The concept of the selfobject was central to Heinz Kohut's psychology of the self. With an eye to studying the development of narcissism and its implications for the growth of new psychic structure, this concept is reviewed and reassessed. Post-Kohutian complexities regarding its definition and use extend our consideration of the development of narcissism beyond archaic configurations toward further evolution of the self and the nature of mature narcissism. The hypothesis is offered that developing narcissism and the growth of self-regulation impact the acquisition of new structure and new capacities through the emergence of newly potentiated aspects of the self. The implications of these emergent qualities of the self are examined in the context of our understanding of self-esteem regulation, the state of the self, and the goals of psychoanalysis. A clinical example illustrates how technique and process in an analysis may be organized around the development of such new capacities.