The purpose of this study is to examine consciousness of purchasing fashion luxury and to investigate the extent of post-purchase satisfaction among young college students. 400 consumers living in Daejeon were surveyed for the purpose. We used, for a data analysis, descriptive statistics, frequency and ANOVA. The results are as follows: 1) There were significant differences in consciousness of purchasing fashion luxury by demographic variables, such as sex, age, and major. Females with a clothing & textiles major marked higher scores in both interest and preference for fashion luxury. They regarded it as the goods with high price, high brand, and high quality. 2) One of the best items of fashion luxury goods was a watch for the students. Cosmetics was also one of them. Yet, the students were unsatisfied with shoes, bags, apparels, sunglasses, cosmetics, and accessories. 3) Most of college students were willing to purchase bags. The purchasing motives of fashion luxury were to be self conspicuousness, self satisfaction and fashion brand image. 4) Well-known luxury brands were Channel, Gucci, Louis Vuitton, Burburry and Prada. They were also preferred.