If you are wondering just what kind of handbag could command a price tag that high… “a rare Hermès 35cm Birkin shiny porosus crocodile bag in a fire-engine red called ‘braise’ manufactured in France in 2008. Its hardware features 10.08 carats of round brilliant-cut diamonds in 171 grams of 18K white gold” writes Binkley.
The bag had been bought and resold twice since it’s original purchase for $160,000 from the Hermes mothership in NYC. The bag was finally sold by Jeffrey Berk of Privé Porter to a Los Angelos representative for an unknown investor.
Let’s be realistic here, not all of our ordinary Birkin bags are going to sell for double. In fact, the reseller market prices for the elusive Jane B’s are definitely down. But this sale reinforces the ideal that Hermes bags are likely the only ones that can be justified as investments in the long run (read: Gold, S&P 500, or Hermes Birkin?).
In a video interview, Binkley and Tanya Rivero discuss the record-setting Birkin and continue the debate whether handbags should be investment-worthy pieces.