Smoking bans may ultimately keep cigar connoisseurs from buying that next lighter or cigar cutter, but there is a group – that may or may not smoke – that is buying cigar-related items aggressively. Collectors are being drawn to antique smoking-related items, even if their use has become less popular over the past several decades.

Pipes, ashtrays, cigar boxes and cigarette dispensers are on the list for this subculture. Others are drawn to packaging and advertising, scooping up old cigar bans, boxes of matches, in-store ads and other forms of "tobacciana." Some are even quite expensive.

So, when your kids get on your case about the stack of empty cigar boxes in the living room, just tell them that's how they'll get through college ... if they're lucky.

[Photo by Steve Zak]

One thing I've learned after spending time with serious watch collectors is that their obsession is only limited by their wallets or what their spouses might let them get away with. For serious Piaget aficionados there is the Piaget Collector's Trunk created by luxury trunk maker Pinel & Pinel. It is made of poplar wood covered with cowhide with palladium-electroplated brass with mirror-polished finish. It holds 51 watches and there is a movement integrated into the center window to wind automatic watches. It comes with a travel case that holds three watches. "Essential collector's tools" and a remote control to switch the lights inside on and off are also included. It is available in 20 different colors of leather for both the inside and the outside and can be personalized with an engraved plate. Custom trunks take three months to create.

The most valued luxury, according to a recent survey, is something most of us crave: time. That's just one of the findings of a report released by the Consumer Research Center of The Conference Board. All around the world, luxury consumers have similar definitions of luxury. Lynn Franco, Director of The Conference Board Consumer Research Center says that "The largest share of luxury consumers (44%) and the largest share of consumers in each country most strongly agree that 'luxury is having enough time to do whatever you want and being able to afford it.' So, for luxury consumers worldwide, time is the ultimate luxury."

What do people want besides time? Life experiences, followed by comfort, beauty and quality. No surprise then that travel is one of the most valued pursuits, second only to "high-tech" activities such as using a personal computer and other gadgets. As we saw with another survey recently, when luxury consumers collect things they often by things that might be an investment such as collections of antiques and rare items; original art, paintings and sculpture and a vacation/second home. Other prized collections include watches and jewelry, fine wine and musical instruments.

The differences across cultures were not too surprising. Americans are most interested in television, pets, fitness and electronics. British consumers are interested in Internet and cell phone usage, videos/DVDs, wine and gourmet goods among other things. Germans enjoy reading books, attending cultural events, gardening, and home furnishings. Italian consumers share many of the same interests as those in Germany, but they are more active in travel. French consumers are also similar but with a bigger interest in in gourmet food and wine. China has the greatest interest in photography, electronics, and home furnishings.

What is the definition of luxury for those who are dubbed luxury consumers? For most luxury is defined as being noticeably a cut above the average. The cost is not as important as the experience and feelings that consumers get in enjoying their luxury lifestyles.. Luxury is being able to pursue one's personal passions and interests. For most luxury is not about conspicuous consumption although they do look to a brand's reputation as a sign of quality. It is no surprise that the only country in which a large part (46%) of consumers believe luxury is defined by the brand is China.

And attitudes toward brands are shifting. A new book set to come out, Deluxe by Dana Thomas, which features fast food wrapped with Prada labels on the cover, takes on the idea of modern luxury. She profiles the European fashion houses which have evolved from companies known only to the elite few, to monster brands that sell to millions. It makes me wonder if the rise in "masstige," selling luxury to the masses, might be the very thing that compromises the luxury goods market.

CSI for your wine cellar? Well, sort of. Wine Spectator reports that Applied DNA Sciences has created a DNA-based system, called SigNature that embeds a customized botanical DNA segment into the ink on a wine bottle cork or a label. The SigNature could not be removed and therefore acts as an encrypted identification system that could help identify bottles belonging to a collector if they are stolen. It could also help verify the authenticity of bottles that are later sold at auction. The service costs about $16 per bottle to prepare and apply a marker for a 5,000- to 10,000-bottle collection, including authentication certificate and scanner but the price drops for producers who want to brand a whole vintage. The SigNature has a variety of applications including the protection of artwork by embedding a DNA signature in a certificate, receipt or sticker.