A Hermès Birkin with diamonds set a record in Hong Kong on Monday as the most expensive handbag sold at an auction — ever.

The bag was up for auction at Christie’s afternoon handbags and accessories sale and sold for 1.72 million Hong Kong dollars or $221,846, reports the Wall Street Journal. The Birkin was bagged by a phone bidder, whose identity is unknown.

The latest luxury sale beat out the previous record holder, which was also a Hermès Birkin bag that sold for $203,150 at a 2011 Heritage Auctions sale in New York. The WSJ points out that though a diamond and gold evening bag once owned by actress Elizabeth Taylor sold for $218,500 through Christie’s in New York in 2011, that bag was listed in the jewelry category.

Hong Kong and China has been experiencing a slump in luxury item sales as both Gucci and Chanel have been slashing prices in that market in recent months. But the record-setting sale suggests there’s still an appetite for high-end accessories — at least at the auction block. Though the Hermès Birkin that was sold on Monday went for a hefty price, it should be noted that the luxury company has other versions of the Birkin that are priced much, much higher.

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