New forms of luxury consumption in the sharing economy

•Traditional tenets of luxury are challenged by new forms of luxury fueled by the sharing economy.•The notion of temporality associated with new forms of luxury presents new opportunities and questions ownership as the ultimate form of luxury.•Two types of luxury sharing are distinguished: simultaneous and sequential – each with its own characteristics.•Three drivers of luxury consumption are identified, namely value hedonism, hedonistic egoism, and hedonic escalation.