Last year Christie’s made news for selling the most expensive Birkin bag in the world, a hot pink, diamond-encrusted crocodile piece priced at HK $1.72 million (approx. USD $221,868). But this week another rare bag has taken the title. The new world record holder is a red 35cm Birkin made of braise shiny porous crocodile with 18-karat white gold and diamond hardware priced at $298,000. Sold by Privé Porter, a US-based luxury bag reseller, the bag is outfitted with 171 grams of 18-karat white gold and encrusted with 10.08 carats of round-cut diamonds on the buckle and lock. Originally purchased at the Hermés flagship store in NYC in 2008 by a private American collector, the bag reportedly remained unused for almost a decade. The original asking price was $360,000, so the Los Angeles-based buyer (who wished to remain anonymous) still got a pretty great deal.
This is the latest record-breaking purchase in the luxury resale market which has been rapidly expanding in recent years. The luxury resale market for Birkin bags is at an all-time high and big names like Christie’s, The RealReal and Portero are trying to obtain the bags for resale. Privé Porter, which makes sales primarily through Instagram, sells Birkins almost exclusively.