Rare handbags disappoint at auction as luxury fashion fervour cools

Gucci partnered with Christie’s to sell the three bags, with the proceeds to go to Save Venice, a charity which seeks "to preserve the artistic heritage” of the Italian city. Photo: Instagram/Christie's Handbags

An auction of rare Gucci handbags disappointed at Christie’s, a sign that robust demand for high-end purses is softening.

Two Gucci Bamboo bags failed to meet the low pre-sale estimate at an online auction held by Christie’s that ended Tuesday (Nov 14), while a third just reached the low estimate, according to preliminary results.