The appraised work is a black pebble leather Christian Dior clutch with gold-tone hardware, matching leather trim, logo adornment at front, dual cutout top handles, black leather interior with a gold heat stamp and fold over flap closure at front. The estimate provided is based on comparables recently offered and sold at auction. Vintage Dior convertible clutches similar to the appraised subject are not as common as some of Dior’s other styles, particularly the iconic Lady Dior and Saddle bags, and therefore do not come up for sale as often. However, recent examples overall achieved prices within or slightly above their high presale estimates. It should be noted that most auction examples Mearto identified were convertible clutches featuring a monogram canvas material, indicating a desire amongst collectors for this particular style. The appraised work’s size, condition (based on photographs provided), as well as the overall market for Dior convertible clutches were all taken into consideration when determining the estimate. In many cases, prices for similar examples available on the primary (retail) market vary, and are often higher than secondary (auction) market examples.