A rare Hermes matte white Himalayan crocodile Brikin bag with palladium hardware on the left is similar to the one that sold at auction for $380,000 at Christies. Also pictured is a Hermes limited edition Noisette Gulliver leather Quelle Idole Kelly doll bag in the center and a Hermes Extraordinary Collection shiny black crocodile Birkin bag with 18 karat white gold hardware and diamonds.
Photo: STAN HONDA/AFP/Getty Images
Photo: STAN HONDA/AFP/Getty Images

Diamond-encrusted purse sells for record $380,000 at auction

A diamond-encrusted luxury Hermes handbag with 18 karat gold buckles just sold for a record-breaking $380,000, according to the auction house Christies.

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The purse, a matte white “Himalaya” crocodile Hermes Birkin bag was made in 2014 and had an estimated value of between $193,000 and $258,000, Christies said. It sold to an unidentified buyer in Hong Kong.

The price beat the previous record sale price for a similar Birkin bag of $300,000 last year.

The bags are so valuable because so few are made, only one or two a year, and because of the tedious process involved in dying the crocodile.

The luxury purse was created by Hermes, the French luxury label, in 1984 in honor of British entertainer Jane Birkin. The bag is known for its expensive price tag, years-long waiting list and celebrity owners.

The Associated Press contributed to this story.

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