Funnily enough I still remember, when still not more than about 8, going with my father when he was buying a Christmas present bag for my mother. It was in the 50s, in one of those dept. stores where there was a counter, and the assistant would show you the things.
The first bag (I still remember!) was 32/6d, but my father immediately said ‘No thanks, it looks ‘granny-ish’, and it did! - so I thought ‘phew’ - I knew my mother wouldn’t like it.
The one he bought was beautiful, in black calf, lined with suede. But it cost 3 guineas, very extravagant when they were almost permanently skint. But she loved it, and used it for ages.