When:
Lookups spiked on April 18, 2012.
Why:
The word was used in media reports describing a 17,500-square-foot mansion that will probably be sold off for a fraction of its original $87 million valuation.
According to Reuters, "This empty, never-sold, soon-to-be-auctioned mega-mansion is a gaudy symbol of the runaway extravagance that gripped the top end of the U.S. real estate market before the housing crash of 2008."
Gaudy means "marked by extravagance or sometimes tasteless showiness." It comes from the Latin word for "joy."
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Merriam-Webster unabridged