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A bag made of exotic skin and diamond was sold at auction by Christie's in Hong Kong for a record price of US$380,000 (HK$2.94 million) in May 2017. [ 7 ] [ 10 ] Birkins are distributed to Hermès boutiques on unpredictable schedules and in limited quantities, which creates artificial scarcity and exclusivity .
Each Birkin bag is like a work of art; it takes hours for a single artisan to create a piece from scratch. That limits how many Hermès can produce and supply worldwide, lending its bags the ...
The Birkin bag, named after British singer and actress Jane Birkin, has long been status symbol known for its exclusive waitlists. The handbags can be priced anywhere between $10,000 to $2 million
Naturally, the previous record holder was another Birkin. In 2016, a Birkin bag having almost identical specifications as the one just sold was auctioned off for a cool $300,000.
In June 2015, a Christie's handbag sale in Hong Kong saw a pink crocodile skin Hermès Birkin bag made only in 2014, sell for a then world record £146,000. [28] In May 2017, Christie's Hong Kong sold a white crocodile skin Hermès Birkin bag with 10.23 carats of diamonds for a world record HK$2.9 million (£293,000). [27]
Thanks to its exclusivity and its status as an investment piece, a Birkin bag’s value is much higher than its sticker price of around $12,000. Birkin bags can double in value in 5 years.
In other words, to unlock the opportunity to buy a $12,000 Birkin, a shopper would first have to spend $12,000 on other products from the brand. What you buy matters
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