The New Definition of Luxury

In the past, luxury has almost constantly been synonymous with high prices. Whether they be backed by perceived, and often superficial craftsmanship, design, or quality, the greatest obstacle, and selling point, for luxury products has always been what they are selling for. But today, luxury has begun to take on a radically different definition and identity than its counterparts in previous generations. Now along with shedding the association with classy, bespoke design and sophisticated mannerisms for more casual, often futuristic inspirations, luxury has eliminated the price point obstacle for a new one, one more relevant to todays day and age: scarcity. In a world where virtually all information is at our fingertips and just as much personal expression occurs in the digital world as the physical world, the hindrances and benefits of limited resources and availability are less present than ever. To balance this equation, luxury has taken on a new form, and it is paid for with a new currency: time. While some would argue that time has always been as valuable as any currency, this ideology is more convincible than ever today, where life is lived in milliseconds thanks to the advent of the internet and the ever-connected and interconnected world it brought with it. Now, time, or more precisely dedication, is just as valuable a currency as silver or gold, and an even more valuable one when dealing with modern day luxury. Brands such as Supreme, Kanye West’s Yeezy, and others have achieved clout and household names among the ranks of Gucci and Louis Vuitton by offering new means of paying for their products in dedication. Owning and representing one of these companies products demonstrates that you did more than just spend your money on them, you dedicated time towards acquiring them, whether that be waiting in line outside a physical store, or trying-like thousands of others- to purchase them online, often to little or no avail. Money is a dying symbol, time is ever valuable, it is just as limited as gold or silver, and there is no concrete value attached to it, making it technically invaluable, and the luxuries bought with it just as much of a symbol of wealth-what kind of wealth is a different matter-as luxury bought with dollars.

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