Mere weeks from today will arrive the most fashionable Monday of the year. By now, we're certain that costumes are being sewn, the venue is being planned and guest list is being fine-tuned. But for those keen on attending the exclusive event, the latest piece of news might make them think twice. The Met Gala 2023 is set to take place on May 1 at the Metropolitan Museum of Art in New York City. The event was started in 1948 by fashion publicist Eleanor Lambert to raise funds for the Metropolitan Museum of Art's then-newly launched Costume Institute. Back then, the event was far less swanky than it is today and the very first edition was a dinner function for which the entrance ticket was $50.
Much has changed since then; the prices of goods as well as the image of the Met Gala. In recent times, its fashion philosophy has seemingly taken a backseat while its celebrity guest list and exclusivity have become more of what the event is known for. In 2023, it seems that inflation has affected every sector, even those concerning the rich and famous. The tickets to the 2023 Met Gala are priced at $50,000 this year, which marks a steep increase of approximately $20,000 compared to the ticket prices from last year. Let's not even get into the comparison with its ticket prices from when it just started. Money from the annual fundraising event goes toward maintaining and operating the Costume Institute, including running exhibits. In 2022, the Met Gala earned approximately $17.4 million.
While many find the price increase in 2023 for no real reason unjustified and absurd, others believe that this will only make getting a seat at the event even more exclusive. Only the guest list at the actual will tell us who will continue to patronize the arts, even in the face of inflation.