I really enjoyed this thread and can identify so much with a lot of the answers. I understand the quality over quantity aspect. However, it must be said, that if we were to design and produce a realllyyyyyyy high quality bag by a local, no-name leather-specialist or handbagdesigner, it would hardly cost even 1/5 of a Chanel bag. Even if we were to use the best materials, craftmanship and give him a profit of 100%. What i often recognize is, even if it sounds stupid, the desire to own an expensive designer bag is rooted in the wish to belong to a certain community or social representation of "success". You pay A LOT for the context of the product, the dream that is created within this brands. If we are going for a deeper analysis of the whole context, we can see that luxurylovers are paying to own something that
a) isn't finiancially possible for the person with an average income, if they were not to save a lot (aspect of rarity) "not everbody will wear a chanel bag"
b) represents a lifestyle of wealth, beauty, status, success, the illusion of the BEST craftmanship, artisans, Sewers, materials, packaging, visual merchandising, media placement (Vogue, Elle, Harpers Bazar), pr, distribution, store location, Copywriting, Fashion shows, most famous/best paid models and the list goes on
c) is not an investment in the classical sence (only under very specific circumstances: no wear and tear, timeless model, continued success of the brand and ongoing price increases).
d) is just a material good that hasn't a wide spectrum of functions: from a usage-perspective, it's just supposed to hold your things.
And while i know all these "facts", there is still the bigger part of me that is still drawn to this world. Maybe it is also because for a short period of time, you can escape the true world and a own something desirable, no matter how pretty, talented, intelligent, lucky, social or whatever you feel.