This paper is aimed at understanding a luxury product’s value. The luxury market is a really special market, with different rules and a different logic than other markets. Customers are not only looking for useful or efficient product, but for quality, scarcity and well-valued products. Noriaki Kano and its studies on a product’s characteristics allows us to understand widely the customer’s satisfaction. However, in the luxury market, this satisfaction seems to be more complicated to implement. A Micro economic analysis of the luxury market helps us to understand specificities of the market, and ways to improve a luxury product’s value.