Supermodel-turned-entrepreneur Elle Macpherson has downgraded her luxurious lifestyle because of the global economic crisis but refuses to give up her most expensive habit - collecting art.
The Australian beauty earns a living from her successful lingerie business as well as her various modelling campaigns, but admits she has still had to give up some of her extravagances since the global recession hit.
But while MACpherson will cutback on her cars, she won't let her art collection suffer.
She says, "I've been consumer conscious for a while. I traded in my Range Rover for a Lexus and I either bike or take my Fiat Bambino on the school run. My only extravagance is art. It always has a place in my budget. All the artists I love, Lucian Freud, Jean-Michel Basquiat, Tracey Emin, Richard Prince, I've invested in."