Forbes magazine called it "the costliest handbag on the market." It may also be the most exclusive as well. Debuting in time for Christmas, the December launch of Chanel's new Diamond Forever tote will introduce the world's most pricy bag to date -- and the company only made 13 of them.
The diamond and (matte) alligator bags have the iconic Chanel logo clasps which are bejweled with 334 diamonds -- 3.56 carats, if you must know -- plunked into a solid 18-carat white gold bedding.
People want exclusivty, and they're willing to pay a mean dollar to get it.
"A handbag (such as) the Chanel Diamond Forever bag is more of a collector's item than something you use on a daily basis," said Meaghan Mahoney, editor of Purseblog.com. "Like an exquisite car or a rare painting, it's the limited availability and high demand that make this handbag more valuable."
World's Most Expensive Bag
1. Limited Edition Luxury - The high demand for exclusive and limited edition luxury items presents an opportunity for brands to create highly coveted and valuable products.
2. Experiential Luxury - Consumers are seeking unique and memorable luxury experiences, opening doors for brands to offer immersive and personalized encounters.
3. Collectible Fashion - The trend of treating fashion items as collectibles allows brands to create limited edition pieces that attract collectors and increase brand value.
1. Luxury Goods - The luxury goods industry can leverage limited edition offerings and experiential opportunities to cater to discerning customers and drive brand loyalty.
2. Fine Jewelry - Fine jewelry brands can explore the demand for limited edition luxury items by creating exquisite pieces that combine exclusivity and craftsmanship.
3. Art Auctions - Art auctions can expand their offerings to include collectible fashion items, tapping into the growing market of fashion collectors and art enthusiasts.