When the gavel fell inside Sotheby’s Paris saleroom, spontaneous cheers erupted. What had just unfolded wasn’t just another luxury auction — it was a spectacle of wealth, ego, and strategy. On the other end of a phone in Tokyo, Japanese businessman Shinsuke Sakimoto had just won the original Hermès Birkin bag for a staggering $10.1 million — the most expensive handbag ever sold.

And he was thrilled — and nauseous.

“It was very exciting, but it really made me sick to my stomach,” said Sakimoto, 43, in his first major interview since the sale.

Sakimoto is the CEO of Valuence Holdings, a luxury resale empire built on used handbags and circular fashion. But this wasn’t just about resale. Or even fashion. This was psychological warfare.

“We were strategizing how to inflict psychological damage on our opponents and force them to give up,” Sakimoto recalled. He used the Japanese words “aite” (opponent) and “teki” (enemy) to describe his eight competitors.

The auction lasted only ten minutes but opened with an immediate million-euro bid — instantly making it the most expensive handbag sale in history. By the time the bidding hit 6 million euros, applause broke out in the usually restrained Sotheby’s room. At 7 million euros, the room erupted. Sakimoto had just made history — and a point.

“It was the most expensive purchase I’ve ever made for a single item,” he admitted. But behind the showmanship lay a carefully calculated corporate move.

Sakimoto, a former pro soccer player turned luxury magnate, knew exactly what he was doing. “It was certain that the winning bid would break the record, which meant it would be reported all over the world,” he said. “Everyone agreed and understood that this was a good investment.”

Indeed, the purchase wasn’t made in his name — it was made on behalf of Valuence. The company estimates that the global media exposure alone will generate billions of yen in advertising value over the next decade. In American terms: an eight-figure PR return.

“It’s not about being a rich man collecting toys,” he emphasized. “This is about creating a new model of ownership — for companies like ours and society to share, together.”

Valuence has no intention of flipping the historic Birkin back into the resale market. Instead, Sakimoto says it will be preserved, possibly displayed, and treated as a corporate artifact. A $10 million talisman of luxury, circularity, and strategy.

The bag in question is more than just an accessory. Designed in 1984 for English actress Jane Birkin by Hermès chairman Jean-Louis Dumas after a chance encounter on a flight to London, the prototype became a legend. Birkin had spilled the contents of her earlier Hermès Kelly bag and jokingly suggested a bigger, more functional alternative. She sketched it on an airplane vomit bag.

The result was a simple black leather tote engraved with “J.B.” and adorned with nail clippers — Birkin’s personal touch for her famously manicured hands. She used it every day from 1985 to 1994, before selling it to benefit AIDS research.

Since then, the Birkin has become a global icon of wealth and taste. But this particular one — the original — has been displayed in the Museum of Modern Art and London’s Victoria & Albert Museum. It’s more artifact than accessory.

Sakimoto, who until recently wasn’t even a die-hard Birkin fan, now finds personal meaning in its legacy. “The more I looked into Jane Birkin’s life and stance, the more I realized how fascinating she was,” he said. “I felt that I have a very strong connection with these people… their role as ambassadors really matches our company’s philosophy.”

That philosophy revolves around circularity. Valuence claims its resale model has saved 5.3 million tons of carbon dioxide emissions and over 70 billion gallons of water in the past year alone. For a company rooted in reuse, what better mascot than a 41-year-old handbag still going strong?

Still, don’t be fooled by the noble messaging — Sakimoto didn’t go in soft. “Hit back in three or five seconds,” he instructed his phone bidder during the auction. “Be aggressive.”

The bag cost $10.1 million. The shipping, import duties, and conservation costs will add another $2 million. And yet, for Sakimoto, the price was right — because the point was made.

This wasn’t just about buying history. It was about owning the moment. And making sure everyone knew exactly who won.