By CHRISTINA BINKLEY
April 13, 2016 18:55 ET
2 COMMENTS
A rare Hermès Birkin bag with diamond on its hardware has been sold for $ 298,000, breaking the previous record for a handbag to be sold back of $ 222,000. Bag features 18K white gold and diamond hard. MAGNIFIERS bags 18K white gold features diamond and hard. PHOTO: Prive PORTER Never used, crocodile skin bag, in a fiery red Hermès engine called "braise," was kept in the store-bought status of two previous owners, each of of them bought it with profits in mind. this poses an interesting question. Birkin is a handbag or investment? Most bags have like cars: They depreciate quickly when buying. Birkins, and some other Hermès handbags, like Kelly, can be a rare exception, if they are well maintained; bag also broke the previous record was a Birkin. ROAD TO A RECORD 1. Hermès Birkin a ball bag 35cm crocodile porosus rare in a red fire engine is called 'braise' is produced in France in 2008. Its hardware features 10.08 carats of round diamonds sparkling in 171 grams 18K white gold. 2. The bags are sold at an Hermès store in New York City in 2008 to a private collector for $ 160,000 US. 3. Jeffrey Berk bought the bag never performed in May 2015 in which customers' store fresh "condition. He raises the selling price at $ 360,000. 4. In November 2015, the bag is shown marketing by appointment on a yacht in Fort Lauderdale International boat Show. 5. After two previous deals fall through, the bag sold in March 2016 for $ 298,000, beating the previous record of $ 222,000, set in Christie's auction in June 2015. (Christie price also includes commission for the auction house.) 6. A few days later, Birkin transfer air transport Brinks armored to represent the buyer of Los Angeles, who described his client as an American billionaire. Bag is an investment for Jeffrey Berk, the founder of the Boca Raton, Fla.-based retailer Prive Porter. He sold it through a personal representative of the buyer and said he did not know who the buyer is. "It will go into a warehouse full of crates that like in Indiana Jones? I do not know, "Mr. Berk said. In 2008, the bag sells for $ 160,000 at an Hermès store in New York City, according to the original sales invoice. The agency declined to say how many he paid for the bag, said Christie's did not reveal the profits of the previous record-breaker. A reseller specializing Hermès handbags, is on track to sell Prive Porter's $ 24 million for this year, he Berk said. About 90% of the inventory is sold through Instagram, and 60% went to customers in Asia and the Middle East. there is a reason he had to complete almost exclusively at Hermès. This brand is likely obsessive commanding performance most worthy of investment. According to my experience, "no one is kicking down doors for Chanel," Mr. Berk said.
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