Tamir Sapir made a big splash just a few years ago when he bought the Duke-Semans mansion on 5th Avenue for $40 million. This billionaire already has it back on the market for about 50 million dollars. and you thought you could flip houses!

If you decide that you want to buy this property, keep in mind that you are not only buying real estate, but also prestige. In order to own, enjoy, and resell at a premium price, you must be able to meet a few criteria: location, uniqueness, detail, and aesthetics. This is all in the realm of real estate, but it applies to many other luxury genres as well.

Luxury is not always defined by a price tag. Value may be determined by scarcity, by its own inherent beauty, or simply by the pleasure it can bring to the possessor.

Did you know that most Americans redecorate their homes every seven years? If your seven years are past, keep in mind that the trend now is to buy everything from clothes to diapers on consignment. Famous designers are now touting ever higher prices for older finds. Out with the old and in with the old! Antiques, vintage and reproductions have made a permanent comeback. When, not if, you decide you’re tired of your home environment, think carefully about selling your existing furniture and furnishings. Certainly don’t throw it away. Turn it around and finance your next style change.

This is, of course, why wise people buy quality in the first place. When it’s time for a change, you may already be sitting down or using everything you need to have a pretty good starting budget for your new look. Beauty and luxury are not just for the rich and famous. They are for all those who value their life, their environment and want to bring beauty to what is useful.