Hermes Birkin sells for record 250 million won

/ Courtesy of Christie's

By Rachel Lee

A Hermes Birkin handbag has sold at auction for a record 250 million won ($HK1.72 million).

An anonymous phone bidder bought the fuchsia, diamond-encrusted crocodile skin 2014 bag at Christie's handbag and accessories sale in Hong Kong on Monday.

A gold and diamond bag owned by Elizabeth Taylor held the previous record of $218,000, set in 2011. A Hermes Birkin bag sold for $203,150 at auction that year.

Birkin ownership has become a status symbol for some women since the luxury handbag maker gained a reputation for the best bags on the market. They are also known for their scarcity and long waiting lists. Customers include Victoria Beckham and Korean celebrities Lee Young-ae and Ko So-young.

Actress Jane Birkin inspired the design. In 1981, Hermes Chief Executive Jean-Louise Dumas was sitting next to Birkin on a flight. She complained that she was unable to find a suitable leather weekend bag, and Dumas went on to design a carryall tailored to her needs.

Birkin recently complained that the bag is "bloody heavy" and said "I'm going to have to have an operation for tendonitis in the shoulder." That said, she continues to carry the hugely popular accessory.