$298,000 could buy you a really tiny studio in New York’s Upper East Side. It could fund a child’s upbringing until age eighteen. Or, if you’re one very fortunate anonymous “American billionaire” currently residing in Los Angeles, $298 grand could buy you the world’s most expensive handbag.
Last Thursday, the culprit, a 35-centimeter Hermès Birkin from 2008 in rouge Braise crocodile skin, polished off with 18-karat white gold and diamond hardware, ousted the reigning tote, a pink crocodile Hermès Birkin auctioned off by Christie’s for a paltry $222,000 ten months prior.
If you ask the seller, Florida-based luxury bag dealer Privé Porter, the record-breaking Birkin was actually quite a steal. Privé originally priced the (shockingly) never used accessory at $360,000. Optional down payments included a kidney, firstborn child or indentured servitude…just kidding.
While plummeting luxury handbag sales are driving brands to create mini, more affordable versions of iconic shapes, the secondary handbag market is booming, strangely enough. Christie’s even created in-house teams dedicated to buying and reselling Birkins, Kellys and the like. Whether these investment pieces will be worth their weight in croc skin and precious metals if the economic forecasters are correct and another recession is on the horizon remains to be seen.
In the meantime, anyone care to place bets as to whether the studded shoulder piece will show up next to Kim’s custom George Condo? We’re going with nay — we love a classic Birkin, but this one’s pretty extra, even by Kardashian standards.
[ via Vogue ]