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This study will primarily focus on the rarity of the craft in future and understanding of craft as a luxury its various interpretations in the creative field. It is a consolidation of all the limited knowledge gained through the exposure to various craft sectors, ranging from studio crafts to industrial crafts done via reading writings of established authors, theoreticians as well as analyse various studies and reports that have been conducted till date. There is a lot of ambiguity surrounding the terms Craft and Luxury, what does they constitute and how are the value of the craft products affected when it is tagged as a luxury products. The topics related to craft and luxury is taken into consideration. The journey of craft and luxury since the pre historic to the present and its evolution is briefly conveyed. The concept of luxury is narrated with respect to product, building and possession. Hence the study would demonstrate the future of craft as luxury via authentic publications and studies which would help to establish a firm theoretical base.