A Hong Kong collector has set the highest bid for a bag, on a very rare Birkin bag at Christie's Auction house on Monday. This is the Himalayan Nilo Crocodile Birkin, designed in 2008 and encrusted with 245 diamonds and an 18-karat white gold clasp.

A Hong Kong buyer who chose to remain anonymous, won the bag for $300,168.

It's the most expensive bag ever sold in history.

This particular model of a bag belongs to celebrity owners like Victoria Beckham and Kim Kardashian.

According to Hermes collector Jane Finds who told Vogue:

“The 30-centimeter diamond Himalayan Birkin is possibly the rarest and most desirable handbag in the world. This bag is made of Nilo crocodile, rendered in a subtle coloration that is meant to evoke images of the majestic Himalayan mountains. This dyeing process is painstaking and takes many hours to complete—the lighter the hue, the more difficult the process.

“This is arguably the rarest, most spectacular, and most jaw-dropping Birkin to ever be made, and it is likely the only time a bag of this caliber will be offered on the luxury resale market.”

A bag. Costing $300k. Ouch.