We tend to think of Rene Caovilla as the Cartier of shoes. Maybe it's the royal red boxes, the spectacular gems or it could be the lofty prices. The association is probably a combination of the three but the expensive issue can temporarily be circumvented.
Several sandals from the summer '08 collection have been dramatically reduced. A quick browse through the online sale section reveals discounts of up to 75% off. A rather ornate Bulgary-looking shoe was $1295 but is now $453, a gemed flat was $1055 and is now $255 and an evening heel was $1275 but reduced to $446. There are a few bags also reduced but your money is probably better spent on shoes-- those are the real jewels here.