Hermès Diamond Birkin Brings World Record Price of $203,150 at Heritage Auctions

Written by Patricia Hellmann Thursday, 08 December 2011 22:49

DALLAS, TX.- An exceptional Hermès Diamond Birkin, with Diamond and White Gold hardware sold for $203,150 on Dec. 6 at Heritage Auctions in Dallas, setting a world record price realized for a handbag sold at public auction. The price includes a 19.5% Buyer's Premium. It was sold to a collector who wished to remain anonymous, and was part of Heritage's Luxury Accessories auction. Luxury handbags have emerged in recent years as a sought-after investment-grade collectible, bringing prices that rival certain kinds of art, comic books, coins and sports memorabilia. That a buyer was willing to come forward and bid this much on this particular piece is no surprise. "This is an extraordinary example of one of the world's most exceptional handbags," said Matt Rubinger, Director of Luxury Accessories at Heritage Auctions, "and this was certainly an exceptional price, exceeding our highest expectations at every corner."

The handbag's official name is the Hermès Exceptional Collection Shiny Rouge H Porosus Crocodile 30 cm. Birkin Bag with Solid 18K White Gold & Diamond Hardware. Birkins in particular have a proven track record of bringing significant prices at auction.

"Just a year ago another Birkin, without the jewels and in lesser condition than this one, sold for the equivalent of $77,000 at auction in England," said Rubinger. "Everything about this bag measures up much better than that one, which was the auction record until this: the color, the diamonds, the condition - it all combines to make this a singular bag and an extraordinary opportunity for a high-end collector."

The Diamond Birkin is actually just one of four Hermès handbags on the evening that broke the existing record price. The other three bags were: an Hermès 35 cm Matte Brighton Blue Porosus Crocodile Birkin Bag with Palladium Hardware, which brought $113,525; an Hermès 35 cm Shiny Braise Red Porosus Crocodile Birkin Bag with Palladium Hardware, which brought $95,600 and an Hermès Ultra Rare 30 cm Himalayan Crocodile Birkin Bag with Palladium Hardware, which realized $80,663.

"Especially in the last year this category has gained traction with smart collectors," said Rubinger, "and an immense following. The result is a whole new set of collectors willing to spend on investment grade pieces and look stylish at the same time."

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