Latest news with #luxuryauction
Yahoo
7 days ago
- Entertainment
- Yahoo
Original Hermès Birkin Bag Fetches $10.1 Million at Paris Auction
After 10 minutes of frenzied bidding in Paris on Thursday, Jane Birkin's original Hermès Birkin sold for $10.1 million at Sotheby's in Paris, shattering the previous record by nearly 20 times. Sotheby's said the sale 'establishes new benchmarks for the most valuable fashion item sold at auction in Europe, and the most valuable luxury item ever sold at Sotheby's Paris.' More from WWD Ben Ahlers on 'The Gilded Age,' Being a Meme and His Journey From Iowa to HBO Stardom At Wimbledon, Fashion Matters Just Much as Tennis How Jane Birkin Helped Design Hermès' Most Popular Handbag: Her Inspiration, Royalties and the $10 Million Bag The opening bid was 1 million euros, prompting gasps in the room and sparking an 'electrifying' bidding battle between nine collectors, according to Sotheby's, which fielded bids from within the room, online and over the phone. 'In the end, the handbag that changed fashion history was met with applause as it sold to a private collector from Japan, bidding via telephone through Maiko Ichikawa, country head of Sotheby's Japan.' Billed as 'one of the most iconic fashion items ever created,' the all-black leather Birkin prototype commissioned in 1984 spawned one of the world's most recognizable and coveted handbag styles, and turned Birkin, a British actress and singer, from a style icon into a household name. In the run-up to Thursday's sale, thousands of people attended exhibitions of the handbag in Paris and Hong Kong, and 270 participants from 38 countries registered for Thursday's 'Fashion Icons' auction, with the Birkin bag the star lot. Morgane Halimi, Sotheby's global head of handbags and fashion, said the record-breaking sale price 'is a startling demonstration of the power of a legend and its capacity to ignite the passion and desire of collectors seeking exceptional items with unique provenance.' She also lauded 'the enduring spirit and appeal of its muse, Jane Birkin.' Sotheby's noted that the previous auction record for a handbag was a White Himalaya Niloticus Crocodile Diamond Retourne Kelly 28, which fetched $513,040 in 2021, while the current auction record for any fashion item is a pair of ruby slippers from 'The Wizard of Oz,' which sold for $32.5 million last year. Best of WWD Why Tennis Players Wear All White at Wimbledon: The Championships' Historic Dress Code Explained Kate Middleton's Looks at Trooping the Colour Through the Years [PHOTOS] Young Brooke Shields' Style Evolution, Archive Photos: From Runway Modeling & Red Carpets to Meeting Princess Diana Solve the daily Crossword
New York Times
10-07-2025
- Business
- New York Times
The Original Birkin Sells for $10 Million
The original Hermès Birkin bag that was designed for the actress Jane Birkin was sold at auction in Paris on Thursday for more than $10 million, becoming the most valuable fashion item sold at auction in Europe, according to Sotheby's. The sale surpassed even a hat that had belonged to Napoleon Bonaparte. 'Today, the Birkin has become a veritable fashion icon,' said the auctioneer, Aurélie Vandevoorde, before the bidding started. It is, in fact, 'the most famous bag of all time.' Guests at the auction — many carrying their own Birkins — estimated that the prototype bag would sell for roughly $1 million to $2 million. But the bidding opened at $1.7 million, prompting gasps from the room. Within seconds, higher bids started flying in. As the price ticked up, the room erupted into cheers and claps. In the end, the bag went to a private collector from Japan, with the final price of 8.6 million euros ($10.1 million) including a buyer's premium. The prototype, made in 1984, is marked with Ms. Birkin's initials and includes a nail clipper that the actress had hung on the outside of the bag. It is also crafted differently than the ones sold today. And, of course, it carries with it the storied beginnings of the Birkin. According to fashion legend, Ms. Birkin was on an Air France flight to London from Paris when the contents of her tattered basket bag — wallet, keys, business cards, diapers, cigarettes, glasses — spilled out onboard. Her seatmate happened to be Jean-Louis Dumas, then the chief executive of Hermès, who witnessed this and discussed with Ms. Birkin ideas for a bag that could fit all of her necessities. They began to sketch it out together on an airsickness bag. The final price for the prototype surprised even the current owner of the bag, Catherine Benier, who had purchased it at an auction in 2000 for an undisclosed price. The bag was previously sold by Ms. Birkin at a charity auction for AIDS in 1994. 'I am astonished at the result but, as a passionate collector myself, I am first and foremost profoundly moved by the way other collectors have invested so much fervor in trying to acquire what they clearly desired beyond words,' Ms. Benier, the owner of the Les 3 Marches de Catherine B vintage shop in Paris, said in a statement. 'It made me relive my own bidding battle, 25 years ago.' 'I'm already very nostalgic at the thought of knowing the bag is no longer mine but extremely happy it has found a new loving home,' she added. The previous auction record for a handbag was also for an Hermès bag: a white crocodile Kelly that sold for $513,040 in 2021, according to Sotheby's. The original Birkin, however, fell short of the most expensive fashion accessory ever sold at auction: the ruby red slippers from the Wizard of Oz, worn by Judy Garland, which fetched over $32 million last year.
