A scarce Hermès Birkin bag bought at auction early Wednesday morning at Christie’s in Hong Kong for the whopping $382,000 USD.

It’s established a record as the priciest handbag at any time sold at auction.

In 2016, a similar style was scooped up at Christie’s for approximately $377,000.

The coveted purse – which fees just as much as a studio apartment around the Higher East Facetmay be the Niloticus Crocodile Himalaya Birkin 30.

It options diamond-encrusted hardware and it has been dubbed the “Himalaya” because the fragile gradation of color from smoky gray to pearly white resembles the snow-capped mountain selection.

A single might have a greater potential for climbing for the best on the Mount Everest than scoring a single of its namesake baggage: They’re regarded the rarest of Birkins. The French luxurious items business reportedly only makes a person or two each and every 12 months.

Matthew Rubinger, the intercontinental head of handbags and equipment at Christie’s, tells the South China Morning Article the “extreme rarity, iconic standing and craftsmanship” has ongoing to ship Himalaya Birkin prices into another stratosphere.