Fair for Millionaires Flops

What if they held a millionaire fair and no one came?
That is pretty much what happened to the seventh annual Millionaire Fair in Moscow over the weekend.

A report from AFP says the annual celebration of all things Blingshevik was sparsely attended, except for the occasional luxury purveyors praying for a miracle. (The fair didn’t fare well last year either, leading me to put it into the Wealth Report’s official “bad timing department.”)

The AFP article said organizers hoped to mask the small turn-out by hosting it in the 18th-century Manege center, a small space compared to the Crocus-expo center outside Moscow where the event was held in previous years.

To lure prospective oligarchs, the organizers posted a 44-foot-long limo out front along with some bear-skin-covered arm chairs and some thoroughbred horses.

“Everyone has been affected by the crisis, including the rich,” said Mark Tuck, who sells villas in Bali and who says business was down 40%.

Of course, some preferred to take the more optimistic, glass-half-full approach. “Up until now things have been fine, let’s see things in a positive light,” said Nasser Al-Hai, the head of the Dubai business Ultimate Motors.

Added one smiling salesgirl selling $20,000 skis: “I don’t speak about the crisis, I think positive!”

If you are selling $20,000 skis in this economy, perhaps that really is the best approach.