Posted by Leonard Steinberg on February 11th, 2013

Hermes posted its 4th quarter results for 2012: the maker of uber-luxury, hyper-priced fashion goods and accessories showed sales increased 22%. Rolls-Royce has achieved its best sales in its 108-year history, with the world’s mega-rich buying up 3,575 Phantom and Ghost models during 2012. More evidence that the very wealthy are spending more and that there are more of them. The super-luxury Manhattan real estate buying frenzy that is taking place right now with rising prices further fuels my argument that the luxury market is experiencing inflation at a much higher rate than ‘regular inflation’……as the world’s economies grow producing more wealthy consumers, this trend is very likely to expand: What is luxury after all if EVERYONE can afford it?