A Hermès Birkin handbag, which Christie’s auction house describes as the ‘rarest, most sought-after, most valuable’ of its kind, just broke records at a May 30 auction at the house’s Hong Kong location. According to Christie’s, the Diamond Himalaya Niloticus crocodile diamond 30 cm Birkin with 18k white gold and diamond hardware was sold by a private Asian collector for $300,168. “The diamond pieces created by Hermes are exceptional, but none are nearly as iconic as the Himalaya,” reads a press release from Christie’s. “It is believed that only one or two of the Diamond Himalayas are produced each year, globally, making it one of the lowest production runs for handbags.” The bag was produced in 2008 and sold in 2009. It breaks the previous record-holder, a $222,000 fuchsia diamond-studded Hermes Birkin, according to CNN. “They are certainly an increasingly meaningful asset class,” Christie’s Hong Kong head of sales for handbags and accessories Winsy Tsangtold CNN. In a 2014 interview, 1stdibs dealer Jane Finds told Vogue that the 18-karat white gold hardware and 8.2 carats worth of diamonds aren’t the only rarities. “This bag is made of Nilo crocodile, rendered in a subtle coloration that is meant to evoke images of the majestic Himalayan mountains. This dyeing process is painstaking and takes many hours to complete – the lighter the hue, the more difficult the process.” PETA has taken issue with the practice, and they even made a page exclusively dedicated to the French luxury handbag manufacturer’s operations. According to the animal rights organisation, the high-end luxury provider relies on a factory-farmed supply of crocodiles, adding that it takes two or three of the large reptiles to create a single handbag.