The one-of-a-kind Birkin handbag that Hermès crafted for actress and singer Jane Birkin in 1984 fetched €8.58 million ($10 million) at a Sotheby’s sale in Paris on 10 July, setting a new world record for any handbag sold at auction. The winning telephone bid, placed by a private Japanese collector after a rapid 10-minute contest involving nine would-be buyers, crushed the previous benchmark of $513,040 set in 2021 for a diamond-studded Hermès Kelly 28. Often described as the prototype for the now-iconic Birkin line, the black leather tote bears Birkin’s “J.B.” initials, a non-removable shoulder strap and other design details that differentiate it from later commercial models. Birkin used the bag for nearly a decade before donating it to charity in 1994; it last changed hands in 2000 before resurfacing at this week’s “Fashion Icons” auction, timed to coincide with Paris Haute Couture Week. Industry observers said the price underscores continued demand for unique luxury collectibles despite a softer broader market. Sotheby’s noted the piece is now the second-most expensive fashion item ever auctioned, trailing only a pair of ruby-red slippers from “The Wizard of Oz” sold for $32.5 million last year. Valuence Japan Inc., named by Bloomberg Línea as the buyer, said it plans to preserve and exhibit the handbag rather than resell it.