Collecting
Hermes Kelly Bag Fetches Record Price at Sotheby’s Auction
- All-time record for a luxury bag still held by Christie’s
- Hermes Kelly, Birkin bags are seen as stores of value
A Hermes handbag fetched a record price for a Sotheby’s auction, the latest evidence that rare luxury items are increasingly seen as stores of value by investors and wealthy buyers.
The Himalaya Retourne Kelly 25 bag sold for €352,800 ($346,802) in a Paris auction that ended Thursday, Sotheby’s said. The crocodile-skin handbag in mother-of-pearl white, reminiscent of a snowy mountain landscape, sold for almost three times Sotheby’s pre-sale estimate.