Has the pendulum swung the ‘other way’?

Are the “Exhuberant 00’s” over?

Is conspicuous consumption done?

We all know how writers like to create an image of the change that is taking place in our world, whether it be style, fashion, financial or cultural and hopefully spot something that will make them known as the “observer of our time”.

The sting of this financial crisis is still with us, although we are clearly hearing more and more “good news” and “recovery” stories, even on CNBC, which I now watch as little as possible after being glued to it for almost the entire winter as our financial world melted like a Big Olaf vanilla Coney Island custard cone on a hot summers night.

The real question: Will we see fewer Range Rovers in the Hamptons this summer???  We’ll see…if the first few weekends of May are any indication, I don’t think so.

This story, from the WSJ, may hold some truths…

auction“Fire-sale auctions of mansions, yachts, sports cars and other trappings of wealth have become increasingly common as the rich become less rich. But Mr. Peacock is in the vanguard in attempting to downsize in just one day. The event was less an auction than a lifestyle liquidation, a clearance sale on a decade’s worth of conspicuous consumption.”

Gilded Era Is Going, Going, Gone

Fire-sale auctions of mansions, yachts, sports cars and other trappings of wealth have become increasingly common as the rich become less rich.
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