Nice one, April. I love it when you are active on the forum.
First of all, we need to define "accessories". Handbags? Footwear? No footwear in my book. That's a separate category. But everthing else is an accessory if it's not clothing.
Accessories don't last that long - especially the cheap stuff. Don't think I'm turning my nose up at the cheap stuff becuase I'm not. I shop at H&M too you know :0). It's just a fact. Costume jewelry breaks or gets tarnished fast, so there is a limited life span.
I like a good assortment of accessories in a wardrobe. But you still have to pick them wisely. No overflows and things you don't wear. A good rule of thumb is that you have to be able to SEE all your acccessories. If you end up hiding them due to lack of space - you have too much.
I cannot be all that objective when it comes to handbags. They are my weakness and I have many, many beautiful handbags and will never stop buying them. But I do have space for them AND I pass on bags that have had their time with me.
As I said before - if you are not a bag lass like me, all you need are 3.