Sold during the Christie’s 30th Asia anniversary auction in Hong Kong, a matte white Himalayan Niloticus Crocodile Diamond Birkin 30 has become the most expensive handbag to be sold at auction. Adorned with 18k white gold and diamond hardware, the bag sold for over $440,000.

The bag was originally produced in 2008, and retailed in 2009 for between $280,000 and $382,000. Christie’s senior Asia vice-president of handbags and accessories, Matthew Rubinger, said the bag was so unique it had become a collectors item.

“The value of Hermes Birkin handbags has never fluctuated downwards and has steadily and consistently increased. The bags experienced a peak surge in value in 2001, increasing in value by 25 per cent, and with the lowest increase in 1986 when the value went up by 2.1 per cent,” said Rubinger.