You've probably seen an image much like the one above on a whole lot of fashion blogs by now, haven't you?
The story is a simple one: J Crew make an awesome, polka dot cashmere sweater. But it's cashmere, and, well, it's J Crew (which is charging the same prices as some designer brands we could mention these days...), so it's pretty expensive: $268, to be precise. Ouch.
Enter Old Navy. They make their own dupe of the coveted polka dot sweater. It isn't cashmere, but that doesn't matter, because it's not $268, either: in fact, it's a much more reasonable $25. Yay! They make it a few different colours. It's downright adorable. So it sells out. Boo!
Where that Old Navy sweater can be yours for the bargain price of... $100.
Will it sell at that price? Well, maybe not. But the evidence suggests that yes, there ARE people willing to pay these kinds of prices for Old Navy, and get into bidding wars over something that was, at one point, reduced to $18:
Obviously what people choose to spend their money on is their business: understood. But we're fascinated by this OMGMUSTHAVEITATANYPRICE attitude that seems to have swept the world of fashion over the last few years. We saw it happen last year with Zara and their tulip dresses (not to mention the infamous asymmetric pumps: £60 in store, often spotted on eBay for £200 and more - and actually SELLING at that price, too), and now it seems it's the turn of Old Navy and its polka dot sweaters to be the most wanted items of the moment, with some people determined to get their hands on one, even if it means parting with close to $100.
What do you think? Would you pay $100 for an Old Navy sweater?