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Press Release - September 24, 2014

Hermes Diamond Himalayan Birkin Brings $185,000 At Auction

The rarest handbag in the world brings $185,000, Sept. 23, 2014, at Heritage Auctions, short of the $203,150 record price

BEVERLY HILLS — An Hermès Extraordinary Collection 30cm Diamond, Matte Himalayan Nilo Crocodile Birkin Bag with 18K White Gold Hardware, considered to be one of the most desirable handbags in the world, realized $185,000 at auction on Sept. 23, 2014 — falling shy of the $203,150 auction price paid for a diamond Birkin in 2011 in a Heritage Luxury Accessories auction in Dallas — on its way to becoming the second highest auction price ever realized for a handbag.

The handbag has 242 diamonds with a total weight of 9.84 carats.

The sale of the Birkin took place at Heritage Auctions in Beverly Hills on Sept. 23, as part of the company's Luxury Accessories Signature Auction, which included 480 of handbags from Hermes, Chanel, Louis Vuitton and other top designers.

"It's an incredible caliber of handbag and a spectacular price," said Kathleen Guzman, a Managing Director at Heritage Auctions. "Worldwide demand for these bags is at an unprecedented level and the price it brought, near the top of the pre-auction estimate of $150,000-$200,000, demonstrates how desirable these are to the most advanced collectors."

The luxury re-sale market has exploded in the last three years, capturing the attention of a wide array of female collectors to enter the traditionally male-dominated world of collecting.

"The consignor, who was in attendance, stated that she was very happy with the auction and the prices her bags brought," said Guzman. "Heritage has put a tremendous amount of energy and resources into creating and expanding the luxury re-sale market and, given the prices that we saw in this auction, it's paid off."

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