News - Costly hand bag!!! A lady bought this bag in an auction for Rs.1.43 crores!!!

The shiny fuchsia crocodile Hermes Birkin, which is studded with 18-carat white gold and diamond hardware, sold to a phone bidder for $1.72 million Hong Kong dollars [Approximately 1.43 crores].

That's a pricey purse!!!

More than 360 bags were offered at the packed auction, where the top lot fetched much more than expected.

And it smashed the Rs.1.35 crores record for a handbag another Hermes Birkin reached at a Heritage Auctions sale in 2011.

Named after actress Jane Birkin, the iconic handbag has been a hot status symbol for celebrities and socialites for years. Victoria Beckham is said to have 100 of the bags, while supermodel Kate Moss and singer Jennifer Lopez are other high profile fans.

Demand has been so high that shoppers are prepared to wait for months to get their hands on one of the leather totes. Prices start at about Rs. 5 lakhs.

Fashionistas have long seen handbags as collectors' items, and now high-end auction houses are cashing in on the trend.