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Douglas Harper's Etymology Dictionary
sic transit gloria mundi

c.1600, Latin, literally "thus passes the glory of the world;" perhaps an alteration of a passage in Thomas Á Kempis' "Imitatio Christi" (1471).

Wikipedia
Sic transit gloria mundi

Sic transit gloria mundi is a Latin phrase that means "Thus passes the glory of the world." It has been interpreted as "Worldly things are fleeting." The phrase was used in the ritual of papal coronation ceremonies between 1409 (when it was used at the coronation of Alexander V) and 1963. As the newly chosen pope proceeded from the sacristy of St. Peter's Basilica in his sedia gestatoria, the procession stopped three times. On each occasion a papal master of ceremonies would fall to his knees before the pope, holding a silver or brass reed, bearing a tow of smoldering flax. For three times in succession, as the cloth burned away, he would say in a loud and mournful voice, "Pater Sancte, sic transit gloria mundi!" ("Holy Father, so passes worldly glory!") These words, thus addressed to the pope, served as a reminder of the transitory nature of life and earthly honors. The stafflike instrument used in the aforementioned ceremony is known as a "sic transit gloria mundi", named for the master of ceremonies' words. A form of the phrase appeared in Thomas à Kempis's 1418 work The Imitation of Christ: "O quam cito transit gloria mundi" ("How quickly the glory of the world passes away").

Emily Dickinson used the line in a whimsical valentine written to William Howland in 1852 and subsequently published in the Springfield Daily Republican:

''Sic transit gloria mundi

'' How doth the busy bee,

'' Dum vivimus vivamus,

''I stay mine enemy!

This parodied her education by its use of stock phrases and morals.

Usage examples of "sic transit gloria mundi".

Let's see how much we can scrape together, maybe we can buy back five hundred copies, and for the rest, sic transit gloria mundi.