Page 2 of 2

Sharing Economy

This is as good an instruction manual as any for a modern interpretation of luxury: no excess, but exactly the right amount is the goal. Thanks to modern technology, it's not necessary to actually own every last piece. The ballgown of your dreams can be lent from an online rental service, as of course can automobiles. Savvy owners of wine cellars are considering how many bottles they actually will drink and consulting online wine brokers to auction the rest.

These new economic forms of sharing and renting require excellent craftsmanship of products – precisely the definition of luxury. Longevity and sustainability have their price. Or as a good friend put it while shopping: «I'm too poor to afford cheap shoes.» How right she is!

Technology-Driven Luxury

Viewing a breathtaking exhibition outside of a nearby museum? Top institutes are offering a peek online, and with good camera work, the experience of seeing a painting or sculpture can be even more relaxing when you don't have to jostle with other viewers.

And even if an opera evening is a special experience: cinema or screen adaptations at home of Richard Wagner or Giuseppe Verdi with a glass of red wine are just as enjoyable. And of course, we love Venice and the Biennale of fine art – but it isn't always possible or sensible to travel to Italy. To accompany the curator of the art show's 58th edition, Ralph Rugoff, on a tour through Giardini and Arsenale on-screen is an experience to be savored and heightens anticipation for the next in-person visit to Venice.

Luxury-Producing Families

Thinking in terms of generations and not quarter for quarter is what defines most family-owned companies – and a host of the most interesting luxury producers in the sense of craftsmanship are still owned by families. The finest, clear glass is produced by the eighth generation of Lobmeyr's in Vienna and offers clients the luxury of buying and replacing glassware even decades later. Peter Thonet has produced the legendary Thonet chair, synonymous with coffeehouse tradition, in Germany's Frankenberg for generations. Carpets made byJan Kath remain sought after.

We should want more luxury at this level of quality, with this skill and craftsmanship, and with this sustainability and durability, and not less.

Karin Klossek has worked in Frankfurt, Auckland, Sydney, and London. She focused on fashion, financial services, and health industries with an emphasis on branding. She has recently launched GloriousMe.Net, a lifestyle website, together with Maike Siever.