'tis the season to be rich

Rich People Now Making Lavish Purchases at Underground Shopping Parties

Todayโ€™s economic wasteland has unsurprisingly managed to support the very rich. However, unlike the olden days, when being deep-pocketed wasnโ€™t quite as loathed and the rich could spend lavishly and freely in daylight in the open plain, lately theyโ€™ve taken to shopping in hidden enclaves. Secret underground shopping parties that take place in hotel suites, private showrooms, or rich peopleโ€™s abodes are proliferating so the species can shop without feeling โ€” perish the thought โ€” embarrassed about their money. Eve Goldberg, owner of diamond dealer William Goldberg, just opened one such secret salon. โ€œPeople are saying: โ€˜Itโ€™s that time of year; I want to buy something, but I feel a little weird,โ€™โ€ she told the New York Times. โ€œOften they tell me, โ€˜I donโ€™t want to be out there making an announcement with a big bag that says Harry Winston.โ€™โ€

Not only are they avoiding public shame by purchasing, according to the Times, crewelwork pashminas and pavรฉ-diamond pet collars only among each other, these rich people are also having fun doing so. Consumer psychologist Eric Spangenberg calls these secret spending parties โ€œthe high-end equivalent of a Tupperware party.โ€ Secret-shopping-party organizer Joan Horton notes the rich people enjoy โ€œthe camaraderie and social experience.โ€ They get an even bigger kick out of the whole thing when organizers donate a portion of the proceeds to charity.

The rich must be quite ashamed of their innate need to spend lots of money, because attendees of these underground shopping fests didnโ€™t even give quotes to the Times. But naturally, a few of them had no problem posing for pictures for the story while shopping.

Even in Recession, Spend They Must: Luxury Shoppers Anonymous [NYT]

Rich People Now Making Lavish Purchases at Underground Shopping Parties