Article
Femme Fatale Makes $2 Million, Handbag $65,000 as Auctions Buzz
Bloomberg.com
July 25, 2010
A private Russian client paid 42,050 pounds for a 2010 “Bleu Abyss” crocodile “Birkin” at Christie’s International’s July 14 auction of jewelry and Hermes handbags, the London-based auction house said.
The price was not far off the record 49,250 pounds paid for a 2004 black crocodile Birkin at Christie’s in November. The 81 Hermes handbags included in the latest sale raised 476,000 pounds, said Christie’s.
“It’s all about supply and demand,” Patricia Frost, Christie’s director of costume and textiles, said in an interview. “You might have enough money, but you can’t go into Hermes and buy a crocodile Birkin. Auctions don’t have waiting lists.”
