Christie’s Handbag Sale Achieves $2.8 Million

In the high-stakes world of luxury handbags, few names shine as brightly as Gucci. The Italian fashion powerhouse recently made headlines in the fashion and auction world with its Handbags Online: The Paris Edit sale, curated by none other than Christie’s.

The event showcased an array of exceptionally rare and legendary bags, capturing the hearts of collectors and fashion enthusiasts alike. This article dives into the record-breaking sale, where Gucci’s Bamboo bag took centre stage and the astonishing figures that left everyone in awe.

Christie's Handbag Sale Achieves $2.8 Million

A Glimpse into the Paris Edit

From the 1st to the 14th of November, Christie’s presented Handbags Online: The Paris Edit, a sale that brought together an exquisite selection of handbags. Among the highlights were three exceptional Made-to-Treasure Bamboo bags from Gucci.

These iconic pieces were not just handbags; they were artistry, each reimagined with the finesse of Italian craftsmanship. Gucci, known for its avant-garde approach to fashion, stayed true to its ethos by selecting and crafting these three spectacular rarities exclusively for Christie’s Handbags Online: The Paris Edit.

A Whopping €2.7 Million (or $2.8 Million) Total

The grandeur of the event was epitomized by its impressive sales figures. The Handbags Online: The Paris Edit sale reached a staggering total of €2.7 million, which translates to an astonishing $2.8 million. At the heart of this achievement was the reinterpretation of Gucci’s Bamboo bag, a true collector’s item that beautifully embodied the craftsmanship and spirit of Gucci’s fine jewellery collection.

Christie's Handbag Sale Achieves $2.8 Million
Gucci – A Unique Black Leather Bamboo Bag
With 18k Yellow Gold Handle And Closure Encrusted With 927 38k White Diamonds
Sold: €138,600
Estimate: €150,000 – €200,000

The star of the show was a Bamboo bag like no other, featuring an 18-carat gold handle adorned with a jaw-dropping 927 diamonds. This exceptional piece fetched an astounding €138,600, setting a new milestone as the highest price ever paid for a Gucci bag at auction.

But this was not just a fashion triumph; it was a charitable endeavour as well. Gucci announced its noble intention to donate the proceeds from the sale of these three Bamboo bags to Save Venice, a leading American non-profit organization dedicated to preserving the artistic heritage of Venice, Italy.

A Global Phenomenon with Youthful Energy

The success of Handbags Online: The Paris Edit transcended borders, with participants from a staggering 55 countries registering for the event. What was even more striking was the youthfulness of the bidders. A remarkable 38% of the participants were under the age of 40, indicating the enduring allure of luxury handbags among younger generations.

In the words of Rachel Koffsky, SVP and International Head of Handbags at Christie’s, “We are thrilled with the results of The Paris Edit: Handbags Online. With a 94% sell-through rate, the appetite for collectable handbags is very strong. We are delighted with the results of our collaboration with Gucci.”

Christie's Handbag Sale Achieves $2.8 Million
Hermès – Mini Kelly 20 II En Alligator Mat Chai, Garniture En Métal Argenté Palladié
Sold: €63,000
Estimate: €35,000 – 40,000

Koffsky also praised Gucci’s contribution to the auction’s charitable cause, saying, “The 18k Gold & Diamond Bamboo bag soared to new heights, achieving a new World Record Price for a Gucci handbag sold at auction and is crowned the most precious Bamboo bag ever created. Gucci has generously announced that they will donate the proceeds of the auction collaboration to Save Venice.”

Lucile Andreani, Head of Department EMEA, Handbags & Accessories at Christie’s, added, “Paris stands as a pivotal hub for Christie’s Handbags category, cementing its position amidst a series of resoundingly successful sales since our return to the region in early 2022. The demand for exclusive handbags remains robust, and we are thrilled to continue offering the finest pieces to our expanding audience. Marking another milestone in our achievements, we are proud to have set a new record: the highest-priced Gucci bag ever sold at auction.”

Lots That Exceeded Expectations

One of the most remarkable aspects of this sale was the number of lots that surpassed their estimated values. A stunning 60% of the lots were sold above their high estimates, highlighting the intense competition and enthusiasm among collectors. Here are some notable examples:

Christie's Handbag Sale Achieves $2.8 Million
Hermès – A Rare, Matte White Niloticus Crocodile Himalaya Birkin 30 With Palladium Hardware
Hermès, 2015
Sold: €126,000
Estimate: €100,000 – 150,000
  • Hermès Shine Black Niloticus Crocodile Birkin 25 with Gold Hardware (Lot 206): Sold for an impressive €69,300, exceeding its estimate of €36,000 – €40,000.
  • Hermès Matte Chai Alligator Mini-Kelly 20 II with Palladium Hardware (Lot 164): Achieved a remarkable €63,000, well above its estimate of €35,000 – €40,000.
  • Hermès Limited-Edition Black Calf Box Leather So Black Birkin 35 with Black PVD Hardware (Lot 207): Sold for an impressive €47,880, surpassing its estimate of €25,000 – €30,000.
  • Hermès Étain Togo Leather Birkin 25 with Gold Hardware (Lot 113): Achieved a notable €21,420, comfortably exceeding its estimate of €8,000 – €10,000.
  • Hermès Étoupe Togo Leather Retourné Kelly 25 with Gold Hardware (Lot 156): Sold for €21,420, well above its estimate of €8,000- €10,000.
  • Hermès Mushroom Togo Leather Birkin 30 with Gold Hardware (Lot 137): Achieved an impressive €20,160, exceeding its estimate of €8,000 – €16,000.
  • Hermès Natural Courchevel Leather Mini Kelly 20 with Gold Hardware (Lot 172): Sold for €16,380, significantly surpassing its estimate of €5,000 – €7,000.

Conclusion

The Handbags Online: The Paris Edit sale at Christie’s was nothing short of a spectacular success. Gucci’s record-breaking Bamboo bag, the global participation, and the remarkable number of lots exceeding their estimates all underscored the enduring appeal and investment potential of luxury handbags.

It was a moment where fashion, art, and charity converged, leaving an indelible mark on the world of haute couture and philanthropy. This event serves as a testament to the unwavering allure of these fashion treasures, beckoning collectors young and old to indulge in the world of exquisite handbags.

Images: Christie’s

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