A limited-edition Hermès handbag is expected to fetch $50,000 to $60,000 when it comes up for auction Thursday.
Christie's plans to sell the bag – a 2015 Bleu Colvert Porosus Crocodile Ghillies Birkin 35 – at its online auction on June 22.
"This bag is very collectible, and very rare," says Caitlin Donovan, Head of US Sale for Handbags & Accessories at Christie's.
What makes the designer bag command such a high price? The auction house said the value of a designer handbag is determined by a number of factors, including size, style, and condition.
"Porosus Crocodile is the finest of all the mediums that Hermès uses to make their handbags," says Donovan. Hermès also follows a rigorous dying process and Bleu Colvert is one of the most collectible colors on the market, according to Christie's.