Wow! What a difference8 years makes!

[sophia618]

i just looked at my order history on eLux from Feb 2002...

Monogram Camvas Mini Looping
by Louis Vuitton

$430.00
Quantity: 1
Shipped
Item Total: $430.00

whoa!!!

 

[inlovewithvuitt]

Haha Pochette Accessories bag was only like SG$345 when I wanted it ( roughly that price) I think it costs like SG$500 now. ;/ Well well...

 

[jenniferelaine]

i just looked at my order history on eLux from Feb 2002...

Monogram Camvas Mini Looping
by Louis Vuitton

$430.00
Quantity: 1
Shipped
Item Total: $430.00

whoa!!!

I had a Mini Looping around 2002 too! I bet I only paid a little more than that, but at the time it seemed SO expensive!

 

[shesaiddestroy]

Wow a speedy 35 for $400, that would be 270 Euros now! Not fair!

 

[theglamorous]

Wow, the prices have gone up alot.

 

[Tasi]

Yikes! I was in college at that time and saved every penny I got from my part time teacher's assistant job at my University. So even those prices were too high for me!

 

[carvedwords]

Wow, I never knew the prices were that low. I'd have many bags by now if this was 2002.

 

[LVLOVER88]

Omg This Is Crazy

 

[MrsKewlKiwi]

I remember when the prices were what you have mentioned. Totally remember it, looking at the Looping GM and it was 570. I also remember buying my Speedy 30 at that price. Thanks for the flashback.

 

[pip_lv]

I bet in another 8 yrs people will be shocked at how cheap the current prices are I've always thought the keepall 45 was around £400 because I first saw it a few years ago and when I asked for it the other day I was shocked to see how pricy it is now.

 

[sxcruz22]

omfg i think i just died when i saw those prices. How did they jump so high compared to then.

 

[LaciGirl007]

Whoa, but my point was simply that all prices have risen out of control...not just LV handbags! My bread and gas statement indeed does support my point.

Yes, your bread and gas statement supports your point, but your "all prices have risen out of control" does not. Bread and gas are not representative of "all prices" (at least here in the U.S.) What is representative of "all prices" is the U.S.'s official Consumer Price Index (which is a combination of lots of goods).

I was just translating your "all prices have risen out of control" statement into actual statistics, as calculated by using the Consumer Price Index calculator provided by the Bureau of Labor Statistics (the link is in my previous post). According to that calculator, in the U.S. prices have gone up an average of 24% from 2001 to 2008. Plug in $380 for 2001, and the calculator shows you that $380 in 2001 has the same buying power as $471.97 in 2008. That's a 24% increase.

However, an LV Speedy has gone from $380 in 2001 to $700 in 2008. That's an 84% increase. So on average, in the U.S., LV prices have risen about THREE AND A HALF TIMES (84 / 24 = 3.5) the rate of inflation, i.e., 3 1/2 time as much as other prices (on average) have risen. So let's not fool ourselves that LVs price increases are just due to inflation. That's all I was pointing out.