Now might just be the time to indulge your champagne taste
This economy, for better or worse, has redefined the term “need.” We don’t really need to buy that new 42-inch plasma TV, but it’s so cheap! How can we not? And those Christian Louboutin suede booties? They’re practically giving them away! (Fine, that one’s a bit of stretch, but bear with me here.) Times of economic uncertainty bring up all sorts of questions. Chief among them: what really distinguishes a need from a want?
Is it irresponsible to shop when our state’s unemployment rate has rocketed to 7.4 percent, a high we haven’t seen since 1993? Probably. But that doesn’t change the fact that it’s a fantastic time to invest in things that you otherwise wouldn’t be able to buy — a timeless designer suit, a caviar facial, a meal at that seemingly out-of-reach fine French restaurant.
We understand that “splurge” is a relative term. As is the word “luxury.” One man’s special-event-only dinner is another man’s value meal. But no matter where you fall on the budget spectrum, one thing is true for all: a dipping Dow is translating into dipping prices on the finer things.
Our nation’s economic troubles are one harsh reality. But there’s no need to wallow in the sadness of it all — quite the opposite, actually. Pop some bubbly and toast to the good life. Because when times are tough, retailers and restaurateurs are finding ways to make your few dollars feel like a million bucks.
For those who have always been able to afford the top-shelf goods life has to offer, more power to you. Now you can snag those luxe items for less (lucky you). And for the rest of us? A little slice of the Champagne life is, strangely enough, nearer to our grasp than we thought.
Mass-appeal deals
Fine-dine on a dime
Synonymous with luxury (or at least an outstanding cut of meat and a check that’s well into the three-digit range), the city’s upscale dining establishments have for too long been out of reach for many, saved for a milestone birthday or special anniversary. But now, restaurants are redressing that notion (whether they like it or not) by offering prixfixe menus at incredible prices.
Aujourd’hui at the Four Seasons (200 Boylston Street, Boston, 617.351.2037), arguably one of Boston’s most posh epicurean destinations, offers diners a nightly three-course menu for the $40 they’d typically pay for an entrée, plus wines starting at $10 a glass. Same goes for Chef Michael Schlow’s power player of a French inspired restaurant, Radius (8 High Street, Boston, 617.426.1234), where the prix-fixe menu costs a mere $45 per person. Pigalle (75 Charles Street South, Boston, 617.423.4944) is offering three courses for $40, and the Boston landmark in sleek new digs, L’Espalier (774 Boylston Street, Boston, 617.262.3023), gives new meaning to “power lunch” with their $24 lunch options and $40 three-course menu. Now, for a little more than the cost of a three-course meal of reheated frozen food at a cheesy chain restaurant, even penny-pinchers can dine in style.
Discounts are the new black
A little known fashion rule? When the Dow is down, it’s time to stock up.
Case in point — an utterly chic, classic black pencil skirt by Blumarine at Neiman Marcus (5 Copley Place, Boston, 617.536.3660) is marked down to $184, a fraction of its original $525 price tag. Now is the time to buy pieces that will endure: a timeless suit that will carry you from season to season, a durable leather bag that will never go out of style, impeccably made shoes that will last and be worth the trip to the cobbler to mend tired soles when necessary.
Gorgeously crafted, covetable labels that rarely or never go on sale (here’s looking at you, Christian Dior) have slashed prices on pieces that many of us could really only dream about owning in better economic times. The proof is in the proverbial pudding: you can now save up to 50 percent on select handbags and ready-to-wear pieces from Christian Dior; staple white blouses from Maha Barsom went on sale for 40 percent off, a first for the designer; classic black trousers by Diane von Furstenberg, a must-have for work or play, have been marked down from $275 to $79 at Barneys New York (100 Huntington Avenue, Boston, 617.385.3300); and the list goes on.
Online sale sites like Rue La La (www.ruelala.com) and Gilt Groupe (www.gilt.com) have been selling high-end designer labels for men and women at up to 70 percent off the original price since well before the economic downturn. But now, these spots for designer deals are getting overstock from designers they would never have gotten before; these brands might not be selling as well at regular cost, so sale sites (and now you) have better chances of getting their hands on them. Ah, the democratization of fashion at its best.
Recent sales on Rue La La included gorgeous Yves Saint Laurent bags and pumps and Miu Miu handbags for outrageously marked down prices. Gilt Groupe has the online sample sale on lock, scooping up pieces by Catherine Malandrino, Oscar de la Renta, and Helmut Lang and slashing the prices by more than half. Just don’t sleep on these deals — they are impulse purchases that defy the name.
Luxe city getaways
Restful, rejuvenating vacations don’t require a plane ticket. Now is the time to book a staycation, as local luxury hotels are offering weekend packages that present the right amount of pampering at the right price.
Didn’t think you could afford a stay at the famed Park Plaza (50 Park Plaza, Boston, 617.426.2000)? In 2009’s economic climate, you can get more bang for your buck. Their Fun with Fondue package starts at $259 and includes a one night stay at the historic hotel, a prix-fixe dinner for two at The Melting Pot (cheese fondue, salad, filet mignon, and chocolate fondue with a Champagne toast are on the menu), and free overnight valet.
For high rolling on a lower budget, the Bets and Bites package at Mohegan Sun (1 Mohegan Sun Boulevard, Uncasville, CT, 888.226.7711) offers a one-night stay, a $100 food and beverage credit plus a reservation at any of the casino’s restaurants (including Todd English’s Tuscany) with a visit by the chef, and a $10 free bet per person. Rates start at $129 per person when you book for two.
