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

Super Contributor

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


gettinto800 wrote:
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.

All in perspective ... much older than anyone in this post and the ups and downs of life can change what we look at for a time and maybe even how we look at something. Your change in financial circumstances certainly has given you a different perspective (been there so I have a sense for it). Also, Adjunt Professors do not have any guarantees for jobs so the only thing you are sure of is today. One may find living in their means of today opens the powers of observation too. When you are able to settle down and bring stability back to your life a new perspective may be yours as is your views on community, job, family and the like. A second job may help you over come the debt so you can breath again and feel more free. Wish you the best as I have walked the walk and it is not easy.

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Message 11 of 26
Valued Contributor

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

When a bag costs $32k, hardly anyone can afford it.

 

For some consumers, that adds to an item's appeal.

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Message 12 of 26
New Contributor

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


Dinosaur wrote:

gettinto800 wrote:
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.

All in perspective ... much older than anyone in this post and the ups and downs of life can change what we look at for a time and maybe even how we look at something. Your change in financial circumstances certainly has given you a different perspective (been there so I have a sense for it). Also, Adjunt Professors do not have any guarantees for jobs so the only thing you are sure of is today. One may find living in their means of today opens the powers of observation too. When you are able to settle down and bring stability back to your life a new perspective may be yours as is your views on community, job, family and the like. A second job may help you over come the debt so you can breath again and feel more free. Wish you the best as I have walked the walk and it is not easy.


Thank you for your nice words. We moved back home, are helping family members, one family member had health issues etc. so it's good to be home after being gone 15 years. Even if it wasn't 100% our choice but we escaped crazy expensive California (where I'd see Phantom Rolls on a daily basis) and I'm glad we did. I'm grateful for our jobs. I'm actually really glad to have made the move now I just have to figure out how to readjust and thrive. I have a creative background so have zero understanding of finances and this board has helped me a lot. When my spouse works, it was left up to me to figure a lot of it out. This board helped me get approved for a mortgage so I'm grateful. Now I need to not panic and just manage this debt. I am also applying for a second job and got another teaching assignment! So that made me feel better. I might actually go research designer handbag costs in the 80s LOL. I just feel like it's hyper inflation or something but I don't know. Best of luck to you too!
Message 13 of 26
Valued Contributor

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


gettinto800 wrote:


Thank you for your nice words. We moved back home, are helping family members, one family member had health issues etc. so it's good to be home after being gone 15 years. Even if it wasn't 100% our choice but we escaped crazy expensive California (where I'd see Phantom Rolls on a daily basis) and I'm glad we did. I'm grateful for our jobs. I'm actually really glad to have made the move now I just have to figure out how to readjust and thrive. I have a creative background so have zero understanding of finances and this board has helped me a lot. When my spouse works, it was left up to me to figure a lot of it out. This board helped me get approved for a mortgage so I'm grateful. Now I need to not panic and just manage this debt. I am also applying for a second job and got another teaching assignment! So that made me feel better. I might actually go research designer handbag costs in the 80s LOL. I just feel like it's hyper inflation or something but I don't know. Best of luck to you too!

Research Veblen goods, too.

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Message 14 of 26
New Contributor

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

I am a personal assistant to several "Lifestyles of the rich, but not so famous" families.

Amazingly they live very frugal, even though they don't have to.

Many of the people that buy these expensive goods are in credit debt up to their ears.

Goods will cost what the market allows.  If people didn't buy these things, the price would be much lower.

Look at the first family paying $50K for a jacket, carrying $18K purses, while sporting $800 shoes.

That speaks volumes


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Message 15 of 26
Established Contributor

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

I am a cheap person.

 

I have dreamed of one day owning an exotic Hermes Birkin if and when I finally make it in life. Although I would most likely lock the item up in a safe and buy insurance for its full value.

 

Some people actually buy items like this for investment because the prices will always go up and up it is interesting.

 

I did buy a $180 card case a couple years ago (Used my Debit card, payed a foreign transaction fee and everything) it now sits in its dust bag in interesting news the same card case goes for $250 now so if I wanted to sell it I would break even or perhaps make a little extra on the investment.

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Message 16 of 26
Valued Contributor

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

It all depends on who you want to impress.  I have two suits to my name both Brooks Brothers. Dw has 3 suits of similar quality. DW and mine dress watch Rolex Midsize. My wing tip have leather soles. All are anceint but they look new.  You will probably   catch us in a suit all dressed out for the two big trade shows a year and one or two other times per year. The rest of the time Old Navy.  DW has 3 LV purses that she had for  atleast 10 years and uses daily.  I have a timex that looks like my Rolex.  Our good clothes will last forever 

 

Given our line of work our dress clothes add credibility to our business. More than once people have noticed and remaked about my suit. 

Message 17 of 26
Valued Contributor

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

I spent somewhere in the neighborhood of $3,200 for two pieces of Serapian luggage, but I expect it to last a lifetime. It’s my road trip luggage, and will never see an airplane cargo hold, shuttle bus, or taxi trunk. 

 

I’ve also spent hundreds on Coach and a Tumi bags, but always buy those on sale, and never in that tacky Coach monogram pattern that everyone assumes is fake. 




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Message 18 of 26
Established 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).

 

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.


The problem with these luxury items is that for every person who buys them who can easily afford it, there’s 50 people who buy them who can’t easily afford it. Marketing has subverted a lot of society into thinking those things somehow convey wealth or status, and it’s become a self-fulfilling prophecy as many now do associate those things (incorrectly) as evidence of wealth or status.

 

In many cases where we think we see wealth, it is in fact an illusion of wealth that is being portrayed. That 20-something driving an M3 is 50x more likely to be in debt up to his eyeballs as he is to actually be half as wealthy as he acts. Same for the handbags and watches. More often than not, when we think we’re seeing flashy new money, we’re seeing flashy wannabe money instead.

Message 19 of 26
Established Contributor

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

There’s a demand for it, and the market provides. 😌 I❤️Capitalism 

Message 20 of 26