Since the creation of the Birkin Bag in 1984 it has become a status symbol and coveted possession to the lucky owners who’ve managed to purchase one. The famous Hermès bag is constantly seen on the streets of Beverly Hills where Beverly Loan Company, coined Pawnshop to the Stars, has been located for over 78 years.
Even the most standard Birkin bag is expensive, starting at around $11,500 retail, however there are a select few bags that command almost unbelievable prices.
In 2011 two Hermès bags sold at auction that set records, and set a high bar for future sales of Birkin bags. A diamond Hermès evening bag in shiny gold once owned by Elizabeth Taylor sold for $218,500 at Christie’s, and a diamond encrusted red Birkin bag sold at Heritage Auctions for $203,150. In June 2015, a hot pink crocodile skin Birkin bag with 18k white gold and diamonds sold for $221,846 in an exclusive Hong Kong auction from Christie’s.
Currently the most expensive handbag for sale is a Himalayan crocodile, 18k gold, and diamond studded 30-centimeter Birkin bag – listed for $450,000. What would make someone spend half a million dollars on a handbag? According to the seller, the bag is one-of-a-kind, and made from Nilo crocodile, (which is particularly hard to work with) and set with just over 8 carats of diamonds.
With many studies naming Birkin bags as solid investments, it is no wonder they have developed such a following, and are a perfect item to pawn for a collateral loan. Even famous artists like Jeff Koons and George Condo are working with the iconic bags or using them as a canvas.
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