Would you pay half a million for this handbag?

IT COSTS as much as a house in some parts of Australia, but who needs somewhere to live when you can have this Hermès Birkin handbag?

A rare Hermès Birkin bag sold at auction early Wednesday morning at Christie’s in Hong Kong for a whopping $505,000.

It’s set a record as the priciest handbag ever sold at auction.

In 2016, a similar style was scooped up at Christie’s for around $497,000.

The coveted purse — which costs as much as house in some parts of Australia — is the Niloticus Crocodile Himalaya Birkin 30.

A Matte White Himalaya Niloticus Crocodile Diamond Birkin with 18K gold and diamond hardware is one of the most valuable handbags in the world. Picture: AFP/Isaac Lawrence

It features diamond-encrusted hardware and has been dubbed the “Himalaya” because the delicate gradation of colour from smoky grey to pearly white resembles the snow-capped mountain range.

One might have a better chance of climbing to the top of the Mount Everest than scoring one of its namesake bags — they’re considered the rarest of Birkins. The French luxury goods company reportedly only makes one or two each year.

Matthew Rubinger, the international head of handbags and accessories at Christie’s, told the South China Morning Post that the “extreme rarity, iconic status and craftsmanship” has continued to send Himalaya Birkin prices into another stratosphere.

This article originally appeared on the New York Post and has been republished with permission.