Hermes bag set a record in Hong Kong as the most expensive handbag ever sold at at Christie’s afternoon handbag auction in Hong Kong on Monday. The crocodile skin Birkin Bag in fuschia with 18 karat gold and diamond hardware was sold to a phone bidder for 1,72 million Hong Kong dollars ($222,219). The bag was one of more than 300 that Christie’s put on the block in Hong Kong, which has emerged as a global auction center thanks to wealthy mainland Chinese.
The previous record was set at a U.S. auction in 2011 for another Birkin Bag, in red crocodile skin, that sold for $203,150. The same year, diamond and gold evening bag once owned by Elizabeth Taylor sold for US$218,500 at Christie’s in New York.