Let's Talk About the Price of Bags Across the Board, Are they Crazy or am I?
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The prices are ridiculous (though of course I still buy). I hate when people refer to handbags as an investment. I’m not going to buy a used handbag for more than what its retail value was at the time it was sold.
Gucci Med Dionysus in purple python went up from £2.4K to £3.04K overnight.
That's a 27% increase in one day.
That's a 27% increase in one day.
Holy crap that's some increase! I was already not impressed with the recent LV raise, let alone Chanel. I'll just stay with contemporary brands for the most part...
These companies are raising their prices because they can. Buyers are younger. I'm flabbergasted at the "starter homes" that many newlyweds buy. I think people, especially younger people, are more comfortable having debt. Even exorbitant debt.
There was a time when most people scrimped and very seldom splurged on anything until they owed nothing. Young people bought small houses, or bungalows. And drove cheap cars. They moved up only when their lots in life improved greatly. Now it isn't at all unusual to see younger people buying luxury cars and homes in affluent neighborhoods.
So maybe when you've got $500,000+ in debt between student loans, a home, etc, what's another 5K on a bag? Or 20K on vacations, eating out, etc? I'd be mortified to go to an expensive restaurant if I had any debt, but it doesn't bother a lot of people.
On the flip side, I observe the audiences at the Paris, Milan, and London fashion shows. There are many young wealthy people alongside the Old Guard.
If you travel to Honolulu you'll find thousands of Asians actively buying, not window shopping, designer goods. When you go to luxury resorts, you'll find a lot of people under 45 or 40.
Once people buy a luxury car, they don't often "step down" on subsequent car purchases. So a bag isn't seen as huge a jump. Prices of nice watches have jumped a lot as well.
I also think the ability to buy a lot of nice bags online makes a difference, too. As for me, I'm getting much more selective on what I buy, and I'll make one large purchase instead of multiple smaller ones.
There was a time when most people scrimped and very seldom splurged on anything until they owed nothing. Young people bought small houses, or bungalows. And drove cheap cars. They moved up only when their lots in life improved greatly. Now it isn't at all unusual to see younger people buying luxury cars and homes in affluent neighborhoods.
So maybe when you've got $500,000+ in debt between student loans, a home, etc, what's another 5K on a bag? Or 20K on vacations, eating out, etc? I'd be mortified to go to an expensive restaurant if I had any debt, but it doesn't bother a lot of people.
On the flip side, I observe the audiences at the Paris, Milan, and London fashion shows. There are many young wealthy people alongside the Old Guard.
If you travel to Honolulu you'll find thousands of Asians actively buying, not window shopping, designer goods. When you go to luxury resorts, you'll find a lot of people under 45 or 40.
Once people buy a luxury car, they don't often "step down" on subsequent car purchases. So a bag isn't seen as huge a jump. Prices of nice watches have jumped a lot as well.
I also think the ability to buy a lot of nice bags online makes a difference, too. As for me, I'm getting much more selective on what I buy, and I'll make one large purchase instead of multiple smaller ones.
I'm a guy, and don't carry handbags, manbags, satchels, etc (no judging, just stating for myself). Only on interviews and work do I have a leather messenger bag. Personally I wouldn't spend that kind of money on accessories. I would much rather use the money on vacations, house or car payments, charity etc. (Again not judging those that do spend thousands on those bags). Most I would spend on leather goods (wallets, messenger bags, etc.), would be in the mid hundreds. Anything more no way. These companies are all becoming monopolies with their decreasing and inferior quality/choices but increasing their prices.
But are the popular styles really out of stock, or is that just another way to toy with buyers? If an item always appears to be out of stock it frustrates a buyer, so if it pops up as in stock one random day, or if a salesperson calls and says 'I have just ONE for you if you rush down,' they think they have hit an elusive jackpot and buy. Games, I say.
It saddens me how much debt younger generations are starting off with these days. I've never spent close to 1% of my savings on a bag, but I guess that's easier to say when my student loans were tiny compared to what is now the norm.
I also think people are buying more into the narrative that a handbag is an investment. Not necessarily that they can sell for more than they bought, but that it's worth spending a lot on because classic handbag will remain in style for much longer than clothing and doesn't wear as much as shoes. When I was younger, most people I knew bought their handbags where they bought their clothes, or they might go to a leather specialty store like Coach. Now it's much more common to spend significantly more on a handbag than other goods. I see so many people with LV or Chanel who buy their clothes from Target or H&M. I'm not saying it's bad, just that consumers are willing to have a huge disparity in spending for handbags. There have been a million "how to dress" articles that emphasize the importance of a proper handbag for women and a watch for men.
I totally agree; it always boggles my mind to see people asking for which premier designer bag to carry in school. Recently, I just became a teacher, so I don't consider myself that old; when I went to college ten years ago, most students just carried backpacks! Seems like the younger generation is now starting with a lot more debt, and have different prerogatives on spending than the older folks.
It's all thanks to my father's hard work and generous support, that I can enter the workforce with no debt; I shudder to think about student-loan payments in my field like the humanities! For my job in the higher ed, a terminal degree is also required; it's really sad that most doctorates find themselves swamped with debt before they even enter the market...
I have carefuully considered some of the lovely premier brands out there, but I’ve never been able to pull the trigger on a $3k bag. I do have two LV NF’s, and while they’re an entry level bag, they’re about the top of my price point. Even then, I bought a couple of less costly totes but when they didn't scratch the itch I decided to bite the bullet and buy the real thing. I’m glad I did; they’re workhouse totes I expect to get many years out of.
