thanks for your replies everyone. guess i just havent been around people that can spend 40K on a handbag! maybe one day
of course i would spend $2k on art! some art takes a lot of skill and talent and i think artists should be rewarded for it. i suppose its the same with clothing.
as a comparison though, magazines always make a big deal of a celebrity spending 10K on a dress - but in the same vein they advertise similar caliber dresses in their pages like it's the normal order of things.
i also buy most of my clothes second hand but i have to say that it sometmes leads to disappointment because they don't always fit right, and i have to make many compromises. but it's a lot cheaper in the long term. except that i find that when i buy something new, i love it much better and it's more of a pleasure to wear it because i put a lot of thought into the purchase and made sure that it looked great on me first. so i would say that i only buy second hand stuff as a necessity when i dont have much spare cash.