Thursday, January 29

Economy, shmEConomy! Now how about an antique settee for the living room? It’s Young Collectors’ Night at the Winter Antiques Show at the Park Avenue Armory, and for these whale-trousered whippersnappers, the global financial meltdown is no reason not to continue sprucing up the cottage in Quogue! The board includes Kipton Cronkite, who’s a distant relative of Walter and is probably bad for Superman; freelance socialite Hudson Morgan, who may or may not show up in lime-green pants; perky Gillian Hearst Simonds, who may buy something simply mad; and William Gilbane III, whom we’ve never heard of but sure sounds like a “young collector.” Later, Hollywood continues to fete itself while the world falls apart, so why not fashion? It’s the Fashion Group International’s Rising Star Awards, held, as per usual, at the decidedly unfashionable Rainbow Room (take heed, nominees: One of last year’s winners was new Michelle Obama clothier Jason Wu!), a great chance to flex one’s vapid small-talk muscles before they are completely overtaxed by Fashion Week. Among this year’s nominees are designers Sue Stemp, Christian Cota and Ivanka Trump (in the bling category), while presenters include socialite fetish object Phillip Lim and the ageless Tory Burch, who will give the keynote.

[Young Collectors’ Night at the Winter Antiques Show, Park Avenue Armory, 6:30 p.m., 646-619-6031; FGI’s Rising Star Awards, the Rainbow Room, 30 Rockefeller Plaza, noon, invite only]

mbryan@observer.com Thursday, January 29