Behold, the world's most expensive handbag

A very rare Hermès Birkin bag has set a new record for the most expensive handbag ever to be sold at auction, fetching an impressive $413,750 from an anonymous bidder.

The Diamond Himalaya Niloticus crocodile bag, which sounds suspiciously like the side project of a 1960s Bond villain, is made from the skin of albino crocodiles and comes complete with 18k white gold and diamond hardware.

"The diamond pieces created by Hermes are exceptional, but none are nearly as iconic as the Himalaya," said Christie's in a press release.

Only one or two are believed to be produced each year, making it one of the world's rarest bags.

While the purchase rivals Kim Kardashian's $27,583 Birkin "customised" by daughter North West's finger painting in the ostentation stakes, the Himalaya may not be such a bad investment. 

Earlier this year, the website Baghunter revealed that an Hermès Birkin made for a better financial investment than gold, delivering an annual return of 14.2% compared to gold’s -1.5% over a 35-year period.