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Austrian luxury fair a rich shopper's paradise

It's a Christmas shopper's paradise for people who don't have to penny pinch this holiday season.
/ Source: The Associated Press

It's a Christmas shopper's paradise for people who don't have to penny pinch this holiday season.

A luxury fair that opens in the Austrian capital's Hofburg Palace Friday features a slew of pricey products to tempt those with plenty of cash to spare.

The goods up for grabs include a 10-carat yellow diamond ring worth euro432,000 ($646,589) and a Rolls-Royce priced at more than euro300,000 ($449,000).

Those looking for better deals could consider an ankle-length fur coat for euro39,000 ($58,356) and a necklace, earring and ring set — all octopus-shaped and studded with diamonds — for roughly euro70,000 ($104,741).

Exhibitors at the three-day event called "Luxury, please." say the global financial crisis has made the rich choosier and less likely to spend large sums of money on a whim.