Louis Vuitton Introduces Bag With $52K Price Tag

Louis Vuitton Introduces Bag With $52K Price Tag

Just when you think conspicuous consumption has reached its peak, the luxury world comes out with yet another bauble that challenges all reason and previous price records.

The latest is the Tribute Patchwork handbag from Louis Vuitton. Price: $52,500.

First off, I've never quite understood what makes a handbag worth $1,000 -- let alone $52,500. I recently sat next to a woman on a plane who admitted that she had collected more than 300 handbags. They were all stored in hermetically sealed containers in a special room in her house. She used some of them them as actual handbags, but mostly she said "I just like to have them and look at them."

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