What credit crunch?

Regardless of the state of the economy in the rest of the world you can guarantee someone around Courchevel will be flaunting their conspicuous consumption. If not in the size of their chalet then it’s what they are driving. Now Ferraris are no big thing in Courchevel with 430s a dime a dozen in the spring. But earlier this week 3 Ferraris arrived on the back of a flat bed truck (because of the snow) at the hotel Grand Alpes. An Enzo (1 million + euro), a 430 (approx 200k) and my personal favourite a classic F40(400k+). Today they left resort, but as they couldn’t go up the hill around the 1 way system (because of the snow), they had traffic stopped down to the roundabout. And the drivers? Russian? Monegasque? No. on closer inspection all the cars had English registrations.