A French maison, a Japanese artist, and a New York auction house just made history.
A limited-edition handbag Louis Vuitton created in collaboration with Yayoi Kusama sold for US$151,200 (HK$1.17 million) via Christie’s New York on Wednesday, setting two new world records in the process.
Kusama first began working with LV in 2012, creating playful versions of the Keepall, Neverfull, Papillion, and Speedy that were adorned with her signature dots. Just over a decade later in 2023, the contemporary artist put her quirky stamp on more of the French fashion house’s designs. (You might remember the bonkers co-branded pop-up that opened in Japan.) Clothing and accessories from both collections sell for a premium on the secondary market, but it was a “pumpkin bag” from the most recent drop that achieved the new records.
Image courtesy of Christie’s New York
As the name suggests, the distinctive design was inspired by Kusama’s iconic pumpkin sculptures and prints. Crafted from grained cowhide leather, the yellow bag is shaped like a pumpkin and covered with black LV monograms and motifs. The piece is not only quirky and cute but also highly collectible. This particular example was expected to fetch between US$10,000 and US$15,000 (HK$77,835 and HK$116,755) but hammered down for roughly 10 times that to set a new record price for the model and any LV bag to sell at auction. The previous records were held by another pumpkin bag that sold for US$44,100 (HK$343,260) at Christie’s in December 2023.
Image courtesy of Christie’s New York
Interestingly, the pumpkin bag wasn’t the star of Christie’s inaugural Handbags Online: The September Edition auction. The top lot of the sale was a rare Hermès Himalaya Retourné Kelly 25 with matte niloticus crocodile and palladium hardware that sold for US$163,800 (HK$1.27 million). Two coveted Hermès Birkins also sold for US$119,700 and US$63,000 (HK$931,715 and HK$490,375), respectively. The results highlight the fact that Birkins and Kellys remain the holy grails for collectors, proving to be solid investments that appreciate over time. A Himalaya crocodile Retourné Kelly 28 sold for a record US$513,200 (HK$3.99 million) at Christie’s in 2021, in fact. Christie’s currently holds the record prices for the most expensive Hermès, Louis Vuitton, and Gucci handbags to sell at auction.
Nearly all (99 per cent) lots part of Handbags Online were sold, resulting in an impressive total of US$1,931,202 (HK$15 million). Not bad for 118 bags.
