When it comes to quality craftsmanship and one-of-a-kind design, luxury goods reign supreme. Luxury also usually means a price tag that has consumers digging deep into their wallets.
While some people will pay big bucks for the high-end name alone, designers and manufacturers say they have reasons for their hefty prices. The item may be handmade or a limited edition, or the design could include an expensive fabric or piece of jewelry.
Whatever the reason, some consumers don’t seem to mind. Luxury sales are on the rise worldwide. In fact, the demand for luxury goods has grown by double digits since the end of the financial crisis, according to Bain & Company. Retailers like Coach and Saks have seen their stocks soar over the past three years.
Here we take a look at some items that epitomize luxury — from six-figure cars to designer shoes going for thousands of dollars — and why they have those eye-popping price tags.
Click ahead to see the luxury goods that may make you salivate but hold tight to your wallet.
By Erica Emmich
Posted 28 February 2012