Mary Kate and Ashley Olsen for The Row: The $39,000 Crocodile Backpack

How much are you willing to spend on a handbag? A few months ago, we saw one-of-a-kind Ralph Lauren handbags fetch for $2,500 each. The Olsen twins’ glazed black crocodile backpack for The Row makes that pale in comparison. Sold for $35,000 to $39,000, this extreme luxury bag is in high demand at the moment.

Supposedly, ultra high-end luxury items sell well in hard times, which is why a fair amount of celebs have been spotted with Hermès bags recently. While Mary Kate and Ashley Olsen have been involved in fashion, both high and low, for quite some time, they wanted their own handbag collection to mirror the Hermès, Balenciaga, and Fendi bags they carry but with their own style.

The Olsen twins’ collection for The Row is now being sold at Barney’s, and the high-end department store’s professionals appear to be gushing all over it. Creative-Ambassador-at-Large Simon Doonan said at the launch of the collection:

“Bags had become quite unstructured—as a trend they got gi-normous. To have a bag with precision design that’s more considered and beautifully executed is exactly right for now. I spent part of the evening with the black crocodile backpack, and that was a good feeling.”

Meanwhile, Fashion Director Amanda Brooks gave Fashionista her opinion about the bag:

“I think if you were every going to spend $39,000 on a bag, that’s the bag you should buy because I think you’d wear it for a really long time. There’s enough design to make it interesting and beautiful but they truly are classic bags — and I think you also might be the only one who has it.”

Apparently, Barney’s does not carry Hermès in store, and The Row bag seems to fill that void. Brooks mentioned:

“Obviously we don’t carry Hermes bags in the store so we were trying to find something that appeals to that customer who is willing to spend a lot of money on a bag that’s going to last a long time and has a classic design.”

Should even those with money to spend throw it all on a $39,000 backpack? Or, is it better to put that money away toward college tuition and, instead, go with an inexpensive but still stylish handbag instead?