What cost-of-living crisis? Australians splashing the cash on luxury bags, health clubs and art

, one of the world’s most expensive luxury brands, and sits on the counter, elaborately embossed logo on the outside. Inside is a handbag made of alligator skin and tanned green. It’s secondhand but comes with a $85,000 price tag. You could fit a phone in it and not much more.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup The art market is also buoyant – with total sales at auction houses hitting $140m by the time the last gavel came down in 2023. Partner and managing director of Michael Reid Galleries, Toby Meagher, says while Covid-lockdown customers have dropped off, the premier price range is booming.

He says one of Chanel’s small classic flaps has gone up from $8,000 to $16,000 in a a few years. It’s part of creating the exclusive allure.Our Australian afternoon update breaks down the key stories of the day, telling you what’s happening and why it mattersBags can be a very good investment. They hold their value. The right one will appreciate as soon as you walk out of the store.Chanel’s Diana flap bag.

Health Health Latest News, Health Health Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

When could Australians have access to a new COVID-19 vaccine?Global health authorities have recommended that COVID-19 vaccine manufacturers update their jabs to target the JN.1 variant. Here's when a new booster could arrive in Australia.
Source: SBSNews - 🏆 3. / 89 Read more »

The push for a new COVID vaccine — and when Australians could get itGlobal health authorities have recommended that COVID-19 vaccine manufacturers update their jabs to target the JN.1 variant. Here's when a new booster could arrive in Australia.
Source: SBSNews - 🏆 3. / 89 Read more »