1)

ALL OF YISRAEL ARE BNEI MELACHIM

אמר אביי רשב"ג ור"ש ורבי ישמעאל ור' עקיבא כולהו סבירא להו כל ישראל בני מלכים הם רשב"ג הא דאמרן רבי שמעון דתנן בני מלכים סכין על גבי מכותיהן שמן וורד שכן דרכן של בני מלכים לסוך בחול רבי שמעון אומר כל ישראל בני מלכים הם רבי ישמעאל ורבי עקיבא דתניא הרי שהיו נושין בו אלף מנה ולבוש איצטלא בת ק' מנה מפשיטין אותו ומלבישין אותו איצטלא הראויה לו תנא משום רבי ישמעאל ותנא משום רבי עקיבא כל ישראל ראוין לאותה איצטלא]:
Translation: Abaye said, the following Tana'im hold that all of Yisrael are princes - R. Shimon ben Gamliel, R. Shimon, R. Yishmael and R. Akiva. We already discussed R. Shimon ben Gamliel (he permits Luf and broken glass, since it is proper for princes to have ravens and ostriches). R. Shimon - a Mishnah says, princes may rub rose oil on their wounds, for they anoint themselves with it on weekdays. R. Shimon says, all Bnei Yisrael are princes. R. Yishmael and R. Akiva - a Beraisa says, if Shimon owed 1000 Zuz, and was wearing a garment worth 10,000, we make him sell it and buy something proper for himself. A Beraisa says, R. Yishmael and R. Akiva said, any Yisrael is proper for such a garment.
(a)

Why are Yisrael called Bnei Melachim?

1.

Maharal: An old Sefer says that this merely comes to explain "Banim Atem la'Shem Elokeichem" and "Bnei Kel Chai." Yisrael are Bnei Melachim, and not sons of the 10 rulers among the stars, and not Bnei Sarim and Moshelim - "Ki Chelek Hash-m Amo."

(b)

What is the meaning of 'princes may rub rose oil on their wounds, for they anoint themselves with it on weekdays'?

1.

Rashi: They may anoint their wounds with it on Shabbos, and we do not decree due to grinding ingredients, since they anoint with it on weekdays even when they have no wound, so it is not evident that it is for Refu'ah.

i.

Rav Elyashiv: Because they anoint with it for pleasure, even if they intend for Refu'ah on Shabbos, it is permitted, for it is like a food that healthy people eat. If a poor Yisrael does so, even though it is clearly for Refu'ah, since he is a Ben Melech, it is considered that he does so for pleasure, and it is permitted.

(c)

What is the consequence of 'any Yisrael is proper for such a garment'?

1.

Rav Elyashiv: Surely, it is proper that he pay his debt, if not with money, at least with Shaveh Kesef, even the expensive garment itself. Beis Din cannot take it for him, for it is considered proper for him.