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You Can't Have Alexander Wang's $850 Bag, Even If You Can Afford It

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Alexander Wang's Rocco bag, an embossed-leather duffel with studs all over the bottom, just became "available" for purchase on his site... but it's already sold out.

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Barneys already has a waiting list of over 400 for the bag, and Wang says the company is going to have to produce more bags than originally planned just to make sure there's stock in-store.

If you're one of the 400 -- or a newly minted admirer -- set a notification to find out when it's back in stock at Net-a-Porter, where the bag is stealthily residing under the name Coco Mini studded leather bag" (which usually refers to the light blue version, but Net-a-Porter's is black).

All that aside, though -- and with the disclaimer that I do think this is a great bag -- isn't it still a little steep for a sold-out-before-it-hits-the-stores item? Or is this waitlist just a Barneys-patronizing micropopulation that's over the recession (if they were ever under it)?

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If you want your studded black leather duffel now, check out Tory Burch's Military Satchel ($475), which is about the same size as the Rocco, and will set you back less than $500. Or shop our guide to affordable handbags, all of which ring in at under $250.