The iconic Birkin bag, crafted by the French luxury label Hermes for the renowned celebrity Jane Birkin, recently sold for an astonishing 8.58 million euros (10 million dollars) at a Sotheby’s auction held in Paris. This sale shattered previous records for handbag prices.
This modern design classic, which belonged to a prominent handbag collector based in Paris, ignited a fierce bidding war, rising to 7 million euros before finally closing at 8.58 million euros when commission and fees were added, as detailed on Sotheby’s website.
Previously, the highest auction price for a handbag was set by a diamond-encrusted crocodile skin Hermes Kelly 28, which sold for nearly 513,000 dollars in 2021 at Christie’s in Hong Kong.
“After weeks of anticipation, bidding opened at 1 million euros, prompting a gasp from the audience,” stated Sotheby’s. The auction house anticipated that this prototype Birkin would indeed set new records.
The jaw-dropping price aligns with the recent trend in the fashion industry toward extravagant aesthetics. Following a period characterized by “quiet luxury,” many designers have shifted their focus to more pronounced styles, referred to as “boom boom” by some trend analysts.
As of now, the identity of the buyer remains unknown.
Fashion Legend
The original Birkin bag has changed ownership twice since its initial auction in 1994, where its sale benefitted an AIDS charity, according to Sotheby’s.
The seller of the recent auction, Catherine Benier, who operates a boutique in Paris’s upscale 6th district, referred to it as the “jewel in my collection” before the sale, as noted by The New York Times.
The story of the bag’s creation has become a modern fashion legend. During a flight from Paris to London, Birkin expressed frustration to a fellow passenger about her inability to find a suitable bag for her needs as a young mother.
That passenger was Jean-Louis Dumas, the then-head of Hermes. Their discussion led to the creation of a spacious tote designed to accommodate baby bottles, introduced in 1984 and aptly named the Birkin.
Notably, the bag is engraved with the initials J.B. and features unique elements like closed metal rings, a non-detachable shoulder strap, and even a built-in nail clipper. Its condition reflects the extensive use by the late actress and singer.
A slightly modified version of the original continues to serve as a flagship product for the highly profitable family-owned luxury French leather goods maker. Produced in very limited quantities, the Birkin bag retains an exclusive appeal and has captured the hearts of celebrities such as Khloe Kardashian, Jennifer Lopez, and Victoria Beckham.
In response to frustrations over accessibility, American fashion enthusiasts even filed a class-action suit against Hermes in California last year after being denied access to these coveted bags.
What do you think about the ever-increasing value of luxury handbags like the Birkin?
