Post-Crash Ireland Becomes Luxury Bargain Basement

In the midst of its worst recession in modern history, Ireland has become a bargain hunter’s paradise, with high-end cars, homes, and wines selling for a song. “It’s a bit like old vultures over the carcass,” one shopper tells Bloomberg. “You’ll see all sorts of places coming down. The recession seems to be biting.”

For most of the decade, Ireland’s economy had been growing at a breakneck pace, spurring demand for the finer things in life. But last year’s crash sent the country into a tailspin that still isn’t easing. The government predicts a whopping 7.5% drop in GDP this year. Now a glut of previously pricey items is clogging the market. “Everyone is looking at how much they have in their pocket,” says one auctioneer. “It’s the fashion. People are looking to buy used goods.” (More Ireland stories.)