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Bloomberg
A Hermes handbag fetched a record price for a Sotheby’s auction, latest evidence that rare luxury items are increasingly seen as stores of value by investors and wealthy buyers.
The Himalaya Retourne Kelly 25 bag sold for €352,800 ($346,802) in a Paris auction, Sotheby’s said. The crocodile-skin handbag in mother-of-pearl white, reminiscent of a snowy mountain landscape, sold for almost three times Sotheby’s pre-sale estimate.
The Kelly started out as Hermes’ sac à dépêches in 1930s, but got its nickname after Princess Grace Kelly was photographed carrying one in 1956.