Christie’s Hong Kong Handbags & Accessories Autumn AuctionACHIEVED SALE TOTAL OF HK$54,585,000/ US$7,033,496
93% Sold by Lot | Hammer Price 150% Above Low Estimate
85% of Lots Surpassed Pre-Sale High Estimate
COMBINED SALE TOTAL OF HK$125 MILLION/ US$16 MILLION
FOR 2021 IN ASIA
THE HIGHEST ANNUAL SALE TOTAL EVER FOR THE CATEGORY
FOR ANY AUCTION HOUSE WORLDWIDE
Affirming Christie’s Global Market Leadership in
Offering the Most Sought-After Handbags at Auction
Hong Kong – On 26 November, Christie’s Handbags and Accessories department made history once again with a record sale total of HK$54,585,000/ US$7,033,496, with a 93% sell-through rate by lot, and hammer price of 150% over low estimate. The packed saleroom saw 85% of lots sell above their high estimates, and attracted fervent bidding particularly among millennial buyers, who comprised 56% of the total number of new buyers. Christie’s LiveTM emerged as the preferred bidding channel, drawing 42% of all buyers.
The top lot of the sale - an Exceptional, Matte White Himalaya Niloticus Crocodile Diamond Retourné Kelly 28 With 18k White Gold & Diamond Hardware, Hermès, 2021, sold for HK$4,000,000 / US$515,416, becoming the most valuable handbag ever sold at auction.
Another record set was the auction debut of a Rare and Exceptional, Multicolor Feather Embroidery and Étoupe Swift Leather Sellier Mosaïque Kelly 32 With Palladium Hardware, Hermès, 2010, which sold for HK$2,750,000/ US$354,381 against the pre-sale low estimate of HK$600,000/ US$77,320.
In the charity section of the sale, a selection of Hermès handbags from the personal collection of Mrs. Mary Hotung (Jing-Jing Yung) fetched HK$725,000/ US$93,428, with sale proceeds to benefit Ho Tung Culture Development Foundation Limited which supports the all-rounded development of Hong Kong students. Additionally, a group of exquisite handbags sold to benefit Mind HK to improve awareness and understanding of mental health in Hong Kong, totalled HK$108,750/ US$14,014.
Propelled by this record-breaking sale, the category achieved a combined sale total of HK$125 Million/ US$16 Million this year, the highest annual sale total ever for the category at any auction house worldwide, underscoring Christie’s global market leadership and unrivalled expertise in offering the most valuable and coveted handbags at auction.
