Let’s take a trip down memory lane and look at the It bags of times past. Arguably, the first It bag craze was started with the birth of the Kelly bag, designed by fashion house Hermes for Grace Kelly, actress and princess extraordinaire. The bag became famous after making an appearance in Life Magazine in 1956. The actress was using it to hide her pregnant belly from the prying paps; it didn’t work, but it did give the crocodile skin bag some great press. This bag has been called the greatest bag of our time. Celebrities, socialites and Kelly fans rhapsodize about the bag’s elegance, timelessness and clean lines. There are waiting lists to get this bag.

From the Hermes Kelly, we move on to the Hermes Birkin. Named after actress and singer Jane Birkin, this bag has been spotted on the arms of Victoria Beckham, Katie Holmes, and Kate Moss among others. Reportedly, the bag got its name after Hermes executive Dumas, sat next to Ms. Birkin on a plane and she complained about not having a decent bag for weekend trips.

The Fendi Baguette (don’t you just love the name), came out in 1999 and it was really the first It bag to create a furvor; many deem it to be the original It bag, in fact. The bag, designed by Silvia Venturini Fendi was quite small in comparison to the mammoth sized bags so popular today. It was designed to be an expensive piece of arm candy that would spice up any outfit. Today there are more than 600 versions of the Baguette.

The Chanel 2.55 is a classic. Designed by Ms. Coco Chanel herself, the patchwork bag was the first of its kind to feature a strap, freeing one’s hands to be able to read a book or sip champagne. It contained several surreptitious pockets, which were purportedly where Chanel would keep her love letters along with some extra cash.

The Dior Saddle bag looks like a saddle. Despite, or perhaps, owing to its equestrian aesthetic, this bag flew off the shelves in 2000. The bag comes equipped with a stirrup, buckles and spurs. It was extremely popular amidst celebs, equestrian types, and socialites, among many others. Designed by John Galliano, the bag revolutionized the industry with its whimsical, off beat design.

The Balenciaga Lariat is a big bag. It was designed by Nicholas Ghesquiere and his inspirations were motorcycles, robots, French Classicism, biker girls and perhaps the blues. The designer reportedly dispatched thirty of his beloved Lariats to heavy weight contenders in the fashion industry: Kate Moss, Sienna Miller, Chloe Sevigny and French Vogue editor Carine Roitfeld, were among the lucky few.

The Luella Gisele is so named after Brazil’s top model, Gisele Bundchen. It’s a huge bag, with again an equestrian theme, although it’s not as horsey as the Galliano model. It comes equipped with a cute heart label; while the original was a tannish brown in color, again reminiscent of our equine friends, a more feminine pink and white are available.

2003 saw the arrival of the Louis Vuitton Monogram Multicolore. The mouthful of a name didn’t stop the crowds from going nuts over this It bag. Designed by Japanese artist Takashi Murakami, this bag was sold out before it even hit the store floors. Apparently, Louis Vuitton’s phone lines were literally jammed with orders after the bags debuted on the catwalks. The bags feature the infamous LV logo in thirty three different colors. The handles are the only part made of leather, and yet these bags fetch a small fortune. This is probably the most copied bag in the world, which is ironic, considering Georges Vuitton invented the LV logo to prevent copyright infringement.

The Mulberry Roxanne, or Roxy as it is called by fans and devotees, is filled with some pretty obtrusive hardware—buckles, studs and a plethora of pockets. It came out in 2004 and, as was the wont of many companies of the day, a scarcity was staged to heighten the bag’s covetability.

The Chloe Paddington, named for the bear, perhaps, comes with a huge, cumbersome padlock which seems to say, I’m daring and eclectic, yet really, really trendy too. It’s basically shaped like a deconstructed doctor’s bag and is made entirely of leather. As with the Birkin and the Kelly, the waiting list for this beloved sack is quite long.

Marc Jacob’s Stam bag is so called after the Canadian model, Jessica Stam. It’s big and its billowy. It’s also chunky and teeming with useful little pockets, inside and out. It has a quilted exterior and a dolly bag fastening. It’s basically a composite of every It bag to date. Fans of the bag include ScarJo, Kate Moss and Lindsay Lohan.

The YSL Muse is sleeker and more demure than its more recent It bag bedfellows. It’s usually always sold out too, adding to its mystique. Countless actresses and starlets have carried this bag proudly.

These luxury designer handbags offer their owners status; and unlike clothes, there is no fretting or crying over sizes. And while these bags seem absurdly priced and outrageously transient, they still have a load of devotees backing them. Market fatigue doesn’t seem to have set in quite yet.