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Luxury

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Definition: - a material object, service, etc., conducive to sumptuous living, usually a delicacy, elegance, or refinement of living rather than a necessity: Gold cufflinks were a luxury not allowed for in his budget.

Luxury can refer to several things:

  • Luxury good, an economic good for which demand increases more than proportionally as income rises, contrast with
  • Luxury tax, a tax on products not considered essential, such as expensive cars
  • Luxury tax (sports), a surcharge put on the aggregate payroll of a sports team to the extent to which it exceeds a predetermined guideline level set by the league
  • Luxury vehicle, a relatively expensive automobile
  • Luxury yacht, a very expensive privately owned yacht which is professionally crewed
  • Luxury real estate, a niche real estate market dealing with the highest economic group of property buyers
  • Luxury resorts, which are very exclusive vacation facilities
  • Luxury box, a term for a special seating section in arenas, stadiums and other sports venues
  • Luxury magazine, a magazine devoted to fine craft

Also: