The largest handbag sale by a single owner in Asia was reportedly hosted by a Hong Kong property tycoon offloading dozens, most of which were by Hermes.
Hong Kong billionaire Joseph Lau sold 76 Hermes handbags and one Chanel handbag for a total of HK$25.2 million ($3.2 million) through an online auction by Sotheby’s.
At over HK$1.5 million, the most expensive sale was a 2006 Bleu Jean Shiny Porosus Crocodile Birkin 25, which features 18-karat white gold and diamond, according to results posted online.
1,000+ Remaining
Even after hosting the largest single-owner handbag sale in Asia, Lau still has ample reserve. According to a statement from a representative, Lau’s family previously bought over 1,500 Hermes bags as gifts and they still currently own more than 1,000.
The 71-year old Lau is a renowned real estate tycoon in Hong Kong and the former chairman of property developer Chinese Estates. According to Forbes, he has an estimated net worth of $13.2 billion.
