This Purse Sold for $203K

Recession is relative department: A Hermes handbag sold for a record $203,150 at auction in Dallas this week, reports the Houston Chronicle. The red alligator bag fetched way beyond expectations, helped along by the gold and diamonds embedded in its hardware. It's "an extraordinary example of one of the world’s most exceptional handbags," an official at Heritage Auctions tells Women's Wear Daily. The buyer remained anonymous, apparently not thrilled to be known as the person who shelled out 200 grand for a purse. (More Hermes stories.)