Before we get to the gasp-rendering and anxiety inducing cost of the handbag in question, it’s worth noting that their starting retail value is around €10,600; making them totally unacceptable to the majority of the world anyway.
What a time to be alive.
The culprit in question is an extremely rare 30-centimeter Himalayan Hermès Birkin bag made from white crocodile skin, diamonds, and gold, and was recently sold at auction for $377,000 (€334,687) – breaking all previous records. It was bought by an anonymous buyer at a Christie’s auction in Hong Kong.
The world’s most expensive handbag by Hermès
What could it be that makes an accessory more expensive than the average family home? According to Stateside luxury handbag dealer JaneFinds, looking at the bag is supposed to “evoke images of the majestic Himalayan mountains”. In all seriousness, the bag is stunning and undoubtedly a piece of art more-so than day-to-day arm candy.
Despite their costly starting price, Birkin bags (among other designer bags like the Chanel 2.25), are considered an excellent investment as the value has increased by 500% in the last 35 years according to recent reports.
While we’re struggling to wrap our heads around paying a mortgage for a bag, here’s why Hermès justifies the 6-figure sum pricepoint:
- They’re incredibly sturdy and repairable for life; which is very useful if you plan on passing it down as a family heirloom.
- They’re meticulous to make and each bag takes an average of 18 hours to produce. Bags like the white crocodile one above, however, take even longer because of the dying process making them more desirable and more costly. Production time can double or triple if diamonds are involved.
- Slow manufacturing costs drive exclusivity; making it a symbolic status-symbol than just your average handbag.
Despite their obvious beauty and allure, overly-excessive purchases come with a moral price tag too, and for the average person (i.e the majority of humankind), it can be extremely hard to justify spending the cost of a house on a bag, or shoes, or coat. Only last month did Ivanka Trump get scorned for wearing this stunning D&G coat that cost the same as the average person’s annual salary ($51K).
With that said, if you do happen to have a spare €300,000 this bank holiday Monday, you could also buy 37,187 bags from Penney’s, pay for 45 students to attend university in Ireland (and live on campus), or bring 150 of your nearest and dearest on a 7-day, all-inclusive trip to a private resort in the Maldives.
(I’m free to go btw).