"It's not just the luxury stores. Judging from these auction results, the economic contraction is hitting the market for vintage fashion, including such supposedly sure investments as Hermès bags. This wine-red crocodile Kelly bag from 1990 was expected to go for £8,000 - £12,000. It sold for £4,000, with a single bid. Surely the much less classic It bags of recent years will find their prices crashing even further." (Don't ask why I was surfing on www.DeepGlamour.net at 2am....)

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