Despite all the headlines surrounding Hermes, the most expensive handbag this year is not made by the storied label. Instead, that coveted title goes to the Mouawad 1001 Nights Diamond Purse valued at a whopping US$3.8 million.

Even so, Hermes has continued to dominate the long list of prized women’s purses for decades now. Its collaboration with Japanese designer, Ginza Tanaka for instance, has given birth to the creation of the all-platinum Hermes Birkin studded with over 2,000 diamonds.

The craftsmanship, tectonics and materials that go into the making of these bags make them extremely precious and valuable. The hours invested into the creation of a handbag will also determine its worth. Brand owners and fashion houses also ensure exclusivity as these pieces are often made to order, upping its appeal amongst elite and loyal customers around the globe.

Besides enhancing a look, a bag makes for a great addition to any collection. They are great investment pieces with resale potential that can increase astronomically over time – especially with the more limited edition bags.

As you look to own your next luxury handbag, here’s a look at some of the most expensive handbags in 2018 and what makes them so valuable.