As far as handbags go, an Hermès Birkin bag is one of the most expensive in the world. And that's before you add detailing like crocodile leather and diamond-encrusted hardware — both of which were included on the rare piece that sold at auction overnight. 

Christie's held an auction last night that included a 2008 Himalaya Niloticus that was finished with 18k white gold and diamond-encrusted hardware. It was estimated to sell for between Dhs491,000 and Dhs737,000 but instead sold for a whopping Dhs798,771.

Its hefty price tag makes it the most expensive handbag ever sold at an auction in Europe.

According to the BBC, the piece is 10 years old and is categorised as being in "grade 2 condition" which means it has no obvious flaws. The Himalaya is one of the rarest Birkin designs, with only one or two pieces made each year due to the time-consuming nature of its production. 

Another Birkin holds the record for the most expensive handbag ever sold at auction, having sold for an astonishing Dhs1.2 million in Hong Kong last year. 

There's a reason experts say the bag is better investment than the stock market...

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