Bejeweled Hermes handbag expected to break auction record

When is a handbag not just a handbag? The answer to that may come Tuesday, when a Hermes diamond- and white gold-encrusted handbag could fetch a record amount at auction. The limited edition bag, a dream piece for Hermes aficionados, was on display in Beverly Hills on Monday ahead of the auction date.

This particular handbag is better known as a Birkin bag, designed for and named after actress Jane Birkin.

"It was designed for her to replace a wicker basket that she had been using as a handbag basically. And since then, since she's been seen carrying them, it has been the 'it' bag," says Max Brownawell, a consignment director for luxury accessories for Heritage Auctions.

The bag features a subtle coloration, done in Nilo Crocodile in a style the auction catalogue says "evokes images of the Himalayan mountains." The bag is adorned with 18K white gold and studded with 8.2 carats of diamonds.

"A bag like this would likely be purchased by a woman who wants to make sure that she has bag that is better than any other handbag in the room. She likely has a lot of other Birkins, maybe even some other diamond Birkins, but this is really going to be the jewel in her collection," says Brownawell.

While the bag is expected to fetch over $150,000, it could break a 2011 auction record of $203,150, for a similar diamond Birkin purse.

The sale of the Birkin is part of Heritage Auctions' luxury accessories auction which includes 480 handbags from Chanel, Louis Vuitton and other top designers. — Reuters