Hermes Handbag. Kini big deal?

Kim Kardashian carrying a giant orange ostrich skin Hermes bag worth around $30,000

Why is the bag worth $30, 000? That's like N4.5mil. That money would buy me Toyota FG Cruiser (Tokunbo version :-)). Why would anyone spend that much money on a bag?
Please don't insult me, just educate me...after now some people will start talking about my lack of exposure. Please respect yourselves and don't even go there...:-). So why are these bags so expensive? Fashionistas, oya over to you...