Daily Mail
16-05-2025
- Business
- Daily Mail
Surprising reason why Pope Leo's childhood home is up for sale in 'luxury auction'
If your current home is lacking a touch of the Catholic spirit, then this listing may be your dream come true. Newly-elected Pope Leo's childhood home in Chicago is up for sale via a 'luxury private auction,' with a reserve price of $250,000 and an auction date set for June 18. The humble abode, located in the suburb of Dolton, was taken off the market after Cardinal Robert Prevost's election last week, but as per the Zillow listing, the childhood home of Pope Leo XIV is up for sale once again - presumably in a bid to cash in on his election. Touted as a 'Piece of Papal History,' the home has been described as a 'truly one-of-a-kind opportunity.' 'This beautifully updated home isn't just a charming three-bedroom, three-bathroom residence... It's the childhood home of Pope Leo XIV, the first American Pope in history,' the description reads. It then goes on to tell the backstory of the single-story home, tempting potential buyers with the 'rare chance to own a tangible piece of his inspiring legacy.' 'Born Robert Francis Prevost in Chicago and raised right here in Dolton, Pope Leo XIV's journey from this humble neighborhood to the Vatican is a testament to faith, perseverance, and purpose,' the listing relayed. Pope Leo's home features a freshly renovated interior, but still offers a 'modern touch while maintaining its original character.' 'With three generously sized bedrooms and full bathrooms on both the main and upper levels, the layout is both functional and inviting,' it continued. 'A touch of personalization to the exterior and landscape will unlock this home's full potential. 'The spacious backyard provides the perfect setting for outdoor relaxation, gatherings, or creative landscaping projects. Whether you're a homeowner searching for a meaningful space to call your own or an investor looking for a property with historical significance and high potential, this is an opportunity like no other.' The 69-year-old, who is first American Pope in history, lived in the house for two decades with his father Louis, a teacher, and librarian mother Mildred and two brothers. The family is believed to have sold the property after the death of the Chicago-born Pope's parents. Mildred died in 1990 and Louis in 1997. The brick bungalow was put on the market for $245,957 on May 5, but was immediately removed again once the Pope was appointed. Estate agent Steve Budzik said the home's owner, who wishes to remain anonymous, was at a doctor's appointment with his pregnant wife when the Pope's appointment was announced. 'He was like, "This is great. This is better than winning a lotto ticket,"' Budzik said. 'I say one in a million [chance of this happening] but it's more in the billions. You'd have a better chance of winning the lotto.' The owner, an electrician, purchased the property in May 2024 for $66,000 and carried out extensive renovations. According to neighbors, the home had fallen into disrepair and had been used as a drug den by previous owners. 'The last couple of years I was pulling my hair out. One family was selling drugs right here and then a second family moved in and there was a lot of violence and fighting and shooting,' Donna Sagna, 50, who lives next door, previously told The Mail on Sunday. An earlier buyer had made a $219,000 offer in April but backed out. One neighbor said the price of the home 'will skyrocket' after the Chicago native's appointment. 'It must be worth at least double now, if not more,' she said. 'Hopefully this will be good for all of us. This isn't a great area so we needed this.'
Bloomberg
16-05-2025
- Business
- Bloomberg
Pope Leo's Childhood Home Goes on Sale at $250,000 Starting Bid
The childhood Chicago-area home of Pope Leo XIV is being sold at a luxury auction following a surge of interest sparked by his election last week. The three-bedroom house in Dolton, Illinois — about 20 miles (32 kilometers) south of downtown Chicago — will open bidding at $250,000, according to Paramount Realty USA, the firm managing the sale.
