Hermes Birkin bag sells for $222,000 in Hong Kong, setting auction record

A Hermes designer handbag smashed a world auction record in Hong Kong on Monday June 1 when it was sold for 1.72 million Hong Kong dollars ($222,219) at the Famous Christie's auction house.

A mystery phone bidder bought the crocodile skin Birkin Bag in fuschia with 18 white karat gold and diamond hardware. The previous record was set at a U.S. auction in 2011 for another Birkin Bag, in red crocodile skin, that sold for $203,150.

The Birkin Bag was designed for and named after British actress Jane Birkin. It's famous for having a price tag in the thousands of dollars and a years-long waiting list.

A similar black Birkin Bag was offered for auction but didn't sell after failing to attract the minimum bid of 1 million Hong Kong dollars ($130,000).