'Rare' Hermes handbag goes under the hammer for $185,000

A rare Hermes handbag has been auctioned for a whopping 185,000 dollars, making it the second-highest priced collectors' item.

The diamond and Himalayan Nilo Crocodile Birkin handbag is made from a light-skinned "almost albino" crocodile, which is extraordinarily rare, and has 242 diamonds with a total of 9.84 carats, and 18-karat white-gold hardware, CBS News reported.

Kathleen Guzman, managing director of Heritage Auctions revealed that it took a Hermes designer a full year to create the handbag, which was expected to go for 150,000 dollars.