The “most valuable” handbag in the world will cost you more than $300,000.

An unidentified buyer in a Hong Kong auction spent that much on a white crocodile-skin Birkin bag last week.

A coveted product from Hermes, the Himalayan Nilo Crocodile Birkin is known as the industry’s most elusive purse. CNBC reports that only one or two are produced each year and this Birkin is the most expensive handbag ever sold at an auction.

An undeniable status symbol for deep-pocketed celebs, bold-faced names from Victoria Beckham to Kim Kardashian have been spotted with the uber-expensive bag, which has a dyed crocodile hide, 245 diamonds and an 18-carat white gold clasp.

Mere mortals who can afford the bag’s six-figure price tag of about $280,000 are put on a wait list that can last up to six years.

The bag Christie’s sold hailed from a private collector who acquired it in 2008. The highest bidder was also a private collector — and the amount he or she paid exceed the auction prices fetched by both a Qing Dynasty-era scroll that belonged to Chinese Empress Dowager Cixi and a rare Patek Philippe solar-powered clock.

And for good reason. Hermes collector Jane Finds told Vogue that the Himalayan Birkin is “the rarest 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.”