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Recession Special: Does a Down Economy Mean Less Award-Show Bling?

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Lovely scaffolding outside of Neil Lane back in August

Let's take a minute to consider the littlest victims of the recession: The expensive baubles star wear to awards shows. A few days ago, the LA Times fashion blog All the Rage predicted that economy-minded actresses will eschew big jewels this year and instead wear more modest pavé designs, since "thousands of minute stones feels less haughty." Today, Style List wonders what this means for jewelers like Neil Lane, whose recently-opened La Cienega boutique comes "equipped with a special VIP room where celebs can peruse multi-million dollar earrings in peace."

It's a good question. Obviously, now is a terrible time to be selling luxury goods. Then again, it's not like actresses are going to deck themselves out in gumball-machine necklaces—even a relatively subtle pavé cuff has to come from a jeweler. We get the feeling that Lane—who, sort of hilariously, told WWD back in October that he "definitely would like to bring taste to the masses”—will find a way to get his designs onto the red carpet somehow.
· Golden Globes red carpet style? Empathy chic [All the Rage]
· Awards Season Accessories: Will the Stars go for Understatement? [Style List]
· Storecasting: More on Neil Lane Opening Nov 4 [Racked]