Christie’s announced the outstanding results of Handbags Online: The New York Edit, totalling $4,114,782, the highest value realized for a handbag sale in the Americas. The auction was 94% sold by lot and 140% by low estimate, nine lots sold for more than 100,000, an all-time high for an online auction.
Christie’s, the renowned auction house, recently concluded its Handbags Online: The New York Edit auction with remarkable success, setting a new benchmark for handbag sales in the Americas. @Hermès Barenia Leather Perspective Cavalière Kellywood with Palladium Hardware; From the Collection of Rebag; Price Realized: $176, 400
Christie’s The New York Edit Was filled with Hermes rarities that are exceptionally dazzling!
Christie’s Handbags Online: The New York Edit auction in the Americas achieved exceptional results, breaking records and cementing the market for luxury handbags as a thriving investment category. The auction’s success underscores the enduring appeal and value of meticulously crafted handbags, which continue to captivate collectors and enthusiasts worldwide. With record-breaking prices and enthusiastic bidding, this auction signifies a strong and vibrant luxury market, reaffirming the timeless allure and enduring value of these iconic pieces.
The auction achieved a staggering total of $4,114,782, making it the highest-value handbag sale ever realized in the region. With an impressive 94% of lots sold by volume and an astonishing 140% above the low estimate, this online event proved to be a significant milestone for the luxury handbag market.
Renewed Appetite for Luxury:
The exceptional outcome of this auction reaffirms the enduring allure and value of exquisitely crafted handbags, which are considered both valuable assets and coveted personal luxuries. Contrary to recent predictions of a shift toward understated luxury, the bidders demonstrated an unabated hunger for opulent and luxurious handbags. From diamond-encrusted Hermes Birkins to vibrant leather Marquetry designs and eye-catching white Alligator skin creations, collectors sought out iconic styles that have withstood the test of time. The record-breaking results exemplify the robustness of the market and reinforce handbags as valuable investments.
@Christie’s Handbags Online: The New York Edit auction in the Americas
Paige Rubin’s Perspective:
Paige Rubin, the Head of Sale for Handbags in the Americas, expressed her enthusiasm about the auction’s resounding success. She stated, “The success of our latest auction speaks to the enduring status of exceptionally well-crafted handbags as both extremely valuable assets and ultra-desirable personal luxuries. Our record-breaking result is fresh proof that these collectible handbags are worthwhile assets to invest in, and that our overall market, which continues to see expansive growth, is strong.” Rubin’s statement highlights the long-lasting appeal of high-quality handbags and the positive growth trajectory of the luxury market.
Highlights of the Auction:
One of the standout lots of the auction was an Hermès Barenia Leather Perspective Cavalière Kellywood With Palladium Hardware, which achieved a remarkable price of $176,400. This sale not only marked the model’s introduction to the American auction market but also set a world-record price for this particular model. Another significant achievement was the inclusion of two of the newest and rarest Hermès Faubourg Birkins, namely the Neige Faubourg Birkin 20 and the Minuit Faubourg Birkin 20, both of which realized $151,200. Furthermore, a stunning and exceptionally rare Matte White Niloticus Crocodile Himalaya Birkin 30 with Palladium Hardware commanded the same impressive price of $151,200, further highlighting the appeal of rare and unique pieces.
Surpassing Expectations:
Many lots in the auction fetched prices well beyond their low estimates, exemplifying the fervor among bidders for these exceptional handbags. A Limited Edition Toile & Black Swift Leather Cargo Hac Birkin 40 With Palladium Hardware exceeded expectations, realizing $40,320, representing over 400% of its low estimate. Similarly, the Couture Maroquinerie White Niloticus Crocodile Himalaya Lady Dior Bag With Silver & Crystal Hardware achieved a remarkable price of $21,420, also surpassing its low estimate by over 400%.
