Someone paid over $300,000 for a handbag.
Let’s just let that sink in for a moment. Over $300,000. For a handbag.
Is it encrusted with diamonds? Yes. Does it feature 18k gold? Yes. Is it made from Himalayan Crocodile leather? Yes.
But is $300,000 still a ridiculous price to pay for a handbag? Absolutely.
The purchase occurred on Monday night when the Hermès Birkin Bag was sold by a private collector through auction house, Christie’s.
In case there was any doubt, its sale price of $300,168 makes it the most expensive handbag ever sold. It’s a far cry from last year’s record-breaking handbag, with the $222,000 purchase price now seeming like pocket money.
Despite the Birkin bag coming under fire recently (Jane Birkin asked for her name to be removed from the style), it seems the controversy has not impacted an increasingly high demand for the style. Yearlong waitlists are not uncommon.
Accordingly, Hermès Birkin bags are now considered a wiser investment than stocks or gold.
You can read more about the record breaking purchase here.