It seems fashionistas will do anything to get their hands on a bag from the Hermes collection. And if you want to be the one sporting the crocodile bag this fall you might need to have hundreds of thousands.

Red

Red Hermes Crocodile Diamond Birkin handbag has sold for $203, 150 at an auction. Photo: Heritage Auctions' Web site

An anonymous bidder has paid $203,150 for the Hermes Diamond Birkin handbag in a bidding that ended Tuesday, Heritage Auctions announced.

But this isn't just any handbag. It is a red crocodile Birkin bag that has solid 18-karat white gold and diamond hardware such as locks and keys.

It makes absolute sense that the bag was sold for as much as it did because Hermes bags, especially Birkins, are quality handmade handbags. The crocodile Birkin with diamond-encrusted hardware, however, is a very elusive handbag and a collector's item.

The red handbag is officially named Hermes Exceptional Collection Shiny Rouge H Porosus Crocodile 30 cm Birkin Bag with Solid 18K White Gold & Diamond Hardware.

Heritage spokesman Matthew Rubinger told The Associated Press that a similar bag in poorer condition -  without the diamonds - sold last year in London for $77,000.

It has been reported that the waiting list lasts six years.

WGAL has reported that the diamond handbag has set a world record price for a purse sold at public auction.