioned last year.
South China Morning Post reports that the bidding war for the Birkin was "intense" and went on for some 15 minutes in the room, by phone and online. The handbag in question was also allegedly the same style as the $300,168 version sold in 2016, but of a different year. The bag far surpassed experts' pre-sale estimates, which ranged between HK$1.5 million and HK$2 million (about $192,500 and $256,700 in USD).
And to think that standard Birkin models — for mere peons, clearly — start at a measly $12,000.