Mary-Kate and Ashley Olsen are expanding their empire, one $39,000 backpack at a time. The alligator-skin backpack pictured above is part of the Olsen twins' new handbag collection and quite literally costs as much as a very nice car. The crazy thing is, there are people out there who are actually buying this thing!

During a cocktail party at Paris Fashion Week, Ashley Olsen revealed that the bag was flying off the shelves, saying "It was the first thing that sold off the shelf. During our last economic crisis in the U.S., the only thing that went up was Hermes." (source)

What do you think about spending $39,000 on a bag? What is the most you would spend on a frivolous purchase like this?