You’ll never guess how much SA’s most expensive handbag just sold for

According to the company, the coveted bag sold out within two minutes of being listed. Source: IOL

Forget diamonds, handbags are now a girl’s best friend, and if chosen as an investment piece, the dividends can have you laughing all the way to the bank.

Just earlier this week, local pre-owned luxury goods authenticators Luxity listed a Hermès Birkin bag for R220 000.

One of the world’s most sought-after accessories, the Hermès Birkin, has an estimated retail price of R370 000. According to the company, the coveted bag sold out within two minutes of being listed.

“At Luxity, we’re no strangers to big-ticket items,” said a spokesperson. “It is, however, rare that we are confronted with an authentic Hermès Birkin 35 bag in the brand’s signature grainy Togo leather with gold hardware which is one of the world’s most sought-after handbags and an all-time favourite of any fashionista.”

So, what is the fascination with Hermès Birkin?

A Hermès Birkin bag doesn’t lose value over time.

In fact, on average, their value increases by 14% a year.

“This is largely due to the craftsmanship that goes into every piece (it takes a single artisan about 48 hours to craft a single bag) and the very limited supply. How many Birkins are made per year is one of the best-kept secrets – just like the original Coca-Cola recipe,” said Luxity.

The world’s most expensive Birkin is a white Himalaya by Hermès, a French high fashion luxury goods manufacturer.

Known as the holy grail of handbags, the bag features 18 karats white gold hardware and over 200 diamonds. It was recently bought for over $500-million by David Oancea, a professional sports betting consultant.