HONG KONG (AP) — Christie's says a luxury handbag has shattered the world auction record in Hong Kong.

The auction house didn't identify the buyer of the matte white crocodile skin Hermes Birkin bag with 18 karat gold and diamond hardware at Wednesday's sale.

It fetched 2.94 million Hong Kong dollars ($380,000), which Christie's says is a record for any handbag sold at auction.

The price surpasses the record set a year ago when Christie's auctioned a similar Birkin bag for $300,000.

The highly coveted bag was created in 1984 by French luxury label Hermes in honor of British singer and actress Jane Birkin. It's famous for a stratospheric price tag, celebrity owners and a years-long waiting list.