The best gifts are a departure from the usual ho-hum useful stuff. Instead, they have a touch of the fantastic: otherworldly splurges that we’d never think to buy for ourselves. As luxury is more a state of mind than a concrete price tag at the Cut, there are items here that ring in at less than $50, but still have that luxurious, dream-come-true feel. Take, for example, the Japanese cast-iron teapot ($31), which goes perfectly with Margiela’s trompe-l’oeil wall print. Or grab the framed swallowtail butterfly ($40) to go with a geode-and-diamond necklace, and pair the silk eye mask ($35) with gold-threaded suede monogrammed slippers for the best night’s sleep ever. However you do luxury, click through the slideshow ahead for dozens of beautiful, luxurious gifts you’ll want to give (or receive) this holiday season.