When it comes to handbags though, I prefer leather. I considered the Celine Micro Belt and decided that I just didn’t want to spend that much. So I found a small French designer and bought a Polene Numero Un instead. I like the Epi Neonoe, but couldn’t get comfortable with the price. So I decided to take a chance on an online designer and bought a Leo & Violette La Violette bag. Both are casual bags; I love both bags but they’re just for fun. They aren’t part of my professional wardrobe. A few hundred is a lot more comfortable for me than a few thousand. My husband and I can go away for a week on the price difference.
Spending $6k on a couple of bags would make me feel foolish and guilty, not good. Everyone’s psychological ceiling is different, but the value just isn’t there for me. I’d rather spend the money travelling.
When it comes to handbags though, I prefer leather. I considered the Celine Micro Belt and decided that I just didn’t want to spend that much. So I found a small French designer and bought a Polene Numero Un instead. I like the Epi Neonoe, but couldn’t get comfortable with the price. So I decided to take a chance on an online designer and bought a Leo & Violette La Violette bag. Both are casual bags; I love both bags but they’re just for fun. They aren’t part of my professional wardrobe. A few hundred is a lot more comfortable for me than a few thousand. My husband and I can go away for a week on the price difference.
Spending $6k on a couple of bags would make me feel foolish and guilty, not good. Everyone’s psychological ceiling is different, but the value just isn’t there for me. I’d rather spend the money travelling.
To me when it comes to anything, if I really love it, and I can justify the price, I'll go for it. Sometimes I have to pay the markup on eBay or Fashionphile or Poshmark for certain limited edition items, but because I truly LOVE it, I don't mind.
Now the price of some brands to me are out of this world ridiculous (*cough* CHANEL *cough*). The constant price increases have priced me out altogether. I would love to have one, but I can't justify spending that much on a tiny bag. If I make $200,000 a year, maybe it would be an easier decision for me. But as of right now I'll fancy buying myself a piece or two from LV once in a while. It all boils down to how affordable something is for a person at a certain point in their life. In high school, I would DREAM about LV thinking omg it's sooooo expensive, I'll never be able to afford one. But now with a little bit of saving on the side, an LV bag is attainable.
Now the price of some brands to me are out of this world ridiculous (*cough* CHANEL *cough*). The constant price increases have priced me out altogether. I would love to have one, but I can't justify spending that much on a tiny bag. If I make $200,000 a year, maybe it would be an easier decision for me. But as of right now I'll fancy buying myself a piece or two from LV once in a while. It all boils down to how affordable something is for a person at a certain point in their life. In high school, I would DREAM about LV thinking omg it's sooooo expensive, I'll never be able to afford one. But now with a little bit of saving on the side, an LV bag is attainable.
My two cents if I may? For many years I kept my purchases below a certain limit, and if you’re a savvy shopper you can find authentic, quality high end items within your budget. I’ve personally bought several LV and Hermes pieces for less than $2000. Including a Kelly, a Birkin mislabeled as a replica (authenticated and snatched) Bolide...all for less than 2k. It is possible to get what you want within a budget, especially if you take the time to look. I will admit to paying Hermes retail for my holy grail piece, because it didn’t make sense to pay a huge premium on the resale market.
Prices for some items are outrageous, but so is our luxury obsessed society. As for quality, my Hermes items take a licking and keep on ticking, and with the perk of spa, they’ll last for decades ! I’ve watched LV decline in terms of quality to the point where I (and I truly mean no offense, and I’m not throwing LV owners shade here, I promise) found Walmart or Kmart bags to have nearly the same quality and construction at a fraction of the cost!
Other then labor costs, materials haven’t risen that much, as a matter of fact in many markets the price of materials plus shipping have declined due to lower overall fuel costs and the move to source more local materials. Many brands are cutting corners and raising prices, but our society keeps buying to keep up with the Jones’ (and the nouveau celebrities on social media).
At the end of the day, we as the consumers of these gorgeous and must have items are the crazy ones, the manufacturer is just the dealer giving us our fix.
Prices for some items are outrageous, but so is our luxury obsessed society. As for quality, my Hermes items take a licking and keep on ticking, and with the perk of spa, they’ll last for decades ! I’ve watched LV decline in terms of quality to the point where I (and I truly mean no offense, and I’m not throwing LV owners shade here, I promise) found Walmart or Kmart bags to have nearly the same quality and construction at a fraction of the cost!
Other then labor costs, materials haven’t risen that much, as a matter of fact in many markets the price of materials plus shipping have declined due to lower overall fuel costs and the move to source more local materials. Many brands are cutting corners and raising prices, but our society keeps buying to keep up with the Jones’ (and the nouveau celebrities on social media).
At the end of the day, we as the consumers of these gorgeous and must have items are the crazy ones, the manufacturer is just the dealer giving us our fix.
I just agree that the big brands are over doing things on their prices and often do not even deliver quality, I have been going for some up coming ones for the last 3 to 4 years, there are some nice french ones like Moreau and Delage. In addition they really have their bags made in europe.
So after almost 4 years in between brand new LV bags, they delivered my new bag without the accompanying removable shoulder strap. I now have to return the bag on them & exchange it hoping the next one has the strap lol. I just have to laugh... even though it’s sad no one is carefully checking these things before they ship at these prices. This is my 1st problem with them. I’m hopeful the next shipment will be right. After this I’ll be off the luxury purse wagon for another few years... and who knows what prices will look like then!
Well I guess this article tells us everything we need to know about faking the funk for IG.
A 26-year-old woman has racked up $10,000 of debt after trying to become an 'Instagram star'
Link here: http://www.businessinsider.com/26-y...ter-trying-to-become-an-instagram-star-2018-3
A 26-year-old woman has racked up $10,000 of debt after trying to become an 'Instagram star'
Link here: http://www.businessinsider.com/26-y...ter-trying-to-become-an-instagram-star-2018-3