A 12-inch Hermès Birkin crocodile handbag encrusted with 10 carats of diamonds was sold for $300,168 at a Christie’s auction in Hong Kong last week, making it officially the most expensive purse in the world. The private collector who snagged the bag clearly wanted it very badly; the deal was made in only four minutes.
This Birkin was sold for even more than an ancient Qing dynasty scroll of the Empress Dowager Cixi, which was also available at the auction. The entire episode sounded exactly like an episode from Kevin Kwan’s latest book China Rich Girlfriend, which will soon be turned into a movie.
According to the New York Times, Birkins are no longer just pretty bags anymore. They are valuable investments that perform better than gold, increasing in value by 500% in the last 35 years. And experts believe the trend is only going to continue. As if you needed any more inducements to buy a designer purse.