Loving Lobster on the Cheap

A lot of people think that lobster is pretentious -- but why? With the economy recovering from its low point this year, the price of lobster has dropped, and is now quite accessible.

But how can you take lobster down a couple notches for your table?

"The Early Show" 's resident chef, Bobby Flay, showed on Thursday how to make his favorite casual recipes, from seafood cocktail to lobster club sandwiches, that feature this surprisingly recession-ready shellfish.

Bar Americain's Lobster & Avocado Cocktail

Serves: 4

1/2 cup fresh lime juice
2 teaspoons honey
2 tablespoons prepared horseradish, drained
1 tablespoon Worcestershire sauce
1 teaspoon Tabasco sauce
1 tablespoon chopped tarragon
Salt and freshly ground black pepper
One 2 lb lobster, steamed, meat removed and coarsely chopped
1 ripe avocado, peeled, pitted and diced
1/2 cup chopped watercress

Whisk together lime juice, honey, horseradish, Worcestershire, Tabasco, tarragon and salt and pepper in a medium bowl. Gently fold in the lobster, avocado and watercress. Divide among four martini glasses.

Lobster Club with Green Onion Dressing, Crispy Ham & Arugula

This isn't the club sandwich of your youth or the lobster roll from your favorite beachside shack in Maine. You can use a good quality white Pullman bread or really pull out all of the punches and serve it on Chipotle Brioche.

Serves: 4

Crispy Ham
1/4 cup pure olive oil
4 slices thinly sliced country ham

1. Heat oil in a large sauté pan over high heat until oil begins to shimmer.
2. Carefully add 2 slices of the ham at a time and cook until crispy on both sides.
3. Remove to a plate line with paper towels.

Green Onion Dressing

1/4 cup white wine vinegar
3 tablespoons mayonnaise
2 teaspoons honey
1/4 cup canola oil
1 green onion, green and pale green part, chopped
Salt and freshly ground black pepper

Combine the vinegar, mayonnaise, honey and oil in a blender and blend until combined and season with salt and pepper. Add the green onion and pulse a few times just to incorporate…not to puree, should be specks of green in the dressing. Scrape into a bowl.

Lobster Salad

1 cup prepared mayonnaise
2 tablespoons fresh lemon juice
1 tablespoon Dijon mustard
1 tablespoon whole grain mustard
1 small stalk celery, thinly sliced
2 green onions, green and pale green part, thinly sliced
1/4 cup finely diced red onion
1/4 cup finely chopped fresh flat leaf parsley
Salt and freshly ground black pepper
1 1/2 pounds fresh lobster meat, chopped
1 1/2 cups baby arugula
8 (1/2-inch) slices of Pullman bread or Chipotle Brioche, lightly toasted
Green Onion Dressing
Crispy Ham
Homemade Barbecue Potato Chips, optional

1. Whisk together the mayonnaise, lemon juice, mustards, celery, green onion, red onion and parsley in a medium bowl and season with salt and pepper. Fold in the lobster meat until combined.
2. Spread each slice of bread with some of the green onion dressing. Divide half of the arugula among 4 slices of the bread. Top the arugula with some of the lobster salad and place the remaining arugula on top of the lobster salad and top with the remaining bread. Serves with barbecue potato chips, if desired.

For a Lobster Potato Salad recipe, go to Page 2.

Lobster Potato Salad

Serves: 4

1 2 1/2 - 3 lb live lobster
2 lbs fingerling potatoes, scrubbed
Kosher salt
1 cup mayonnaise
2 tablespoons red wine vinegar
2 tablespoons whole grain mustard
2 tablespoons prepared horseradish, drained
1 tablespoon Dijon mustard
1 tablespoon honey
2 tablespoons finely chopped fresh tarragon
Freshly ground black pepper

1. In a large pot of boiling slated water, boil the lobster for 10-12 minutes (they will be about three-quarters done). Drain well and let cool slightly. The lobster can be parboiled a few hours in advance, covered, and kept refrigerated. Bring to room temperature before grilling.
2. Heat the grill to high or a grill pan over high heat.
3. Split each lobster lengthwise down the underside with a heavy knife, taking care not to cut through the back shell, so that the lobster is still in one piece but the inside is exposed. Brush the cut sides of the lobster with the oil and season with salt and pepper .
4. Place the lobsters cut side down on the grill and cook until lightly charred and heated through, 4 to 6 minutes.