Christie’s first ever live auction of collectable Handbags and Accessories this year is led by a sensational Hermès Matte Gris Cendré Himalaya Niloticus Crocodile Diamond Birkin, priced at HK$1 million to – HK$1.5 million (US$130,000 – 190,000). On 10 July 2020, the famed auction house will present a carefully curated selection of the most coveted collectable handbags currently in the market.
This, for serious investors and collectors, rare Hermès bags like this (and especially in crocodile) are the top of the list. Special handbags by Chanel and Louis Vuitton, like those in Christie’s Hong Kong live sale, also being items that can grow in value. Box fresh condition luxury bags can retain a good percentage of their value, but it’s really the rare collaborations and models and colours with restricted supply like the Chanel 2.55 Flap Bag or limited edition Louis Vuitton’s Takashi Murakami, Supreme or Jeff Koons collaborations that really make it collectable.
“We are thrilled to kick off our live handbag and accessories auction at Christie’s with an exciting line-up of colourful designs that perfectly complement the summer palette,” says Winsy Tsang, Vice President & Head of Sale, Handbags & Accessories, Christie’s Asia Pacific. “The exceptional performance of our recent “The Power of Colour” online sale demonstrates continued appetite from global collectors and we look forward to this continued momentum during our live sale in July.”
The Hong Kong Christie’s sale features rare and custom-made designs to runway showpieces as well as accessories and lifestyle objects ranging from HK$10,000 to over HK$1 million. Designer handbags have recently emerged, to the surprise of many, as some of the most profitable luxury investments to make, says a new report from Knight Frank. The value of auction-able designer handbags is rising rapidly year on year, faster apparently than other categories include rare whiskeys, antiques and vintage or classic cars, in crowded field of collectable items.
Despite a global pandemic, demand for luxury amongst the uber rich has remained steady though with perhaps shifts in the type of goods that are garnering the most attention. Whilst Zoom meetings might have replaced many boardroom meetings for now, Statement jewellery sales have shot up in luxury e-tailers like the RealReal, reports the Financial Times, citing a 40% rise in search demand for Cartier earrings and 72% are up for gold necklaces — all can be visibly worn on a Zoom call. Meanwhile Sotheby’s online recently sold a vintage Cartier bracelet from the 1930s for US$1.34 million, setting a new record for online jewellery purchase.