An Hermès Birkin just sold for $380,000 in Hong Kong, thus becoming the world’s most expensive bag ever to sell at auction.
The specialty, dyed white “Himalaya” crocodile style is encrusted with over 200 hundreds of diamonds, reported the AP, and has 18-karat gold buckles.
Initially, the tote—which was auctioned off by Christie’s— was predicted to fetch between $193,000 and $258,000, but it soared well past that estimate, nearly doubling the low end of the range and skyrocketing past the high. According to the AP, the final price was reached after 10 to 15 minutes of “intense bidding in the auction room and from phone calls and online buyers.”
This Birkin now holds the record for priciest arm candy, and Hermès broke its own record with the sale: A nearly identical Hermès Himalaya Birkin bag sold in 2016 for $300,168 at Christie’s 30th Anniversary Hong Kong auction.
The auction house calls the Hermès Himalaya the “Rarest Handbag in the World” and on its website, gives an extensive description of both the style’s history and origin, though it does not provide the photograph of the record-holding bag. Christie’s says the bag is made of Nilo crocodile hide and given the name because of the “delicate gradation of the color. The smoky gray fades into pearly white, resembling the majestic, snow-capped Himalayas,” the AP reports, and that the bag is so rare that only one or two are believed to be created each year.