Recession hits the Hamptons' star-studded economy

How exactly does a tanking economy translate in the habits of the luminaries who live in a high-end resort community like the Hamptons, otherwise known as the home turf of the "other half," and the place where zillion-dollar homes, Murcielagos, and a sense of entitlement have taken over the once-bucolic landscape like a bad case of the chicken pox?

For one thing, and contrary to popular belief, celebrities aren't recession-proof. Take, for example, the insidious goings-on inside a tony, celebrity-filled Hamptons restaurant. These days, according to its proprietor, "Instead of ordering a $600 or $800 bottle of wine off our menu," the regular star-studded clientele "dips into their own wine cellar, and brings their own bottles. We've seen a big uptick in the corkage fees we're charging."

And the rest of us thought we had it bad with skyrocketing gas prices, the mind-boggling rise in income inequality, the credit collapse, and the mortgage crisis, not to mention the imminent threat of getting laid off hanging over many of our heads.

At least celebrities and the wealthy are feeling the pinch, too, in their own unique, rich-person kind of way. But other than sacrificing some Châteauneuf-du-Pape here and there, do any celebrities feel a heightened obligation (moral or otherwise) to reign in their excessive spending? Who among their staff, may we ask, are the first to go—trainers? Limo drivers? Butlers? In other words, when the economy goes downhill, do Hamptons celebrities respond in kind, paring down their lavish lifestyles in solidarity with the rest of us regular Joes?

Yes, they do, says Nick Leighton, host of Plum TV's weekly gossip roundup The Juice.

"First and foremost," he explains solemnly, "their entourages are much smaller."

When it comes to fashion and keeping up appearances, though, bling is still king. However, notes Leighton, "while it's the same amount of bling, it's just from last season. No one's wearing this season's bling." He adds, "If you're going to downscale, the Hamptons are about always keeping your polish. So instead of platinum, this year some of them are just doing gold."

Dave Ceva, owner of Solé East, a luxury hotel, bar, restaurant, and lounge in Montauk, agrees. "When it comes to our celebrity clientele, we haven't exactly seen much paring back," he laughs, adding, "they're still renting the most expensive rooms, and eating and drinking the most expensive things on the menu. Two weeks ago, one A-lister drank us out of every single bottle of champagne in the entire place."

Curiously, champagne seems to be one of the luxuries celebrities are most reluctant to part with. P. Diddy/Puffy/Sean Combs/whatever his moniker of the moment is showed up very late at Dune in Southampton over the Fourth of July weekend. It didn't matter that the sun was close to coming up—he still ordered numerous bottles of top-shelf champagne.

But not every celebrity is drinking away his or her economic woes. Katie Lee Joel (wife of Billy) says, "I think that people really like to talk about the recession, but I don't know how much people are actually cutting back out here [in the Hamptons]." She goes on to explain, "But it's funny, we're hearing so much about it that I think about it. I think when I go out, Do I really want to spend that?—even though I can afford it. It just doesn't feel right."

For her part, model, actress, and 10-year East Hampton resident Molly Sims reveals, "In a recession, I've become more eco-conscious. Everybody's become more conscious. And I think the more we become more conscious, we'll actually get something accomplished and get something done. I've been reading books. I just got the Gorgeously Green book, which is fantastic. It gives you tips. I think a lot comes when you say, 'I want to go green,' but you kind of don't know, so little tips make it simple."

So maybe some, er, good will come out of an economic crisis after all.

Speaking of good, besides the beaches, boats, and BBCs at Cyril's, one of the staples of the Hamptons scene is the charity circuit, which raises millions of dollars each summer season for a range of causes. But what does an economic downturn do to the charitable causes that rely on the deep pockets of the wealthy and the endorsements of celebrities? Does charitable giving by the celebrity/wealthy classes increase as they recognize their good fortune in the face of others' harder times? Or, conversely, does charitable giving reflect across-the-board belt-tightening?

Stella Keitel, up-and-coming actress, anti-Lindsay/Britney/Paris, and longtime Hamptons resident (and, it has to be noted, daughter of Harvey and Lorraine Bracco), muses, "I think the charity circuit doesn't get as badly hit, because most people who support charities are wealthy people who support the charity because they want the tax write-off, bad economy or not. Which is great, because at least it's charity. So no matter where you're coming from, you're still supporting the charity! At the end of the day, it's a beautiful thing to help someone else."

Katie Lee Joel concurs. For her, supporting charities is the right thing to do, especially in such precarious economic times. "Giving back," she says, "is always the most important part of life."

This is coming from a woman who was recently gifted a $17 million home in Sagaponack, courtesy of her husband, but who are we to judge?