Is Luxury Defined by Scarcity or Something Else?

So I was watching a film the other day, and it got me thinking about how directors use lighting and framing to create a sense of opulence. It’s all about crafting a feeling, right? That made me wonder about luxury in real life. If something isn’t rare or exclusive, can it still be considered luxurious? For example, if a beautifully designed, high-quality item became widely available, would it lose its “luxe” appeal, or does the value come from the craftsmanship and experience itself? I’m curious to hear different perspectives on this. What do you all think makes something truly luxurious?