(FORTUNE Magazine) – Britain's economic slump has made joining its aristocracy a bargain. Commoners, both English and foreign, have bought baronies at prices from $80,000 to $112,000, about $10,000 less than a year ago.

Robert Smith, chairman of London's Manorial Society, reckons that Americans, who accounted for only 10% of the market last year, will buy about one-third of the 300 or so titles the organization expects to sell in 1993. Among the newly wellborn is Gary Sokness of Washington, D.C., a broker with the investment firm Janney Montgomery Scott and now, at a cost of about $7,500, Lord of Broughall as well.

Note to the power-and-prestige hungry: U.S. law forbids American citizens from using such titles on legal documents within its egalitarian precincts. Also, the title does not include a seat in the House of Lords or a stately manor. For an extra $750 or so, however, the society will toss in a handsome hand-painted vellum certificate.