In other pricey bags news, this is the newest & VERY exclusive Louis Vuitton Tribute Patchwork handbag, one of only 24 in the world and 5 in North America. We hear (tacky) Beyonce already has one. The first Tribute Patchwork was out in March 2007, and since then it's been making quite a (bad) name for itself. As one of the most expensive handbags in the world, the Tribute Patchwork has become this summer's ultimate fashion-victim status bag. Priced at US$52,500, or the price of a two-bedroom condo in Copacabana, it's made from choice parts of 14 other Louis Vuitton bags. It easily overshadows the competition... Ugly? No, FUGLY!