World's most expensive handbag sells for jaw-dropping price at auction

A Hermès handbag broke a world record when it sold for a jaw-dropping $380,000 at a Hong Kong auction on Wednesday, according to the Associated Press.

The purse in question, a matte white "Himalaya" crocodile skin Hermès Birkin bag with 18-karat-gold buckles and strap loops encrusted with 205 diamonds, sold for the highest price of any handbag ever sold at auction, according to Christie's.

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Pictured: A similar Himalayan crocodile Birkin bag / Photo: Reuters

So, who'd this fancy hangbag steal its new title from?

Well ... itself, kind of.

Naturally, the previous record holder was another Birkin.

In 2016, a Birkin bag having almost identical specifications as the one just sold was auctioned off for a cool $300,000.

If that price tag makes your head spin, keep in mind that the luxury purses are rumored a better long-term investment than gold.

RELATED: See celebs rocking their Birkin bags:

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Celebs with Hermes Birkin bags
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Celebs with Hermes Birkin bags
Kyle Richards arrives at 'Yogi Bear 3-D' Premiere in Westwood Village on December 11, 2010 in Los Angeles, California. (Photo by Steve Granitz/WireImage)
NEW YORK - NOVEMBER 9: (ITALY OUT, NY DAILY NEWS OUT, NY NEWSDAY OUT) Julia Roberts is sighted shopping on Madison Avenue on November 9, 2010 in New York City. (Photo by Arnaldo Magnani/Getty Images)
LONDON, UNITED KINGDOM - MARCH 23: Lara Stone is seen on March 23, 2012 in London, United Kingdom. (Photo by JJ/ROCHAS/Bauer-Griffin/GC Images)
Kim Kardashian and Jonathan Cheban attend the Miami Heat vs NJ Nets Game at Prudential Center on October 31, 2010 in Newark City.
NARITA, JAPAN - APRIL 13: Singer Lady Gaga shows her Hermes bag with hand written message 'I love small monster, Tokyo Love' at Narita International Airport on April 13, 2010 in Narita, Japan. (Photo by Jun Sato/WireImage)
New York, UNITED STATES: A employee holds a 129,000 USD crocodile Hermes Birkin Bag for the press to see during a private opening for the new Hermes store on Wall Street in New York 21 June 2007. The store which is located at 15 Broad Steet is across the street from the New York Stock Exchange. The store is one of several luxury shops opening near Ground Zero as part of a revitalization project in the area. AFP PHOTO/ TIMOTHY A. CLARY (Photo credit should read TIMOTHY A. CLARY/AFP/Getty Images)
FRANCE - FEBRUARY 07: The detail on a Hermes handbag seen in a Paris branch, Wednesday, Feb. 7, 2007. Hermes International SCA, the maker of Kelly and Birkin handbags, said first-half profit rose 9 percent after shoppers bought more perfumes and silk scarves. (Photo by Alastair Miller/Bloomberg via Getty Images)
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