Remember the credit boom when bling was in? When spending on a $75,000 Swarovski crystal-studded lavatory, a £50m diamond-studded skull, $3,000 bottles of gold-infused champagne, £200m mega-yachts, and $500m villas in Southern France seemed like the normal spending habits of the mega-wealthy?

No longer. Designers, architects and estate agents say less is the new more for the former Kings of Bling.