Christie and the It-Knit Bag

Remember those Margaret Nicole $130 cabled clutches that were causing such a stir around Blogger-town?
Small potatoes.

Citizens of Superstarra-ville, I present you with the newest it-knit bag that is just begging to be knocked off.

Ok, it's Valentino.
Ok, it's cashmere.
Ok, it's got the big bling in the front.

But at $1050...would it be an amazing show of hubris to say I could make it for a little less? This purse isn't available for purchase yet, but you better believe I'm gonna be sporting this style fairly soon...and can anyone say holiday gifts?