To no one's surprise, an Hermés Birkin bag just broke the record for the most expensive bag ever sold.
Auctioned off at Christie's Hong Kong for $379,261 or PHP18,798,071, the sale surpassed the 2008 record holder by $79,000.
The record-breaking handbag is a matte white Himalaya Niloticus Crocodile Diamond Birkin.
It features hardware made of 18-karat white gold, along with straps that are embedded with real diamonds.
The bag is apparently also the rarest in the world, and the staff at Christie's is stoked about the milestone.
According to Christie's International Director of Handbags and Accessories Matt Rubinger, the bag is a top collector's item for being in the Himalaya family alone.
However, the white gold and diamond detailing made it even more valuable, therefore being deemed "the apex of the market" by the director.
Bags from Hermés' Himalaya series are highly-coveted because they use rare albino crocodile skin called the Nilo, whose natural color is a greyish white reminiscent of the snow-capped Himalayan mountains.
The bag that previously held the title was also a Birkin in the same series, and was sold for $300,186 in 2008.
Famous celebrities who own a similar variety of the bag include Kim Kardashian, Victoria Beckham, and local actress Heart Evangelista.
This story originally appeared on PREVIEW.PH.
* Minor edits have been made by the PEP.ph editors.