[paxys]

The moment you add an aspect of culture and social pressure all economics goes out of the window. The bags cost $450 because it is the expectation that grandparents will buy an expensive school bag for their grandkids, that's it. Everything else ("it's handcrafted!", "it has 200 parts!", "it's durable") is reverse justification from there.

It's the same as trying to figure out why a tiny piece of abundant rock costs thousands of dollars when sold as an "engagement ring".

[hn_throwaway_99]

> Everything else ("it's handcrafted!", "it's durable!") is a reverse justification from there.

Thanks for this, exactly. It's the same thing with designer bags. After the rise of "superfake" luxury bags that cost literally a tenth of the real thing, I remember reading some blogs trying to argue why people should buy authentic, basing it on BS "handcrafted quality!" reasons (the reason they were called "superfakes" in the first place is because the quality was basically as good as the original). Sure, some of the reasons were actually true (it does cost a lot more to pay workers in France compared to China), but any rationale besides "I want other people to know I spent a lot of money on a bag" is just post hoc rationalization.

[selcuka]

> Sure, some of the reasons were actually true (it does cost a lot more to pay workers in France compared to China)

Even that, is not a problem that the consumer has to solve if the superfakes can attain the same quality using cheaper labour. In that case supporting local jobs could be a justification, not quality (again, assuming that the quality is the same).

[MichaelZuo]

Or better yet something without any fake logos whatsoever that is even higher quality than the 'real' thing.

e.g. Even Louis Vuitton for their most expensive bags doesn't use the absolute highest quality leather, so there's room for improvement.

[eru]

> Sure, some of the reasons were actually true (it does cost a lot more to pay workers in France compared to China), [...]

Though that's mostly a rational for why the 'real' bag does costs more, not a rationale for why you should prefer it. 'Is' vs 'ought' distinction.

[nostromo]

Economists call these Veblen goods. The high price is the point and counter-intuitively increase demand since the goal is to display wealth.

https://en.wikipedia.org/wiki/Veblen_good

[GuB-42]

It is actually cheaper than many luxury handbags that are not handcrafted, have less parts, and are less durable.

So yes, it is expensive because of tradition, but it is also a well made, practical item.

[puppymaster]

> The moment you add an aspect of culture and social pressure... yep I personally think gender reveal, 21st birthday all out party and easter egg are senseless but here we are

[2muchcoffeeman]

This is a bad analogy. Watch the video in the linked article.

Then go and look at the prices of some luxury brands. These bags are cheap by comparison.

I’m not going to try and justify the manufacturing process, but this could be the price of manufacturing something locally and not in a sweat shop.

[xboxnolifes]

The cost to make might justify the price, but does the price justify the value add?