Preowned luxury

The world's biggest auction house looks to Asia to sell secondhand designer handbags, Sun Yuanqing reports.

Hermes Birkin handbags have always been a symbol of status and craftsmanship. But with a waiting list that seems to go on forever, a sharp eye for preowned bags is equally valuable.

At 26, Matt Rubinger has made not only a career but a name for himself by trading in quality preowned Birkins. Once a schoolboy selling bags from his dorm room, Rubinger has been in the preowned designer bag business for more than a decade and is among the trade's most celebrated experts.