The price surpasses the record set a year ago when Christie’s auctioned a similar Birkin bag for $300,000. It had identical specifications but was produced in 2008.
Christie’s says Himalaya Birkins get their name from the bag’s color, which fades from smoky grey to pearly white, evoking comparisons with the mountain range. The company says they’re exceptionally rare, with only one or two believed to be made each year because of a time-consuming process to dye the crocodile skin.
The highly coveted bag was created in 1984 by French luxury label Hermes in honor of British singer and actress Jane Birkin. It’s famous for a stratospheric price tag, celebrity owners and a years-long waiting list.