The cheekily named "old bags" auction brought together about 120 women from around the district for a mass sale of second-hand handbags after a social lunch together.
Organised as a fundraiser for the Upper Clutha Children's Medical Trust, the old bags auction will will also assist Christchurch earthquake efforts.
Event organisers Yvonne Gale and Laurel Gilks said the sold-out function had been deluged by donations of handbags from women "everywhere".
"Hundreds of handbags were given by people wanting to help out," Ms Gilks said.
The trust was formed by Bev Rudkin, of Wanaka, to help provide financial assistance for families with sick children who may require costly medical care.
The trust has helped about 16 children and their parents with assistance, Ms Rudkin said.
Because of the "overwhelming support and interest" in the old bags event, organisers of the auction wanted to give something to also help those affected by the Christchurch earthquake, Ms Gilks said.