Hoda Esphahani
Principal, Objet Éternel
One can say luxury is the state of extreme comfort, wealth,
a prestigious lifestyle, acquisition of the most expensive things in the world
— having private jets, boats, houses, and the most costly artwork and jewelry.
This was the definition of luxury in the past. However, the
world has changed, and the internet and communications today make all that
opulence and way of life accessible to all our eyes. I cannot deny that having
wealth does free you from worries, and that is a form of luxury. But the majority
of us don’t have that affluence in life. We have to make our lives luxurious.
It is a state of mind.
Luxury is being knowledgeable, having great worldly
experiences, enlightenment, elegance and style. It is having an abundance of
wisdom and an appreciation of life and time, which are the most precious things
we have, and it’s up to us to make it luxurious.
Eddie LeVian
CEO, Le Vian
Luxury is all about the experience that you have when the
luxury providers believe you are special and put in the quality, the service,
the exclusivity and the rarity to make sure the consumers of luxury
feel
special. It’s that simple.
Providers of luxury have to think out of the box in terms of
how they deliver luxury, because traditionally, luxury has meant limiting access
to it, providing exclusivity in an artificial way, to make sure not everyone
can get it. My perception of luxury is that it can be democratized and
available to a larger audience. People deserve to be able to enjoy luxury, so
it’s less about limiting access than delivering a special experience. To
accomplish this, we strive to build the world’s most beautiful and desirable
jewelry, using gems and diamonds we believe will one day become extinct, such
as the Chocolate Diamonds from the Argyle mine, and making our designs
available and affordable to all Americans.
Barry Lustig
Vice president, The Gordon Company
Luxury cannot be defined by price alone. Luxury is what you
gain by using the finest-quality materials, premium craftsmanship and
extraordinary attention to detail. When you have those characteristics,
consumers will recognize the difference. Higher-end products are not exclusive.
Instead, they are about showing value. Luxury items are ways to enhance our
everyday lives. All watches will keep the time, and any car will get you from
place to place. But when you strive to want more than just functionality — and
want to step it up to the highest level — you begin to enter a world of luxury.
Everyone has their own personal definition of what luxury means
to them. Today, with more choices at your fingertips, you want to put your
trust and dollars with products and even service companies that adhere to those
same goals.
Jean Ghika
Global director of jewelry, Bonhams
The definition of luxury is a bit of an enigma. It can be
defined in so many ways, depending on your age, income bracket, gender, and
also your outlook on life. One person’s luxury may be an experience, another’s
may be a sentiment.
Today, luxury is no longer just about scale and opulence;
the story associated with an item or experience matters, too. For example, a
number of Bonhams’ clients equate luxury to the very finest craftsmanship,
something totally unique and extremely precious.
These trends are clear to see in the jewelry market at
auction — whether in the world-record price achieved recently at Bonhams for
The Hope Spinel, part of the esteemed collection of gemstones belonging to
Henry Phillip Hope, or in the gold Schlumberger bracelets belonging to
Hollywood actress Lauren Bacall. Both were exceptional quality and had an
alluring story, which in turn made them unique. Surely the height of luxury?
Article from the Rapaport Magazine - March 2018. To subscribe click here.