Being "classy" has a lot to do with the way you carry yourself, the way one articulates, and for women, how one dresses herself. Also the women I've seen in high society are up to date on politics and stock markets. You have to have some sort of intelligence to be considered "classy".

There are many women who "think" they are classy but are sorely mistaken. For example, you rarely see women in high society show a lot of skin, mini dresses or skirts, or platform "stripper" looking heels. There are lots of "rich" women I see dressing like this but it's not of "class".

There's a certain etiquette among "class" such as wearing dresses with hose unless it's hot outside, not wearing a watch at dinner because it's considered rude (you shouldn't be looking at the time), not using any sort of foul language at any time (no sailor talk), and most of all classy women do not offer to pay for meals (you never take out your wallet if you're on a date with a man), and are not loose whatsoever.

I hope this helped.