If you have more than 1,500 Hermes bags, as well as other houses as gifts for your family members, then this is either a rather eccentric collection or a very serious investment. Hong Kong Chinese billionaire Joseph Lau sold 77 “items” from his said collection at an auction by international house Sotheby’s for $3.2 million, or HK$25.2 million, Bloomberg reported in a related publication. The event, titled “Part One of Joseph Lau’s Magnificent Collection,” was billed as the largest one-man handbag sale in the Southeast Asian market. A portion of the proceeds will go to charity, the auction house said, without disclosing the percentage.

It was put up for auction by the Chinese billionaire and well-known collector Joseph Lau.

What exactly was in the said collection? The sale included 76 Hermes bags and one from the equally famous haute couture house Chanel. Among them are six Birkin bags encrusted with diamonds (Hermes) and an extremely rare bronze Kelly model (Chanel). The most expensive was the 2006 Bleu Jean Shiny Porosus Crocodile Birkin 25 in 18K white gold and diamond settings, which was valued by a buyer at HK$1.53 million, according to results published on Sotheby’s website. Joseph Lau bought more than 1,500 Hermes bags as gifts, and his family still owns more than 1,000 bags, according to a spokesman for the tycoon. The billionaire and former chairman of Hong Kong real estate group China Estates Holdings is a renowned collector in the auction world. The 71-year-old runaway tycoon bought his daughter a 12-carat blue diamond for 48.6 million Swiss francs ($52.9 million) in 2015, a record high at the time. Lau also owns well-known paintings such as Andy Warhol’s “Mao” and Jean-Michel Basquiat’s “Everything Must Go”, which he plans to exhibit in his own London art gallery. Notably, Joseph Lau was charged with money laundering and bribery in Macau, but due to the lack of an extradition agreement between Hong Kong and Macau, he never served his term.