What's the Deal with the Olsens' $55,000 Backpack?

12/06/2012 at 06:00 PM ET

The Row Damien Hirst Backpack Courtesy Just One Eye; Inset: Sipa

We’re positive we weren’t the only ones whose jaws dropped when we read that Mary-Kate and Ashley Olsen‘s fashion line, The Row, is selling $55,000 backpacks.

But this isn’t exactly the Jansport you carried your Trapper Keepers in during elementary school. The extravagant accessory is designed in collaboration with renowned artist Damien Hirst and it’s been dubbed “wearable art.” The backpack is limited edition — as in, there are only 12 of these babies. Each bag features black patent, Nile crocodile leather and is adorned with various designs (like pills or gold circles) courtesy of Hirst.

Initially the price of the backpack was kept hush-hush and The Row declined to release that info. But when we called Just One Eye (the site selling the creations), they shared with PEOPLE.com the five-figure price tag.

But before you go thinking that absolutely no one is going to drop $55,000 on a backpack, consider this: The Olsens released a similar a purse for $39,000 earlier this year — and it sold out. Tell us: If you had all the money in the world, would you buy this backpack? If not, how much would you pay for it?

–Jennifer Cress

PHOTOS: SHOP STAR STYLE — FOR LESS!

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Showing 79 comments

Joanne on

Waste of money

little Tx on

OK he’s my thought. I love the twins but….. this is silly! People that will spend this much on a backpack have more $$$ than brains. Just sayin

Karin on

Pills????? Really!

Bellaboo on

Is this some sort of therapeutic art project for Mary-Kate? This is all sorts of tacky after what happened to her really good “friend” Heath Ledger. Not cool at all.

sylvia on

Absolutely not! There is a man near San Francisco that makes leather bags that are so gorgeous. And that is where I buy my bags. Anyone who has the kind of money that can spend $55,000 on a bag should donate an equal amount to a charity.

Jess on

Ewwww. Just what they would create. . . A creation that demonstrates their addiction

guest on

There is only one word to describe this-RIDICULOUS!

tatianafromitaly on

Horrible and vulgar price, the backpack is in dubiously good taste …Perhaps a few “noveaux riche” will buy it otherwise, I will stick to my Birkin from HERMES…

Kathyanna on

This is seriously ridiculous! 55,000 for a backpack with pills?! No thank you! It would be worth it if they would donate 1/2 of the profit to some type of charity or something…

AJ on

I actually think those look kinda cheap.

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