Fugitive Hong Kong Mogul Auctions Up to $2 Million in Luxury Handbags

What’s new: A collection of 77 rare luxury handbags owned by fugitive Hong Kong real estate tycoon Joseph Lau Luen-hung is hitting the auction block at Sotheby’s, with an estimated value up to HK$16.3 million ($2 million).

The lot, which features an dazzling array of luxury brand Hermès bags curated by the billionaire over the past two decades, from limited-edition pieces such as a bronze metallic Kelly to the six diamond Birkins, is the first batch of the largest single-owner handbag sale ever held in Asia, according to Sotheby’s. It’ll be followed by a second installment in July, the auction house said.