Several lots included rare pieces from different luxury brands.
Christie’s Handbags Online: The New York Edit sale totaled $4,114,782, making it the highest-valued handbag sale in the region.
The auction, co-curated by consignment retailer Rebag, was open for bidding from May 30 to June 12. Many lots were sold for well over their low estimate with nine handbags selling for over $100,000 each.
“The success of our latest auction speaks to the enduring status of exceptionally well-crafted handbags as both extremely valuable assets and ultra-desirable personal luxuries,” said Paige Rubin, Christie’s head of sale for handbags in the Americas.
“Our record-breaking result is fresh proof that these collectible handbags are worthwhile assets to invest in, and that our overall market, which continues to see expansive growth, is strong. In a time when so many fashion forecasters have stressed the growing trend of quiet luxury, our bidders have demonstrated a renewed appetite for luxury with a capital L.”
A rare Hermès Kellywood 22 crafted with beechwood and barenia leather was the highest-selling lot from the auction. Sold for $176,400, this marked the model’s first appearance in the American auction market.
Other highlights of the sale included a couple of Hermès crocodile and alligator handbags which sold for $151,200 each. A limited edition Hermès Birkin and a crocodile Himalaya Lady Dior bag were also popular choices. Both sold for more than 400% of their low estimates.
“From diamond-encrusted Birkins to colorful leather Marquetry to eye-catching white Alligator skin, our collectors sought out handbags as exuberant as they were exquisite, in iconic styles whose values have stood the test of time,” Rubin stated.
Banner image via Instagram @christieshandbags.