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There are many luggage makers out there, fighting for the privilege of carrying around your bathing suit and travel toothbrush. That means that it's possible to get a good deal on luggage without sacrificing quality.
Of course, it's also possible to buy cheap luggage that falls apart on its first trip. Your best bet is to find a trusted name brand of luggage on sale. Luggage changes styles every year, just like clothing, and while you probably don't care that you're carrying last year's model, it may make a difference in the price you pay.