Red Hermes Handbag Auctioned For $203,150

DALLAS (AP) - To the untutored eye, it looks a red alligator handbag. Ah, that is where a Dallas auction house says you missed your mark.

Heritage Auctions announced that it has sold an Hermes Diamond Birkin handbag for $203,150 in bidding that ended Tuesday. Heritage spokesman Matthew Rubinger said the bag went to a collector who wished to remain anonymous.

Rubinger says the bag is made of crocodile hide and features 18-karat white gold, diamond-encrusted hardware. He says a similar bag without the jewels and in lesser condition was sold for $77,000 at auction in England a year ago.

Rubinger says the vivid red color, diamonds and mint condition enhanced the value of the bag auctioned Tuesday.

In all, four Hermes handbags sold at auction Tuesday for a total of $432,938.

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