Despite the current economic climate, rich people are still rich. However, they're starting to feel self-conscious about their wealth, according to the New York Times. In a time when everyone's cutting back, consuming conspicuously just doesn't feel right. So they're consuming non-conspicuously. Legend has it, according to Why We Buy author, Paco Underhill, someone purchased an Audi S4 high-performance sedan and asked to have the nameplate removed “so only the person who really knew what they were looking at would know what it is.” As for the fashion set, the Times reports:
Today, bejeweled fashionistas are pegged as tone-deaf Marie Antoinettes. “It’s not good taste in our business to walk into a party loaded with the biggest diamonds you can find,” said Bud Konheim, the chief executive of Nicole Miller. “You don’t brag about paying $10,000 for a dress for a party. The feeling now is, so what are you telling us? You’re either a sucker or showing off when people have lost jobs.”
The president of Swiss luxury-watch company Vacheron predicts the age of "bling bling" will make way for an era of subtle luxury, since people don't want to be flashy. Alexandra Lebenthal, contributing editor to New York Social Diary, tells the Times that socialites are embracing sales.
It has become fashionable, she said, for socialites to talk enthusiastically about sample sales, eBay bargains and postponements at the hair salon in the interests of thrift.
Harry Slatkin, founder of Slatkin & Co. home-fragrance company, detailed the harrowing state of his wife's 50th-birthday party. They were going to have it at the Four Seasons, but canceled it in favor of celebrating at home with "defrosted White Castle cheeseburgers served on silver trays." At least in the comfort of their own home, they can wear their diamonds and Rolexes without feeling like they're doing something wrong. Turning 50 is hard enough — no one wants to feel guilty about it, too.
Most Viewed Stories
Everything We Know About Brad Pitt’s Plane Incident
It’s Time to Get Over Your White Feelings and Start Taking Action for Black Lives
25 Famous Women on Being Alone
Jaden Smith on the Many Subtle Flavors of Water
Kim Kardashian Might Vote for Donald Trump
22 Intimate Lost Photos of Marilyn Monroe
If You See Brad Pitt As a Fallen Hero, It’s Because the Rules Have Changed
Kylie Jenner’s Getting Sucked Into Tyga’s Debt Problems
Taylor Swift’s Squad Begged Kim Kardashian for Mercy
Bask in the Glory of This Dramatic Email Sent to a UCLA Freshman by Her Future Roommate
From Our Partners
powered by PubExchange
Latest News from The CutAdam Levine and Behati Prinsloo Unveiled Their Baby on Instagram
Her name is Dusty Rose Levine. Awwww.Beyoncé and Tina Knowles Did A Normal Mother/Daughter Thing
Houston’s Solid Gold Beauty Supply received the Queen Bey herself.Brad Pitt Probably Won’t Face Prosecution for Child Abuse
The Brangelina Divorce Machine marches on.North West Is a Pretty Great Flower Girl
Brides, prepared to be upstaged.The Kids From Stranger Things Are Hanging Out With Nicolas Ghesquière
Millie Bobby Brown, Caleb McLaughlin, and Gaten Matarazzo hit up Louis Vuitton’s HQ in Paris.A ‘Cagney & Lacey-Esque’ Police Drama Is Currently in Development at ABC
Bring. On. The Female. Detectives.Kylie Jenner’s Getting Sucked Into Tyga’s Debt Problems
She’ll have to answer questions under oath in the latest lawsuit against him.Lauren Hutton and Gigi Hadid Make the Best Intergenerational Model Pair
It was a major moment.Your Basement Gym Is No Match for These $10 Million Wellness Amenities
The two superstar brokers of Million Dollar Listing New York fame discuss.The NFL Is Taking Steps to Recruit More Women
It’s part of a major push for gender equality.
When it comes to white denim, the only rule is that it should flatter you.Hotel Counts Sensual Framed Photos of Jeff Goldblum Among Its Amenities
A true luxury.The Cabal of Fabulous Rich Ladies Who Built Gustav Klimt’s Career
Their stories and portraits are featured in a new exhibit at Neue Galerie New York.The Chanel No.5 Launch Party Was the No. 1 Place to Be in L.A. Last Night
It doesn’t get any better than Nas and Chanel bags.An Uber Operator Allegedly Laughed at a Man for Calling to Report a Sexual Assault
The driver has since been permanently banned.Kate Moss and Paris Hilton Partied This Week
People cried while waiting for Gigi Hadid.See the Newest Fashion Campaigns for Fall
Including Pharrell’s democratic G-Star campaign, Fenty Puma by Rihanna, and Acne Studios.Kim Kardashian Might Vote for Donald Trump
Oh, dear.A Black Woman Painted Her Entire Body White to Protest Police Brutality, and Facebook Removed the Video
It took hours for the platform to restore her video.Toxic Masculinity Causing Men to Avoid Tofu and Exclamation Points
Men aren’t the only jerks who text with periods.