If Obama's inauguration committee takes a less extravagant approach, it wouldn't be the first time.
Inaugural history, compiled by the Senate, reveals that, in 1913, incoming president Woodrow Wilson squashed the idea of an expensive celebration.
"Not every president had a ball," Lichtman said. "Woodrow Wilson, who was very austere, didn't want to have an inaugural ball."
President-elect Warren G. Harding concurred in 1921, instead attending a private party at home. Presidents Calvin Coolidge, Herbert Hoover and Franklin D. Roosevelt followed suit, opting for charity balls instead of over-the-top affairs.
Inaugural balls regained momentum starting with President Harry Truman in 1949. With the exception of President Jimmy Carter, who called for a $25 maximum on ticket prices in 1977, the tradition has snowballed since. In that time, the number of official balls has also increased -- from one on Truman's watch, to five on President John F. Kennedy's, culminating with 14 in 1997 for President Bill Clinton.
Bush reduced that number to eight balls in 2001 and nine balls in 2005.
Lichtman said an expensive affair is "not the people's ball." But he cautioned that throwing one in earnest could present a serious problem. Case in point: The inauguration of Andrew Jackson in 1829.
"He threw open the White House to the public," Lichtman said. "That was the last time anyone tried to do that kind of a celebration."