The recent handbag and accessory auction held at Christie’s Hong Kong achieved astonishing results, with a total sales amount of HKD 54,986,400 (approximately USD 7,086,983). The auction recorded a 94% sales rate and a hammer total that exceeded the low estimate by 115%, pushing the annual sales total for this category to new heights. In this auction, the prices of many exquisite handbags far exceeded expectations, with over half of the lots selling above the high estimate.
It is worth noting that the handbag and accessories category continues to attract a new generation of young buyers. Many collectors participate in auctions digitally, demonstrating the digital trend in the auction market. In this season’s autumn auction, 28% of buyers were first-time participants in Christie’s auctions, and over 70% of these new buyers belong to the millennial generation. Additionally, over 40% of collectors choose to bid through online auction platforms, showing the popularity and influence of online auction platforms.
This auction has attracted collectors from 24 countries across four continents, highlighting its international and broad appeal. This not only represents the rise of handbags and accessories as investment and collectible categories, but also reflects the growing interest of global collectors in high-end fashion items.
