Here's Why a Handbag Specialist Is Worth $60 Million to an Auction House

When it was reported that Heritage Auctions was suing Christie's for poaching their "pre- owned" handbag specialist Matthew Rubinger last week, much was made of his expertise. "No one...knows more about the buying and selling of pre-owned bags," stated one article. Another mentioned Heritage's claim that the 26 year-old Rubinger would be sharing "trade secrets" with his new employer.

It's a compelling narrative -- a high-stakes battle over a million-dollar wunderkind with an intricate knowledge of the luxury goods industry. In this story line, Rubinger is positioned as an expert with an "Antiques Roadshow"-style ability to uncover treasure: "You say your grandmother only paid $25,000 for this Birkin bag back in 1992? Well: it's your lucky day, ma'am, if only your grandma knew what it was really worth."