A luxury Hermes handbag shattered the world auction record in Hong Kong on Wednesday, fetching an eye-popping $380,000, Christie’s said.

The auction house did not identify the buyer of the matte white ‘Himalaya’ crocodile skin Hermes Birkin bag. The handbag was produced in 2014 and has 18-karat gold buckles and strap loops with 205 diamonds.

It fetched HK$2.94 million, which Christie’s says is a record for any handbag sold at auction.

The price surpasses the record set a year ago when Christie’s auctioned a similar Birkin bag for $300,000.