The Investigators: Luxury for Less! - WMC Action News 5 - Memphis, Tennessee

Reported by Donna Davis

The Investigators: Luxury for Less!

MEMPHIS, TN (WMC-TV) - If you have champagne tastes on a beer budget, the current economic climate may be the perfect time to treat yourself.  Businesses all over the Mid-South are cutting prices in the face of a tough economy.

Memphis Jeweler Doron Rosen is a fourth generation diamond cutter. In good times, he saw 20 customers a day.  Now that's slowed to two or three.

That's bad news for him, but good news for you.

"We ordered so much merchandise for the season, and the customers are not here, so we are willing to make deals," he said.

Some of Rosen's merchandise is for sale at even or below cost.

"Like this bracelet," he said displaying at item for sale in his store. "Totally handmade...hundreds of diamonds...retail $18,000. I'll take $7,000, and I'll be very happy."

Perhaps a grand adventure is what you need.  At, we found a 44 day world cruise on sale for $2,300 - a 76 percent discount.

Of course, every king needs a castle...the Wall Street Journal compiled a list of the nation's finest foreclosures - million dollar homes you can buy for a fraction of their value.

A Florida palace with indoor pool and solarium was bought for $3.7, but the owners recently accepted a contract to sell it for $1.1 million.

According to Realty Trac, there were nearly 8,000 million dollar homes in foreclosure during the first 8 months of this year!

University of Memphis marketing professor Marla Stafford says there's definitely a psychology to getting a bargain - no matter how over-the-top!

"If we can buy a luxury item, a designer item at a good value, we can feel good about what we purchased," she said.
Over at the Mona Spa and Laser Center, luxurious pampering can be had for a steal.

"You can enjoy a true monaspa luxury facial or massage for 50 dollars," owner Mona Sappenfield said.

You may not be able to fix the economy, but these days you can at least dream about living in the lap of luxury - for less.

To search foreclosures in your area, click here:

To search vacation deals, click here:

To read the Wall Street Journal article on “The Finest Foreclosures”, click here:

Click here to send an email to Donna Davis.

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