$39,000 for a backpack... worth it?

Mary Kate and Ashley Olsen have come out with a new alligator skin backpack under their fashion label The Row. It seems like a fairly standard bag until you see the price tag... $39,000.

Now, I understand status symbols. I understand why a few people (with too much money) would buy a product like this. But what's amazing is that they're selling out. They had pre-orders before they were even on sale, all stock has sold off the shelves and now they're struggling to meet demand. Whether it's because the Olsen Twins are behind it, or whether it's because its a very exclusive fashion item, being able to price a backpack at a level close to the average yearly salary just goes to show the power of branding.

But what about you? If you had a spare $39,000 sitting in the bank, would you contemplate spending it on a backpack?