Why Do People Spend So Much on Fake Stuff?

As more of our lives move online, the ability to own scarce digital items is only becoming more important, and the NFT-based digital asset market will increasingly mirror the luxury market. An authentic Birkin bag is able to fetch prices hundreds of times higher than the exact same bag in knock-off form because owning the real thing says something ... See more

The presence of many nice-enough choices without any meaningful way to distinguish among them is a fundamental dysphoria of modern consumerism. Anybody can track in intimate detail how the wealthy and stylish spend their money via social media, and just when you’ve learned exactly what you can’t have, the internet swoops in to offer a look-for-less... See more

Why does luxury brand Balenciaga sell a $2,000 purse modeled after a $1 blue Ikea shopping bag? What’s behind the craze for seemingly distressed and worn-out Gucci sneakers? What is Sarah Jessica Parker doing rummaging through the dusty clothes in Rome’s Via Sannio flea market? Why is Cracco, a Michelin star–winning Italian chef, using commercial p... See more

As traditional luxury goods, such as the iconic Louis Vuitton monogram bags or Chanel number 5, have become more widespread and attainable than in the past, the wealthy need alternative ways to signal their prestige and power.

RepLadies is a sub-Reddit dedicated to counterfeit luxury goods, and where a community of mostly millennial women gather to acquire them. Exquisite replicas of everything from designer shoes to Rimowa suitcases are available, but the bags are the real attraction. You can get just about anything in any color for one to 10 percent of the price of the... See more