The term classy now a days ,how ever, is normally used in a sarcastic form, seeing as how the image of class over time has deteriorated completely but can still be seen as a compliment or a funny joke.
Guy: So what's up?
Girl: Just eating grilled cheese and watching mr.woodcock
Guy: You've got class
Guy 1: Yeah, she was wearing an extremely tight skirt and it's practically freezing outside. What a slut.
Guy 2: No way man! Tight skirt automatically means she's classy!
Also used to refer to people or styles from the past; when copied, general impression of others upon seeing them is "classy", a reference to all things classic or that have class.
2. They all agreed that the man who paid unwavering attention to his escort and stayed by her side all night had an unprecedented amount of class.
3. Audrey Hepburn.