Designer handbags are hot property in the world of auctions. Leading auction houses say luxury leathergoods is a new and rapidly expanding category attracting attention from buyers and sellers around the world.
Matt Rubinger, the director of luxury accessories at Heritage Auctions says that he’s noticed “incredible growth and interest from the average consumer in that type of piece” in the last five years.
His Dallas-based auction house has capitalized on the interest since launching its first dedicated handbag auction in the December of 2010. In last year’s sale it sold a red crocodile Hermes Birkin for a world auction record $203, 150. In the same auction a blue crocodile Birkin fetched $113, 525, a figure that also broke the previous record.
It might seem insane to spend five and six-figure sums on fashion goods, but Rubinger insists the bags hold or increase their values over time. Not that you’d easily part with them!
As you might expect, globally revered auction house Christie’s is also keen to get in on the act. In November it will stage its own handbag auction to offload 70 Hermes bags and vintage Chanel, Lanvin, and Louis Vuitton creations.
The key to the interest in these high-end accessories lies in their quality and craftsmanship. Auctions tend to offer limited edition and one-of-a-kind hand-crafted pieces that allow fans to skip the waiting lists new goods attract.
Have you ever participated in a handbag auction?