$220K handbag sets new record

HONG KONG (AP) – It’s a handbag that is likely much more valuable than anything you could carry inside it. Auction house Christie’s says a designer handbag from Hermes sold at auction to an anonymous bidder today for $222,000 — a world record.

The shiny fuchsia crocodile Birkin is studded with 18-carat white gold and diamond hardware.

The previous record of $203,000 was set at a U.S. auction four years ago. That’s was also for one of the Birkin Bags.