that each one of you know how to possess himself of his own vessel in sanctification and honor,
The excuse for such a translation derives from the double meaning of two Greek words in the passage: (1) possess, which in classical Greek is sometimes used in the sense of acquire; and (2) vessel which is capable of meaning either wife or body.  The English language has many words with double meanings, as well known to all; but the fault in the RSV derives from their adoption of meanings which would make Paul advocate a low view of marriage in which the wife is the property of her husband!  This is contrary to everything in the New Testament.  This is an extensive field of study, and we shall concern ourselves here with giving our reasons for preferring the KJV, ASV, the NEB and many other reputable renditions instead of the aberration advocated in RSV.