Hermes is clearly the gold standard in luxury accessories

A trio of Hermès handbags, two Birkins and one Kelly, were the shining stars in Heritage Auctions' $708,200+ inaugural Luxury Accessories Auction, held Dec. 13, 2010. The auction saw a 92% sell-through rate on lots sold and saw more than 70 bidders take home handbags and accessories from the more than 160 competing. All prices include a 19.5% Buyer's Premium.

"Our expectations for this first auction were quite high and I'm pleased to report that we exceeded them," said Matt Rubinger, Director of Luxury Accessories at Heritage. "Although the sale was in Dallas, and the room had many floor bidders, the major buyers were in Los Angeles and New York and the response before and after the auction has been tremendous. People are very excited about this new category both as buyers and consignors, and the success of this auction has ensured that we'll continue to hold Luxury Accessory auctions for some time to come."

The top Hermès heavyweight came in the form of a 35cm Matte Black Porosus Crocodile Birkin Bag with Palladium Hardware, a bag that celebrities and royalty alike spend years on a waiting list to acquire - and widely regarded as perhaps the finest Hermès bag in creation - rose to the top of the elegant assemblage to bring $50,788.

An Hermès 32cm Shiny Bleu Saphir Alligator Kelly with Gold Hardware was not far behind, proving to be the sleeper of the auction when it rose amidst spirited bidding to bring $47,800, while an Hermès 30cm Shiny Fuchsia Porosus Crocodile Birkin Bag with Palladium Hardware, which was the subject of much pre-auction buzz and press coverage, lived up to its well-deserved hype when it finished the day at $41,825.

"Hermès is clearly the gold standard in luxury accessories," said Rubinger, "and the prices Hermès pieces brought in the auction bear that out. The amounts collectors are willing to spend on the best examples make it clear that these handbags double as investments as well as stylish accessories."

Further Hermès highlights include a 30cm Chocolate Togo Leather Birkin Bag with Palladium Hardware that brought $15,535, while a special 25cm Fuchsia Ostrich Birkin with Palladium Hardware equaled that mark at $15,535, a 35cm Horseshoe Stamp Vert Fonce & Blue Jean Clemence Leather Birkin with Gold Hardware finished at $14,340 and a one-of-a-kind 20cm Shiny Vert Foret Alligator Mini Kelly with Gold Hardware showed considerable strength at $13,145.

Louis Vuitton Show Bags were much sought-after in the auction, in particular the extremely rare Vison Monogramme Mink and Black Alligator Le Fabuleux Bag, 2004 Les Extraordinaires Collection, a stunning bag that was the flagship piece of the 2004 Fall/Winter Les Extraordinaires Show Collection, one of just five made available in the United States at the time, realized $8,963, while a Louis Vuitton by Takashi Murakami & Marc Jacobs 2003 Limited, Numbered Production Eye Love Multicolore extremely rare Eye Love You bag was the subject of intense bidding before finishing at $3,734.

Judith Leiber is always a popular name in Luxury Accessories, and a collection of her stunning and whimsical minaudieres had collectors in all corners of the country trying to get a hold of one. The top offerings of the grouping came in the form of a Colorful Full Bead Money Satchel Minaudiere Evening Bag< and a rare Tomato Full Bead Minaudiere Evening Bag, both of which rose to $4,183.