Lip balms are going luxe. Photo: Getty Images

In this economy we wait for sales, use coupons and scour the web for deals -- often obsessively.

But sometimes the lure of luxury goods is too strong to resist, so when we do succumb, we make sure it's for a good reason.

Brands like Chanel and Kinerase have recently come out with designer lip balms, equipped with cutting edge skincare ingredients to fight aging and feathering, and a price to match.

At first, we balked. Would we really pony up $45 and $28, respectively, for an item we usually stock up on for $2.99 at our local drugstore checkout line?

But then we tried them, and our lips have never looked back.

Our rationale: When you're reapplying all day, it makes sense to use products that soothe and protect with the best stuff you can buy.

Read on for the latest luxury lip care launches. And follow this link for drugstore beauty favorites.