Simply referred to as 'The Hat,' the $100,000 Montecristi hat was woven in Ecuador out of fine toquilla straw.
A lot of time goes into each piece too. Apparently, once the hat is hand woven, several weeks are necessary to prepare and finish the hats.
The gallery available details some of the fine craftsmanship that goes into the production of these Montecristi Panama hats.
Implications - While opulence was once something that companies were weary of embracing due to times of economic uncertainty, these such times are coming to a close and consumers are yearning to spend their savings once again. Products that allow consumers to spend their money while experiencing prestige will once again grow in popularity.