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Spink has teamed up with Brand Connection Paris for its first auction of luxury handbags and accessories, which will be held at Spink Hong Kong Galleries in the Sheung Wan district of Hong Kong Island.

The April 18 sale will comprise 120 handbags from brands such as Hermès, Chanel and Louis Vuitton and estimates range from HK$5,000-500,000. It will follow this by a second in September and hopes to hold three auctions next year. In the longer term it may consider holding a handbag sale in the UK.

Many luxury brands, such as Hermès, operate waiting lists for desired handbag designs, causing the demand for second-hand items to surge.

The auction market for second-hand luxury handbags is a growing sector among auction houses such as Christie’s and Heritage, and Asia, particularly Hong Kong, is a major focus.

Fellows, Aston's Auctioneers and Sworders are among the UK regional auction houses to have taken advantage of this market.

In 2016 a rare Himalayan crocodile Birkin with white gold detailing and 245 diamonds became the most expensive handbag to sell at auction when it was bought for $300,168 (including premium) at Christie's Hong Kong.