Not sure what standard that they are using but I know luxury when I see it, and I make sure to see it in my homes as I am sure you do too Mike.

Mike,

It is in the eyes of the beholder to some degree.  Objectively speaking, the luxury home has aethetics, function and form.  There is a big difference between a MacMansion and a true luxury homes.  Finishes, crafstmanship, privacy, and a floor plan that makes sense.  

We were invited to visit a 21 million dollar yacht, and I was impressed by the finishes (rare woods), well crafted everything piece of wood was matched, the engine room was gorgeous.  We were even offered a million dollar commission if we had a buyer...  A friend of ours who owns a yacht and has them custom built, visited the yacht also.  I asked her what she thought, and she gave me a laundry list of what was wrong.  She did like the engine room.  

If something at a lower price has aethetic appeal, function, and great form, yes it is luxury.  However, there is so much fake luxury out there branded with fancy names, that are an insult to the locale whose name they are using.  A

I do believe it is in the eye of the beholder.  There are homes that some people believe are their dream home but would have been a starter home for others.

I am fortunate enough to deal in almost all price points and I see this every day.

I think their is a price for each market.

Eye of the beholder, but that can encompass all of what you mentioned.  I have mid priced listings with high end finishes.  That gives a bit of luxury in the price range.

Now for me, luxury means the house comes with a maid, a personal chef, a massage room and a fully equipped bodybuilder gym with floor-to-ceiling windows, a killer sound system for lifting and a TV for cardio.  Views and a nice yard are a bonus!

A lot of times "luxury" is something just beyond your means but in homes it starts with grand. At a certain price point many "luxuries" are expected and if not included have a huge negative effect. There is also the trending luxuries but thats another paragraph.

To me the price point is the first indication, then all the upgrades inside, and of course location.

Luxury to many is paying for a home near the top of their income.

IN the eye of the beholder...What some feel is luxury may be way beyond others thoughts.

Mike we have so many degrees of' luxury homes' here in the valley of the sun. It is in the eyes of the buyer what says 'luxury' all over it.

Absolutely, luxury is found in nearly price point and is definitely in the eyes of the beholder.