At 4 p.m. sharp, the auction begins. “Much more than a simple bag, the Birkin has evolved from a simple accessory to a timeless cultural icon,” the auctioneer tells the room. The bag is Lot 8, and only pre-registered clients are allowed to bid—they hold the premium white paddles and sit in the two front rows. We start with an Azzedine Alaïa black lambskin ensemble from the fall 1983 collection, which sells for $3,200. Next, a draped black dress embroidered with hummingbirds from Alexander McQueen’s resort 2008 collection, then more Alaïa, and Vivienne Westwood. Conservation hums softly, rising as we get closer to Lot 8. Finally, we’re there.

Across 10 minutes, paddles rise at speed and hands shoot up from the phone bank. Bidding opens at €1 million ($1.7 million) to loud gasps—that single bid broke the previous world record for a handbag sold at auction, set in 2021 by the Hermès White Himalaya Niloticus Crocodile Diamond Retourne Kelly 28 which went for $513,040. Nine collectors emerge across the phones, online, and in the room in a manic exchange of bids. Eventually, the gavel comes down on a hammer price of €7million ($8.2 million). After the fees and buyer’s premium, the final price is a staggering €8.6 million ($10.1 million). The bag was sold to a private collector from Japan, who bid via telephone through Maiko Ichikawa, the head of Sotheby’s in Japan.

“The spectacular sale of the original Hermès Birkin today…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, to own its origin,” says Morgane Halimi, Sotheby’s global head of handbags and fashion.

“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,” Benier, the seller of the Birkin, says. “It made me relive my own bidding battle, 25 years ago, and how raw and indescribable the feeling of winning over this wonderful bag was. 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. I wish the new owner as much happiness as I experienced with it.”