There’s a new record in conspicuous consumption: a Hermès piece has the title of highest price for a handbag sold at public auction… for $203,150. The sale took place in Dallas, Texas and involved, unsurprisingly, the label’s most iconic style: the Birkin.

The bag is officially called “Hermès Exceptional Collection Shiny Rouge H Porosus Crocodile 30 cm Birkin Bag with Solid 18K White Gold & Diamond Hardware,” which is what I will name my race horse. The meaning of the name amounts to “red and crocodile skinned,” as you can see. The bag went to its new owner on December 6th and he/she wished to remain anonymous, what with the current climate of outrage at economic inequality and such.

But wait! There’s more. According to WWD:

Three other Hermès handbags set new records in the sale. An Hermès 35 cm Matte Brighton Blue Porosus Crocodile Birkin Bag with Palladium Hardware sold for $113,525; an Hermès 35 cm Shiny Braise Red Porosus Crocodile Birkin Bag with Palladium Hardware went for $95,600; and an Hermès Ultra Rare 30 cm Himalayan Crocodile Birkin Bag with palladium Hardware fetched $80,663.

Honestly, we think all of that is fucking preposterous. But many people disagree and, this Christmas, some lucky person will be among them.

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(Thumbnail via HuffPo, main image via WWD)