Biz-Econ

First Hermès Birkin handbag fetches 8.58m euros at auction

The original Hermès Birkin handbag, designed for actress Jane Birkin in 1984, sold for a staggering 8.58 million euros ($10 million) at a Sotheby’s auction in Paris on Thursday, setting a new record for the highest price paid for a handbag.  

The iconic black leather tote, owned by a prominent Paris-based collector, ignited a fierce telephone bidding war, reaching 7 million euros before finalizing at 8.58 million euros with fees, according to Sotheby’s.  

Described as a “historic handmade prototype,” the bag features unique elements, including engraved initials “J.B.,” closed metal rings, a non-detachable shoulder strap, and an integrated nail clipper, distinguishing it from later models. It was the centerpiece of Sotheby’s “Fashion Icons” auction, held on the final day of Haute Couture Week.  

The bag was displayed publicly at Sotheby’s New York gallery from June 6–12 and at their Paris office in the 8th arrondissement from July 3–9 before the auction.  

The Birkin bag’s origin story began on a Paris-to-London flight, where Jane Birkin, the British singer-actress who passed away in 2023, discussed her need for a practical yet stylish handbag with fellow passenger Jean-Louis Dumas, then CEO of Hermès. This led to the creation of the Birkin, a tote with a pouch for baby bottles, launched in 1984.  

Now a symbol of exclusivity, the Birkin is produced in limited quantities by Hermès, with prices ranging from a few thousand euros for basic models to hundreds of thousands for high-end versions.  

The “Fashion Icons” auction, running online from June 26 to July 10, also showcased notable pieces from designers like Christian Dior, John Galliano, Thierry Mugler, and Alexander McQueen, highlighting the enduring allure of luxury fashion.

Source: AFP