More or less literally, raising one's eyebrow in disdain. Often this is combined with raising the nose and chin as though smelling or seeing something offensive. Used to express contempt and superiority.
Lord Cyril expressed his low opinion of Reggie's Socialist rant with a supercilious sneer.
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A supercilious phrase, meant to say that the speaker is so much richer (and, by implication, cooler) than the hearer that the second person's opinions/possessions/whatever fail to matter at all.
Why, you insufferable poser, I could buy and sell you!
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