Multimillionaire hospitalized after $20 million shopping spree

Posted Feb 15, 2012 by JohnThomas Didymus
A New York multimillionaire, Ed Bazinet, recently suffered a manic episode and went on a wild shopping spree in which he ordered $20 million worth of merchandise including 96,000 sachets of closet solutions from ElizabethW, for a total of $1.6 million.
Jacob K. Javits Convention Center of New York
Ed Bazinet, 64, is a retired business man. According to In These Times, he lives in Richistan, the idealized "gated community" of the super-rich. He made a fortune of $100 million selling decorative tchotchkes, including miniature ceramic and porcelain houses made in Taiwan, to enthusiastic collectors. His Tribeca apartment, worth $28 million, is described, according to, in Robert Frank's Richistan, as "a 10,000 square foot glass and chrome palace [that] looks more like a wing of the Museum of Modern Art than a home." Luxist describes the 19-room house as a beautiful showcase of modern design with just two bedrooms because space for bedrooms was converted "into into a 'work zone' with a reception gallery, office, studio space, study and storage room."
According to, Bazinet recently suffered a manic episode and went on a wild purchasing spree. He purchased $20 million worth of kitsch in five days of shopping at the New York International Gift Fair.
He visited New York's Javits Center at the gift fair and ordered $15,000 worth of merchandise for delivery to his apartment. But when the vendor called last week to confirm Bazinet's order and receive payment, an aide of the multimillionaire said the order had been cancelled. According to, the vendor said: "We called to get his credit card information and his assistant told us that he had ordered $20 million worth of merchandise. She said he was having a bipolar incident, and had been hospitalized. They're cancelling all the orders. Hopefully all the other vendors called ahead to check like we did."
Katherine Roepke, a spokesperson for Bazinet, confirmed the story, "I don't know that it was $20 million, but much of that is true. He is hospitalized right now with a manic episode. He has been diagnosed with bipolar disorder. We all hope the best for him."
Gawker could not confirm how many vendors were affected by Bazinet's purchasing spree, but a vendor ElizabethW, said he ordered 96,000 sachets of closet solutions for a total of $1.6 million. According to an executive of ElizabethW, Michael Lindsay, "When I asked Ed about the quantities he expressed frustration that many other vendors were asking the same question. While we'll miss shipping the order, we wish him a speedy recovery."