In a world that is obsessed with luxury, critical luxury studies is a rapidly emerging field. This is the first book to explore the interplay between the real and imaginary realms of luxury, considering the most significant developments in the theories and practices of luxurious places and spaces over the last fifty years. Providing a critical approach to contemporary interpretations of luxury, the book interrogates the distinction between real places and imaginary spaces. Bringing together an interdisciplinary group of leading scholars, it features a range of case studies which take the reader from the Rolls-Royce Ghost Black Badge to expressions of sensuality in the 1970s domestic interior, and global conceptions of fine wine and art. The Third Realm of Luxury considers the interplay between luxury and space in both the past and the present, examining the abstract conception of excess and exoticism, as well as the real locations of the home, hotel, apartment, and palace. Full of original research, it is a key contribution to the study of consumption, design, fashion, and architecture. Nowadays, luxury plays a relevant role in shaping urban identities, linking international trends and local contexts. The book explores the influence of luxury on the perception of a set of spaces, on the behaviors of their inhabitants and on the transformation of several cities.