Beenie-
I am lucky enough to have an extra bedroom in our home that my DH made into an amazing walkin closet.. I have a section just for bags.. Here are some pictures.
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I store the accessories in draws in the same closet..
unfortunately i don't own enough to have a storage problem but i keep mine in their dust bags in the original box stacked in my closet. I save little absorbants from the pharmacy pill bottles and toss them in to keep them fresh.
We had our closet done recently.
I keep my bags on the shelves, usually in their dustbag if they are out of rotation. And the wallets I keep in the drawers and some special stuff in the hutch cabinet on top.
I cleared 2 shelfs in my linen closet however I am running out of room so I came to this thread to get ideas. I might try a couple.