There are two types of luxury: inferior (financial) and superior (horological).
The first requires money. That is all. This is inferior luxury. Anyone with a wallet can obtain this sort of luxury. This kind of luxury is not necessarily related to enjoyment, either; individuals can be manipulated by marketers, salespeople, and peers to try to obtain items or experiences that they think are luxurious but are not. It is also the kind most likely to be taken for granted: shortly after we obtain an inferior luxury, we start to take it for granted, and look for something else. Because of this, they depreciate in value over time – both their resale value to others, as well as the value the owners subjectively place on them.
The second type is time luxury. This is more difficult to obtain, because it requires the finite resource of time, as well as the ability – on the part of each individual – to learn and understand how best to use it luxuriously. It is distinctive, and unique to each person, and not as subject to the influences of others. It also requires a large degree of self-knowledge, which is rare. Finally, superior luxury is more likely to be appreciated and savoured and remembered decades later – even if there is no resale value whatsoever for passing time, a superior luxury will gain in perceived, subjective value as time passes.
There are plenty of people in the world who recognize and chase inferior luxury. There are fewer people who understand and chase superior luxury. People who chase inferior luxury are seen as having luxurious possessions. People who chase superior luxury are seen as having luxurious lives.