A luxury item can be defined as a product or service that is considered to be highly expensive and exclusive and usually targeted at wealthy consumers. Luxury items often are made with high-quality materials and workmanship, are designed to be visually appealing and also offer prestige and exclusivity to the owner.

Characteristics of luxury items:

• High cost: Luxury items are typically very expensive, often costing tens of thousands or even hundreds of thousands of dollars.
• Exclusivity: Luxury items are usually limited to wealthy consumers, often through limited availability and high price tags.
• Quality: Luxury items are crafted using high-quality materials and workmanship, often using rare or unique materials.
• Prestige: Luxury items are often associated with prestige and exclusivity, and owning them can confer a sense of status and wealth.
• Rarity: Luxury items are often rare and sought-after, making them even more desirable to own.

Examples of luxury items:

• Jewelry
• Watches
• Cars
• Designer clothing
• Fine art
• Luxury cars
• Private jets
• Designer handbags
• Super yachts

Note: The definition of “luxury item” can vary depending on cultural norms and individual preferences.