Hermès Birkin expected to sell for over £100,000

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The 2008 Himalaya Niloticus bag, featuring a diamond-encrusted 18k white gold lock, is expected to sell for over its estimate of £100,000-£150,000 at Christie’s in London on June 12th.

According to a 2018 Harpers Bazaar report, If the bag meets expectations, it will exceed the current record-holder – a navy blue crocodile Birkin which sold for £155,000 at Christie’s last year. A different Himalaya purse, created in 2014, broke the world record with a £253,700 winning bid at a Christie’s event in Hong Kong in 2017.

“Only three of these particular bags have ever come up for auction,” Christie’s handbag specialist, Rachel Koffsky told The Guardian in a 2018 report. “We don’t think there are many of them out there. I have my fingers crossed that we will break records with this bag.”

Matthew Rubinger, International Director of Handbags & Accessories at Christie’s, described the accessory as “the undisputed most valuable bag in the world”.

Besides the 2008 Himalaya Niloticus bag, the discontinued Micro Mini Hermès Kelly 15s and the red and white NASA painted Kelly, signed by the New York artist Tom Sachs will be sold.

Koffsky described the Nasa handbag, which has an estimate of £20,000-£30,000, as “a good-natured interpretation of consumerism … which shows how sophisticated our customers are. I can see this being bought by a serious art collector who will display it in a museum case,” according to a 2018 Guardian report.

According to a 2018 Harpers Bazaar report, Christie’s revealed it saw “outstanding sell-through rates” for Hermès lots at its May Handbags & Accessories sale in Hong Kong. The top lot was a rare black crocodile Birkin, which sold for more than double its estimate at £131,207.

The hype around investment handbags has shown no sign of slowing down in recent years. Research has shown that rare Birkins have averaged a 14.2% annual return over the past few decades – an average that beats both the US stock market and the price of gold, according to a 2018 Harpers Bazaar report.

A  lot 175 of 220 handbags, will be sold at Christie’s in London on 12 June at the auction.

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