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What happenned to the world? Saw handbag $32,000

New Contributor

What happenned to the world? Saw handbag $32,000

so both myself and my spouse work hard and have had good jobs most of our lives. I went back to school and am a part-time professor. We had layoff, move across country, etc. and accrued some debt we are working on paying down. But what on earth!!? When I grew up in the 80's I don't remember this kind of insane wealth. I don't remember handbags being $32,000 (Gucci) and that's not even the most expensive ones! It bums me out that working hard and fairly decent jobs isn't getting it done. What does a person have to do? On a side note - Adjunct Professors don't even get benefits. At a certain point in life, it's harder to increase income. Am thinking of trying to take out a 2nd job do something to pay down our debt.
Message 1 of 26
25 REPLIES
Senior Contributor

Re: What happenned to the world? Saw handbag $32,000

I saw handbags for $5 at a mall a few months ago.  Never saw decent looking useful handbags for $5 ever before in my life!

 

Also can get meals for under $3 in a drive thru.  Haven't seen prices like that since the 80s.

 

The $32,000 hand bag might be made out of extremely high end skins and connectors and sold through boutiques that cost hundreds of thousands of dollars a year to staff and maintain.  I don't see any issue with $5 handbags or $32,000 handbags.

 

My watch cost me 5 figures (in the 90s!) and some friends of mine think it's a useless bauble, but it's opened doors to me at the marina and country club with other people who knew the make and model, so that 5 figure I blew probably paid me back 6 figures over the 20 years I've had the watch.

Message 2 of 26
Frequent Contributor

Re: What happenned to the world? Saw handbag $32,000

I don't have an issue with a $32k handbag or a $10k watch or a $100k car.  There's a market for those items and there are people who can easily afford it.   And I love looking at those items and admiring the beauty of them!  Doesn't at all make me want them or miserable because they are outside of my budget (or need).

 

BTW, this kind of wealth has existed since the beginning of time!  It's nothing new.  The difference from now and the 80's, in my opinion, is old money wasn't as flashy as today's new money.

FICO Score 8 as of 03/22/18
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Message 3 of 26
Senior Contributor

Re: What happenned to the world? Saw handbag $32,000


luxeprw9 wrote:

I don't have an issue with a $32k handbag or a $10k watch or a $100k car.  There's a market for those items and there are people who can easily afford it.   And I love looking at those items and admiring the beauty of them!  Doesn't at all make me want them or miserable because they are outside of my budget (or need).


I'm too cheap to afford cable TV (or a nice couch or TV lol) but I have no issue spending $6000 on cobbled shoes.  That's because I bought a pair of cobbled shoes when I was 17 (1991) that I still have today.  And they look amazing, and fit great and my back and knees never hurt even if I'm on my feet for 14 hours straight.

 

So it's definitely a YMMV situation.  Some luxury is just brand, sometimes it's about the cost of development or manufacturing.

 

I expect my watch to be passed down for many generations, too.  I recently did the 20 year tear down, clean and rebuild and the watch guy told me the watch is in stunning condition and he refunded me half the bill.  And it's 20 years old.

Message 4 of 26
New Contributor

Re: What happenned to the world? Saw handbag $32,000

I don't have an "issue" and I love the beauty of them as well. My only point is that $32,000 for a handbag or $100,00 for a handbag is not what I *remember.* (No, it's not some exotic bag but leather). Maybe my memory's faulty or maybe there was time where expensive was still within reach. The most I've spent on a handbag was in the $250 neighborhood which was a gift/special occassion. $32,000 handbag #goals lol That's nice on the watch!
Message 5 of 26
Senior Contributor

Re: What happenned to the world? Saw handbag $32,000

Don't forget that the politicians have destroyed the value of the dollar each and every year for over 40 years (or more).  So $32,000 today might be closer to $15,000 20 years ago and $1500 20 years before that.

 

I also remember Snickers bars for 25 cents, lol.  

Message 6 of 26
Frequent Contributor

Re: What happenned to the world? Saw handbag $32,000


ABCD2199 wrote:

luxeprw9 wrote:

I don't have an issue with a $32k handbag or a $10k watch or a $100k car.  There's a market for those items and there are people who can easily afford it.   And I love looking at those items and admiring the beauty of them!  Doesn't at all make me want them or miserable because they are outside of my budget (or need).


I'm too cheap to afford cable TV (or a nice couch or TV lol) but I have no issue spending $6000 on cobbled shoes.  That's because I bought a pair of cobbled shoes when I was 17 (1991) that I still have today.  And they look amazing, and fit great and my back and knees never hurt even if I'm on my feet for 14 hours straight.

 

So it's definitely a YMMV situation.  Some luxury is just brand, sometimes it's about the cost of development or manufacturing.

 

I expect my watch to be passed down for many generations, too.  I recently did the 20 year tear down, clean and rebuild and the watch guy told me the watch is in stunning condition and he refunded me half the bill.  And it's 20 years old.


Agreed.  I don't own anything insanely expensive, but I don't necessarily own anything utterly cheap either!  I just try to get the best deal on items that are within my means.  I've been lusting after a Rolex but just unable to pull the trigger (even on a pre-owned).  But I do love looking at them!  LOL!

FICO Score 8 as of 03/22/18
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Message 7 of 26
Regular Contributor

Re: What happenned to the world? Saw handbag $32,000

Some people just want to flaunt their money. If they can afford luxury items like that it's a drop in the bucket to them. It's about perspective. A $32,000 bag for one person might be luxury but to another person a $500 bag would be luxury. Something like that you'd never want out of your sight.

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Message 8 of 26
New Contributor

Re: What happenned to the world? Saw handbag $32,000


ABCD2199 wrote:

Don't forget that the politicians have destroyed the value of the dollar each and every year for over 40 years (or more).  So $32,000 today might be closer to $15,000 20 years ago and $1500 20 years before that.

 

I also remember Snickers bars for 25 cents, lol.  


Yes that's true. That must be it. Maybe I never payed attention but back in the day, in the 80's or 90's, I don't remember it that high. I remember it being in the $1-$2,000 range for expensive handbags. Maybe it *is* the fact the dollar's getting destroyed. Or people are just getting like way way richer. Or both!
Message 9 of 26
Established Contributor

Re: What happenned to the world? Saw handbag $32,000

I was born in the mid-80's and so I don't know what handbags cost then or now for that matter. But $32k for a handbag is ridiculous, unless you make $1mil per year. Why not? Status? Sure. 

 

I certainly don't have any $1k items that I wear, but I have spent $$ on shoes, not $6k shoes but hundreds of dollars for something that is comfortable and can be used for a decade or two.

 

My wife and I also have never paid for cable TV service in 11 years of marriage. As long as you're not putting that $32k handbag on a cc I wouldn't worry about it.

 

Robot Very Happy


Message 10 of 26