First, there is nothing wrong with opening with card tricks if they are great card tricks. (Just worked for some of the leading financiers in the world in Vegas this week - they loved the card tricks!)
Money in high society often comes off as gauche. Many wealthy people do not carry cash. Trust me, they are not impressed by you whipping out a tatty hundred dollar bill.
I was once hired to work a party. When I rang, they sent the Governor of Texas to answer the door. I was in the midst of some of the most wealthy and powerful people in the state of Texas that night. They had booked me two years in advance.
That's when I realized I wasn't being paid to do tricks. I was being paid for my skills in navigating social situations.
The art in these situations is to be human, not a caricature. A bright red jacket will make them worry more that you might "squirt them" rather than entertain them.
The more you can seem like one of them, the more readily they will accept you. If it seems as if you are trying too hard "Oh, please. Look at me!" the less they will be interested. But be yourself. If you are young, don't wear a monocle and pretend to care about the stock market. Your age is something you cannot change. But what kind of young person are you?
Don't play stupid games with them, "Did anyone loose a red knife?"
You are hired to be there. It is your job to show them something. Approach respectfully. Introduce yourself. Get their name. LISTEN!
Let me say that again.
LISTEN!
This is not the time for jokes, or to launch into your spiel.
Tell them it is nice to meet them. Inform them that you are the magician and that (insert name of host) has asked you to show them a little magic.
Do something great.
Then - LISTEN!!!!
Let me say that - again
LISTEN!!!!!!!!
Maybe that's all the magic they need. Maybe they want to talk about the guy they saw on a cruise. Maybe they want to ask you about yourself.
Respond thoughtfully.
Talk with them, not at them.
If it seems appropriate, do another trick.
If not, excuse yourself, tell them you will be around all evening, and introduce yourself to the next group.
If you do a good job they will talk you up to their friends.
You want them to think of you as charming, professional, and competent.
Oh:
Wear a nice suit
Shine your Shoes
Don't wear too much cologne
Make sure your cards are clean and the box isn't tattered
And most important:
Breathe.
Brad Henderson