Live the island life at the Union Street Inn (7 Union Street, Nantucket, 888.517.0707) with $200 rooms for two Monday through Thursday all spring long. Nantucket Reds not included, though small plates and dessert at iconic restaurant American Seasons are.
Don’t feel bad. We can’t afford to have Dennis Duffy design our homes, either. But we can pretend for one night. The South End’s Chandler Inn (26 Chandler Street, Boston, 617.482.3450) will boast redesigned boutique rooms in early April, courtesy of Duffy. For $199.99 per night, get a home-away-from-home experience surrounded by minimalist, modern décor, plus breakfast at the Berkeley Perk Café, admission for two to the Museum of Fine Arts, and a prix-fixe pasta and wine dinner at neighborhood eatery Pops.
Well-priced pampering
For most of us, caviar is a delicacy we can rarely put in our mouths, never mind slather on our faces. Thank you, recession, for changing that. At Emerge spa and salon (275 Newbury Street, Boston, 617.437.0006), their ultra-indulgent Caviar Body Ritual and Caviar Facial, typically priced at $235 each, are available for $100 off when you book both. Because really, if we’re talking about conspicuous consumption, why not go over the top?
At Melt salon and spa (172 Newbury Street, Boston, 617.262.1116), monthly deals keep getting sweeter. Recent specials included customized 50-minute massages for $60 instead of the usual $100, a free manicure with the purchase of a classic pedicure, and now an exfoliating body polish for $25 off the original price. Pampering could move up on your priority list with prices like these, right?
Men can get groomed in style for less, too. Through April 30 at the sleek boys’ club of the Barbershop Lounge (245 Newbury Street, Boston, 617.450.0021), a 60-minute full-body massage costs just a dollar a minute. That’s $50 less than the typical price. And through the end of March, get a foot treatment (read: manly man’s pedicure) for just $10.
Steals for the well-heeled
Smart art
Dropping thousands of dollars on something pretty to look at can still be tough these days, even for those with good cash flow. But payment plans on artwork can mean buying a painting that’ll adorn your walls for years is a more affordable option than you might expect. Most galleries will allow buyers to pay in installments, so don’t be afraid to ask — that masterpiece may be hanging above your couch before you know it. The terms of the payment plan recently launched by Chase Gallery (129 Newbury Street, Boston, 617.859.7222) are particularly generous: no interest and no payments for a year on any piece — at any price — in the gallery.
It may not be a bad time for a trip to the auction house, either. With fewer bid-happy financiers showing up to speculate, the economic slump has created buyer’s market. Christie’s worldwide sales were down 11 percent last year, and reports of sale prices 20 to 40 percent below pre-auction estimates at the major houses are not uncommon right now. Skinner, the big name in auctioneering in the Bay State, is hosting auctions in Boston for European furniture and decorative arts on April 11 and Asian works of art on April 24 and 25. Check out the catalogue at www.skinnerinc.com, and you may find a piece that will elevate your living room for less than an arm and a leg. Like, say, just an arm — you can spare that in name of the arts, right?
Riding in style
So maybe the sky is falling, but buck up, because so are prices. According to Ernie Boch Jr., there are great deals available on everything, and it’s not just the auto industry. “Everybody wants to do business more than they ever have in the past because of this economy. I’ve never seen anything like it,” says the owner of Boch Automotive.
Ferrari has cut back their distribution to North America, according to Boch, who offers the cars to the few and fortunate
locals who can afford them. But the good news there is that while prices remain the same (i.e., astronomical), fewer people are buying, so you’ll have more to choose from if you’re in the market for one. And presumably, lots of new friends, too.
Same goes for Mercedes and Porsche. Since people are cutting back on spending, the availability of used luxury cars has jumped. For example, Boch estimates that the prices on used Porsches have gone down at least 15 percent from this time last year. “And the Escalades and Yukons of the world?” says Boch. “The prices are down 40 or 50 percent.”
If you can afford to fill the gas tank — and deal with the eco-guilt that comes with driving such a gas-guzzler — now is a good time to buy.
Hot to (globe)trot?
If you’ve got a yacht, we’re jealous. And if you don’t, you can charter one and pretend it’s yours for a week or so. Salem’s Angela Connery (www.acyachtcharters.com), a broker who connects seafarers with privately owned yachts tailored to their every need, says prices on yacht charters aren’t drastically dropping, but deals are definitely available.
For about $5000 (a figure that’ll cover food, drinks, and a full crew on board for about a week), a couple can charter a yacht to the Virgin Islands — one of the most economical of vacation spots, according to Connery. That’s a $1000 to $1500 savings on the typical cost. Another deal might be getting 10 days for the price of seven or eight, says Connery. “Many people don’t realize how affordable it actually is.” Of course, affordable is a relative term.
Private jets still not out of reach for you lucky bastards? Good for you. Now you can buy into fractional ownership — which typically costs upwards of $100,000 for partial ownership of a jet and a set number of hours of use per year — for a lower price. Check out the new 15-hour charter card from Avantair (www. avantair.com) for $72,500, which allows members to fly anywhere in the continental US and 200 miles into Canada, as well as to certain airports in Mexico and the Bahamas. Yeah, that’s still more than double the median income in Massachusetts, but we’re not hating if you can still swing it. Just let us hitch a ride once in a while, ok?
