When I sent a link to the bag pictured above to Amanda, she asked me, “Do rich people come home blitzed on Dom Pérignon from a night out at Le Cirque and impulse-buy ugly, overpriced gold and diamond handbags like the rest of us buy sunglasses on eBay?” I wondered the same thing when I laid eyes on this Roberto Coin Gold and Diamond bag. I’ll get to the design of it in a bit, but for starters, who literally goes online and spends just under $100,000 on one item. Do people do that? I understand it is all relative, but at that rate you could practically start buying houses with a few clicks of a mouse and stroke or two of the keyboard. This clutch strikes me as a strictly in-person splurge.

Money aside, let’s talk about the bag itself. Roberto Coin is well known for its high-end jewelery, but this bag is utterly boring and, when you consider the price, actually a bit atrocious. What you get for $100k is a gold and diamond bracelet attached to a gaudy gold leather clutch. Is that the best we can do?

I have no doubt the bracelet attachment is lovely. But no matter how much I love a good handbag, I doubt I’d ever opt for 18kt gold. To make matters worse, Roberto Coin made sure to splash its gaudy, diamond-encrusted initials front and center so that all your friends can judge you for how much money you wasted. Pretty much, this ridiculous evening bag is a waste of good leather, gold and diamonds. More info via Roberto Coin.

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