A rare Hermès Birkin has set a world record for the highest price for a handbag sold at auction.
The red crocodile skin purse, with white gold and diamond hardware, was sold to an anonymous bidder for $203,150 this week at Heritage Auctions in Dallas, Texas.
The final price far exceeds expectations, given that it had been expected to fetch around $80,000.
Matt Rubinger, director of luxury accessories at Heritage Auctions called the bag 'extraordinary'.
He told WWD: 'This is an extraordinary example of one of the world’s most exceptional handbags, and this was certainly an exceptional price, exceeding our highest expectations at every corner.'
