Friday, 3rd August 2007 (3970 views)

Demand for top-end handbags has risen dramatically in recent times, it has been claimed.

According to Forbes, online retailer eluxury.com reported sales of luxury handbags – classed as handbags costing $500 or more – as increasing by 11 per cent in the last year.

Forbes notes that Chanel's Diamond Forever tote is likely to sell well this December, describing the bag as a "stepped-up" model of Chanel's shoulder bag with the letter "Cs" encrusted in 334 diamonds and set in 18-carat white gold.

"A handbag [such as] the Chanel Diamond Forever bag is more of a collector's item than something you use on a daily basis, like an exquisite car or a rare painting, it's the limited availability and high demand that make this handbag more valuable," Pamela Danziger, founder of luxury goods research company Unity Marketing told Forbes.

Other such luxury bags featuring gold include Hermes' Crocodile Birkin worth $120,000 (£60,000) which features ten carats of diamonds set in white gold, the Leiber Precious Rose bag, which incorporates 1,016 diamonds, 1,169 pink sapphires and 800 pink tourmalines set in 18-carat white gold.

In related news, Harvey Nichols in Manchester's Exchange Square is currently exhibiting works of modern art including a moulded transparent handbag with a gold plated gun inside.

 

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