NTDTV Moscow's Millionaire Summer Fair

Crisis? What crisis?

There were no signs of an economic downturn at Moscow's Millionaire Summer Fair.

Thousands of Russia's wealthiest residents turned out for the two-day celebration of luxury and excess.

Dripping with jewels and flowing with champagne, the fair gives visitors the chance to indulge in the kinds of gifts and goodies only the world's wealthiest can enjoy.

Despite the doom and gloom of the global economy, Moscow's elite seemed happy to keep spending.

[Yury Lysenko, Telecoms Businessman]:
"It's not difficult to sell anything in Russia, it's like the crisis is everywhere in the world but in Moscow it's Friday night."

[Unidentified businessman]:
"I don't feel the crisis in Russia, I think we're far from the crisis, very far."

From a 230,000 dollar Mercedes to a 10,000 dollar kitten — the fair's price tags are not for the faint of heart.

But organizers said business was still booming.

[Yves Gijrath, Millionaire Fair Founder]:
"It is logical that you do a little step back, but still the market is huge in Russia, still a lot of opportunity."

Russia's oligarchs may have lost hundreds of billions of dollars in the financial crisis.

But nothing seems to dampen the spending power of Moscow's millionaires.

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