A phrase used to announce your love for something by saying that it is a classic--something so good that it transcends time. (this is likely hyperbole, but the phrase is still quite catchy)
Two people are conversing:
Person 1: Man! We had a wild night! <explains night>
Person 2: That's Classic!
Person 1: Man! We had a wild night! <explains night>
Person 2: That's Classic!
by ChrisMikGee September 01, 2010