  A sample of 19 low redshift (0.03$<$z$<$0.07) very luminous infrared galaxy
(VLIRG: $10^{11}L_\odot< $ L[8-1000 $\mu$m] $ < 10^{12} L_\odot$) systems (30
galaxies) has been imaged in $B$, $V$, and $I$. These objects cover a
luminosity range that is key to linking the most luminous infrared galaxies
with the population of galaxies at large. We have obtained photometry for all
of these VLIRG systems, the individual galaxies (when detached), and their
nuclei, and the relative behavior of these classes has been studied in optical
color-magnitude diagrams. The photometric properties of the sample are also
compared with previously studied samples of ULIRGs. The mean observed
photometric properties of VLIRG and ULIRG samples, considered as a whole, are
indistinguishable at optical wavelengths. This suggests that not only ULIRG,
but also the more numerous population of VLIRGs, have similar rest-frame
optical photometric properties as the submillimeter galaxies (SMG), reinforcing
the connection between low-{\it z} LIRGs -- high-{\it z} SMGs. When the nuclei
of the {\it young} and {\it old} interacting systems are considered separately,
some differences between the VLIRG and the ULIRG samples are found. In
particular, the old VLIRGs are less luminous and redder than old ULIRG systems.
If confirmed with larger samples, this behavior suggests that the late-stage
evolution is different for VLIRGs and ULIRGs. Specifically, as suggested from
spectroscopic data, the present photometric observations support the idea that
the activity during the late phases of VLIRG evolution is dominated by
starbursts, while a higher proportion of ULIRGs could evolve into a QSO type of
object.
