New Horizons

WHAT IS LUXURY? These days that's the question that inspires luxury-goods purveyors as this increasingly competitive business heats up for the holidays. There are the obvious untouchable luxuries, such as the stunning pearl-and-diamond Chanel brooch that graces our cover or the $172,425 limited-edition Montblanc pen smothered in diamonds. Hey, how about a $49,500 handmade Vividus bed from Sweden? Some luxuries are priceless. A quick poll of peers would probably reveal that most people consider time to be their greatest indulgence, especially in this age of 24/7 mobile communication devices. Others might list dream destinations where they can disappear (and turn off...

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