One bag in particular, the Hermès Matte White Himalaya Niloticus Crocodile Diamond Birkin Bag, just sold for a staggering $217,276 (or £165,122). British Vogue explains what makes it so expensive: "The craft that goes into making it (it's the most time-consuming of all Hermès Birkin bags) and its rarity (it's produced in the most limited numbers and only three have ever come up at auction.)"
In addition to the usual reasons that drive up the price—rare materials, handmade craftsmanship—the fact that a certain style has been discontinued makes it all the more valuable. "In 2005, Hermès used a specific metallic chèvre leather for one season only," British Vogue reports. "For that reason, any bag in this metallic finish fetches fantastical prices."
Scroll down to find out how much five Hermès bags sold for at Christie's latest auction.