Slang term used to describe something as "fancy", "upmarket", "glitzy", "better", "new" etc.

Term is used loosely and has no lower monetary limit. Can be used to describe something slightly better than what you have.

Used both as a term of endearment, exclamation and derogatory statement.

Derogatory Statement

Fuck, bro. Look at that flash cunt.

Exclamation

Check it out! Pretty flash eh?

Endearment

Yeah, it's flash as. It's fuckin' mint, bro.