A Hermes pink crocodile skin Birkin bag has sold for $221,763 at Christie's Hong Kong, a new world record for a handbag.

Hermes handbags sell exceptionally well at auction

It crossed the block earlier today - beating the previous record of $203,150, set for another Hermes bag at Christie's in 2011, by 9.1%.

Handbags, those produced by Hermes in particular, are increasingly sought after as high-end investment pieces.

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