On one hand if you actually read the article this number is already misleading because they didn’t even bother to include the price with materials, which are leather (and assuming high quality leather at that), which probably drives that number up a bit although nowhere near the final cost.
On the other hand, duh, this is how commerce works? I make something (or buy it from someone who can make it in high volumes) and then sell it at higher price than I sold it for. I guess it’s just the commentary that there are people out there with enough disposable income to spend 3 grand on a bag? That is ridiculous for sure but it’s nothing new, been around for decades
It’s impossible to pay a living wage to all the workers involved for $60. That and the horrid working conditions mean that these “luxury” bags are the same sweatshop fast fashion bs as everything else, without any of the cheapness. We don’t have to accept something just because it’s normal.
I used to work for a luxury brand in one of their “unnamed” locations in Eastern Europe. A pair of shoes would cost around 50€ to produce. We would then ship them to Italy, they would add the insole and laces, label them as “made in Italy” and sell them for 1k€+…
something has value because it is sold for a lot? Seems weird. If I sell a turd for 2700$ the turd has “value”. At what point did it get that value? when someone buy it, or the moment I put it on the shelf on my shop?
I mean, I’m definitely not defending this massively overpriced bag, but an artist can spend less than a hundred on materials to make a piece of art, and it sells for millions
The value of the materials and even the labour that goes into making it are not the only things that determine the value of luxury items, value is heavily determined by scarcity in one way or another.
For the piece of art, this is actual scarcity, there may only be one. For the bag, the scarcity is somewhat crazily generated by the RRP meaning many won’t buy it and therefore creating the scarcity to justify the value.
It’s kinda a microcosm of capitalism, where value is created by the perception of value.
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On one hand if you actually read the article this number is already misleading because they didn’t even bother to include the price with materials, which are leather (and assuming high quality leather at that), which probably drives that number up a bit although nowhere near the final cost.
On the other hand, duh, this is how commerce works? I make something (or buy it from someone who can make it in high volumes) and then sell it at higher price than I sold it for. I guess it’s just the commentary that there are people out there with enough disposable income to spend 3 grand on a bag? That is ridiculous for sure but it’s nothing new, been around for decades
It’s impossible to pay a living wage to all the workers involved for $60. That and the horrid working conditions mean that these “luxury” bags are the same sweatshop fast fashion bs as everything else, without any of the cheapness. We don’t have to accept something just because it’s normal.
A what bag? I thought this was medical stuff before seeing the thumbnail.
I used to work for a luxury brand in one of their “unnamed” locations in Eastern Europe. A pair of shoes would cost around 50€ to produce. We would then ship them to Italy, they would add the insole and laces, label them as “made in Italy” and sell them for 1k€+…
What brand?
Me Shoesy!
LV
That is a lot to make a handbag, ten or twenty times more than a lot of them.
They have invested a lot in branding, now they got to claim it back.
Moreover, a high retail price make that bag valuable.
something has value because it is sold for a lot? Seems weird. If I sell a turd for 2700$ the turd has “value”. At what point did it get that value? when someone buy it, or the moment I put it on the shelf on my shop?
I mean, I’m definitely not defending this massively overpriced bag, but an artist can spend less than a hundred on materials to make a piece of art, and it sells for millions
The value of the materials and even the labour that goes into making it are not the only things that determine the value of luxury items, value is heavily determined by scarcity in one way or another.
For the piece of art, this is actual scarcity, there may only be one. For the bag, the scarcity is somewhat crazily generated by the RRP meaning many won’t buy it and therefore creating the scarcity to justify the value.
It’s kinda a microcosm of capitalism, where value is created by the perception of value.