Minus the gaudy gold "M" pendant, this M Missoni Wool Knit Bag ($695) is exquisite. It's a good investment for those who covet the famous Missoni pattern but not the price tag.

Though it's still rather expensive, there are several perks to this purse. Firstly, the shape is just right; not too big, not too small. I also love the ruched leather handles and the shoulder strap. The black and grey pattern is unique, and very Missoni. Most importantly, I can see this bag matching almost anything...and when spending a paycheck or two on a purse, that's something to consider.

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