Talk about an investment piece. An Hermès Himalayan Nilo Crocodile Birkin bag with 18K white gold hardware, fetched $185,000 at auction Tuesday.

The collector’s item has 242 diamonds with a total weight of 9.84 carats. While a standard Birkin is notoriously hard to come by, adding the skin of an extremely rare, almost albino crocodile makes this bag truly one-of-a-kind.

Considered to be “one of the most desirable handbags in the world,” the crocodile Birkin is now the second most-expensive handbag ever auctioned. In 2011, a different diamond Birkin was sold for $203, 150 in a Heritage Luxury Accessories auction in Dallas.

This sale was part of Heritage Auctions’ Luxury Accessories Signature Auction in Beverly Hills, which also included 480 handbags from top designers such as Hermès, Chanel and Louis Vuitton.

Kathleen Guzman, a Managing Director at Heritage Auctions, noted that demand for luxury items, especially accessories, has been on the rise in recent years. The proof is in the final sale, which easily surpassed the anticipated price pre-auction of $150,000.

“It’s an incredible caliber of handbag and a spectacular price,” Guzman said.

“The consignor, who was in attendance, stated that she was very happy with the auction and the prices her bags brought.”