Ack, Which One Should I Accept?

I agree that it is only fair to give the first offer first dibs on the bag. Sending her an email explaining the situation is not a bad idea, see how fast she will pay. Then I would send the second offer (after payment has been received) and email telling her that she was an hour late but if things don't work out with the first bidder that you would love to continue the transaction with her. Good luck.
 
Ok guys, well I accepted the second offer. I emailed the first buyer, and gave her about 30 hours and didn't hear anything back from her. i explained that I had another offer for the same amount and just wanted to assure myself she would pay in a timely manner, I was real nice and told her since she was first I felt she should get first dibs... At the same time, I also emailed the second buyer, and told her the first offer was the same, and if I didn't hear anything back, I would accept her offer.... she was very understanding! She paid the same day I accepted and her bag is now in the mail!!

Thanks for all your advice ladies!!