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Do you feel sticker shock when you learn how much a pair of designer shoes cost? Do you have a hard time spending even a few hundred dollars on a pair of shoes? Well, get ready to pick your jaw up from the floor – a shoe just sold for $418,450!

The world’s most expensive shoe sold at a charity auction in New Zealand, with all proceeds going to the Ronald McDonald House, an organization that helps support families of sick children who are being treated in a hospital. Designer Kathryn Wilson worked with Sarah Hutchings of Orsini Fine Jewelry to develop a luxurious shoe that embodied the Cinderella fantasy. Wilson took more than 50 hours to create the handmade heel, which is adorned with 21.18 carats of diamonds and is aptly named the “Diamond Shoe.” Wilson applied each diamond to the shoe using a pair of tweezers and a special adhesive. The shoe is so expensive that it was placed in a shatterproof box before being put on display at the auction and had to be protected by two guards. At least the extravagant sale benefited charity!

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This shoe may be one conspicuous way to show off your wealth, but if its just not enough, why not splurge on the world’s most expensive socks too? You may not be able to wear them with the shoe (either because you don’t like the socks with heels trend or because you’d fear for your life while wearing something so valuable) but you’d certainly have some bragging rights about purchasing pricey fashion pieces! The costly socks will set you back about $1,400 and are made of Cervelt, the fine down fiber of the New Zealand Red Deer that is known as the “diamond of clothing fibers.” Artisans in Italy produced only 100 pairs, all of which are being sold at Harrys of London stores in Abu Dhabi and Dubai.

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Accessories aren’t hogging all the attention when it comes to high-priced fashion. Last month, British designer Debbie Wingham debuted a dress she designed that’s encrusted with 2,000 red and white diamonds. Dubbed the world’s most expensive dress, the gown is worth about $17,000,000. Luxury brand Hermès also recently showed off “the most expensive t-shirt in the world.” Priced at $91,500, the t-shirt is made of crocodile skin and is being sold at the Hermès store on Madison Avenue in New York City.

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Just when you start to think the most expensive fashions are only the special edition pieces and one-of-a-kind creations, check out what Louis Vuitton recently announced about the prices of its products. LVMH, Louis Vuitton’s parent company, will be raising prices by anywhere from 5 to 12 percent in Asian, European, and U.S. markets. Analysts expect that shoppers will see price increases on almost all products except for the brand’s leather bags.

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Customers loyal to luxury brands like Louis Vuitton are less sensitive to prices than most other shoppers, so the price hikes probably won’t affect them. They’ll keep buying the same products they were buying before despite the bumped up prices.

But what about the rest of us shoppers who don’t regularly purchase such high-priced products? Are designers using outrageous designs like the ones above and price increases on current products to alienate potential customers, or is this simply a sign that making a fashion statement will soon be based more on advertising how much an item cost than what it looks like? What do you think of all these record-breaking price tags, and how much are you willing to spend on something that’s “fashionable?”

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