Christie's auctions Birkin handbag adorned with gold, diamonds for record $520,000

A Birkin handbag with 18-karat gold and diamond hardware identical to the one shown here has broken the record for the world's most expensive ever sold at an auction.
A Birkin handbag with 18-karat gold and diamond hardware identical to the one shown here has broken the record for the world's most expensive ever sold at an auction.PHOTO: AFP

HONG KONG (Bloomberg) - Christie's set the record auction price for a handbag, selling a Birkin adorned with 18-karat gold and 10 carats of diamonds for HK$2.94 million (S$0.52 million).

The matte white crocodile-skin purse, made by Hermes International SCA in 2014, was sold to an unidentified bidder in a sale in Hong Kong, Christie's said in a statement on Wednesday (May 31). The price exceeded the top estimate of US$258,000 (S$356,686).

Auctioneers have been making a slew of new records as prices for rare items increase. Sotheby's set the record auction price for a pair of earrings earlier this month, selling a duo of blue and pink diamond jewels for US$57 million in Geneva.

Phillips also recently set the record for a Rolex.