If you've ever felt bad about blowing your paycheque on a designer bag, this will make you feel better.
A 10-year-old white Himalaya Birkin has broken the European record for a bag sold at auction, when it went for £162,500 (NZ$310,062), beating the previous record of NZ$295,789.
The crocodile skin bag is encrusted with 450 diamonds and white gold, and fewer than 50 have been known to exist worldwide, The Daily Mail reports.
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The bag costs just as much as the price of a decent-sized piece of land in Northland, or half the price of a house in Canterbury. You could even buy a 16-metre yacht and still have spare change.
So who would even consider paying this much for a bag? Rich A-list stars such as Victoria Beckham, Kim Kardashian, Beyonce and Mariah Carey are some potential customers.
The Daily Mail reports Victoria Beckham is rumoured have a collection of more than 100 Birkin bags worth a total of around $2.5 million.
The starting price for the most basic version of a bag is around $11,000, and even if you have the expenses, you will still be interviewed by waiting staff before joining a waiting list of several years.