Checkout this N118 million bag made from crocodile skin

- New record set as handbag fetches a whopping N118 million in auction

- The bag was reportedly purchased by an unidentified buyer from Hong Kong

- Previous highest sale price ever recorded was N93 million for similar handbag

- The bag is said to be costly because it’s extremely rare, but that’s not all

What would you do with N93 million in Nigeria? Many would agree that this kind of cash can achieve much more than buying one of the most expensive cars in Nigeria.

Somewhere in the world, a handbag has just been bought at a jaw-dropping US$ 380,000 (N118 million). The extremely rare bag made of crocodile skin was purchased by an unidentified client from Hong Kong, during an auction.

“The handbag was initially valued at N60.3 million, then N80.6 million, and now it has broken a record,” says Christie's, auction house.

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The Birkin handbag, which is made up of diamonds, 18 karat gold and special leather, is the new record holder after it crushed a price record of $300,000 (N110 million) previously held by a similar purse.

The costly bag was originally created in 1984 by Hermes, a French luxury libel and was named after a renowned British celebrity Jane Birkin.

It has reportedly been in waiting list for years and is mostly associated with some of the richest celebrities in the world.

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Watch this video to see the most expensive ladies' handbags in the world:

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Source: Legit.ng