A $48,000 handbag not unheard of in luxury market
LONDON (AP) - A US$38,000 (S$48,000) handbag? For most people, it's unthinkable.
But for the richest sliver of the global population, like Oprah Winfrey, it's a realistic option - and buyers aren't short of choices.
In the upscale boutiques of Singapore, New York or Zurich - where Winfrey claims a sales clerk refused to show her a luxurious bag - purses priced in the four figures are common. In fact, they're so common that a higher level of extravagance exists to set the super-rich apart from the merely affluent.
A budget of about US$1,000 to US$2,000 will buy one of the cheaper bags by luxe labels such as Prada, Hermes, Fendi, Chanel or Louis Vuitton.