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."