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Diamond-encrusted handbag sold for $0.3m
Published :Wednesday, 1 June, 2016,  Time : 12:00 AM  View Count : 17

HONG KONG, May 31: A diamond-encrusted crocodile-skin Hermes handbag with white gold details has broken the record for the world's most expensive ever sold at auction, fetching nearly $300,000 at a Hong Kong sale.
The rare Himalaya Niloticus Crocodile Diamond Birkin 30 went to an unknown phone bidder late Monday for HK$2.32 million ($298,655), beating a pre-sale estimate of $2 million, the auction house Christie's said.
"It was the world record price for any handbag sold at auction," Bingle Lee, a Hong Kong-based spokesman for Christie's, told AFP.
Designer handbags are increasingly seen as investment opportunities and are the latest craze for collectors, taking global auction houses by storm and scoring record prices.
The new record beat one set last year, also in Hong Kong, when a fuchsia-coloured Hermes bag sold for $222,912.
The handmade bag -- described by the London-based auctioneers as the "rarest, most sought-after" -- is encrusted with diamonds, while the buckle and trademark mini Hermes padlock are made of 18 carat white gold.    ?AFP










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