Collectors can fight to pay £7m for a Birkin – but the ‘it’ handbag is no longer cool | Lauren Cochrane

As prices have ratcheted up, the bag created for Jane Birkin has lost its bohemian edge and its fashion appealThe news that Jane Birkin’s original Hermès bag has sold for a record-breaking €8.6m (£7.4m) at auction will no doubt cause some jaws to drop to the floor. However, perhaps it should not surprise – this is a bag design that is often linked to eyewatering amounts of money. Forty years on from the prototype, it’s now less a (very expensive) symbol of style and elegance, and more a way to signal you have a lot of money and you would like everyone to know that.A Birkin has always been expensive – about $10,000 (£7,400), according to the Guardian last year – but the complicating factor is demand. As was reported, two California residents sued Hermès for a practice known as “tying”, which means customers are expected to pre-spend a sufficient amount on other items, such as homewares or jewellery – some say up to $30,000 – before they are even put on the waiting list for a Birkin. Therefore, wearing one on your arm – to those in the know – shows you have the disposable income that not only means you can buy the bag, but also go through with this practice in the first place.Lauren Cochrane is a senior Guardian fashion writer Continue reading...

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