Wow...I certainly wouldn't use it all for bags although it would be mighty tempting. I would take maybe $5,000 and go directly to Chanel for something classic and timeless...would use the rest for my kids tuition...for less than one year.
I'd seek out a pursemaker or a leathersmith and have him create a one-of-a-kind masterpiece for me--so that I will never see anyone else with the same bag!
The first place I would go is the Nordstrom at Valley Fair, because they have the best Chloe collection. After I scooped up all the Chloe bags I wanted, I don't know what my next bags would be.
I always presume these things go like this: If someone gave you $50,000 and you could only spend it on handbags, what would you buy?" Otherwise, I'd spend it on a car.
I'd buy a Balenciaga Vert Gazon GH Day and a Balenciaga Sandstone Giant City...I'd then top up my Chanel makeup, buy a new pair of Asics Keyano's and donate the rest of the money to the Animals Asia Moon Bear Rescue effort www.animalsasia.org
YAY!