From Russia With Bad Timing: The Millionaire Fair

01/01/2009 05:12 am ET | Updated May 25, 2011

The Millionaire Fair seemed like such a good idea when it was launched in 2002. Gather together all the companies that sell to the rich--watch makers, Bentley and Rolls Royce, furriers, jewelers, champagne makers, yacht builders, private jet brokers--and invite wealthy consumers for a night of conspicuous consuming.

It is a kind of traveling flea market for billionaires, with free vodka.

These days, the Millionaire Fair doesn't look so flush. At a Millionaire Fair held in Moscow, yachts were being offered at two-for-one discounts, and there still weren't any takers, according to a Reuters article by Simon Schuster. Crowds were thin and a lot of the attendees were journalists, a sure sign of crisis.

Read the full story here OR watch a mind-boggling publicity Millionaire Fair video:

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