Is any hat worth $75,000. ???

fedoralover · Jan 27, 2007

Well apparently this one is, it belonged to the "Duke".

http://cgi.liveauctions.ebay.com/34...002QQitemZ120073658678QQrdZ1QQsspagenameZWDVW

fedoralover

vonwotan · Jan 27, 2007

I suppose it is worth whaterver a buyer is willing to pay. Although, this always causes me to wonder about the "rational" self interest we dicsuss in economics. Is it rational or reasonable to value a common object based purely on by whom it was owned?

happyfilmluvguy · Jan 27, 2007

It doesn't look like it has a "proof of authenticity". If I paid that much and it turned out to be a fraud, I'll kill a man.

I think it depends on the object. If it's a toilet that was in the restroom of a movie star, I don't think I'd want it. Also could depend on the meaning it had. Let's say Scarlet O' Hara's velvet green costume (which was on display at a Planet Hollywood restaurant in Beverly Hills anyways), or Marilyn Monroe's famous white dress, or the red one in "Gentlemen Prefer Blondes". Even Humphrey Bogart's hat in Casablanca. Those were just wardrobe when they wore them but their actual value of what it was featured in and by whom it was worn makes it more valuable. I wouldn't say this hat was worth the money, but obviously it was to this winner. And a rich winner at that! No more car payments for a while.

"I sold my home, my car, my kids, my wife and my pants! But I do have this neat old hat that was worn by John Wayne!"

Pilgrim · Jan 27, 2007

To me, if it doesn't have a door, a bathroom and you can't live in it, it's not worth $75,000. That includes cars (no bathrooms).

Mr. Lucky · Jan 27, 2007

Gee, I wonder if that included postage and handling...

J.B. · Jan 27, 2007

Mr. Lucky said:
Gee, I wonder if that included postage and handling...

...Apparently no.

OR the 20% "Buyer Premium"...! :eusa_doh:

reetpleat · Jan 27, 2007

fedoralover said:
Well apparently this one is, it belonged to the "Duke".

http://cgi.liveauctions.ebay.com/34...002QQitemZ120073658678QQrdZ1QQsspagenameZWDVW

fedoralover

It is hard for us to realize that for some people, money is really no object.

If Bill Gates was into vintage clothes or western wear and wanted that hat, do you think it would matter if it cost $75K or $100K?

Although I am not that big a fan of the duke and that hat doesn't really do it for me. But a John Wayne cowboy hat does have a certain iconic quality. If it were a fedora or sportcoat worn by him, that would be less of a big deal. But imagine wearing cowboy boots or a cowboy hat owned by john wayne. Pretty fun.

Razzman · Jan 27, 2007

Some people have money to burn. The last time I was in Las Vegas I watched a gent play Baccarat for $5000.00 a hand. This fella was there for hours. For some it's disposable cash. One thing for sure, I'll never know the feeling.lol

Tony in Tarzana · Jan 27, 2007

Razzman said:
Some people have money to burn. The last time I was in Las Vegas I watched a gent play Baccarat for $5000.00 a hand. This fella was there for hours. For some it's disposable cash. One thing for sure, I'll never know the feeling.lol

Did he order vodka martinis? Shaken?

Dinerman · Jan 27, 2007

Is any hat worth $75,000. ???

Um. . . NO.

Feraud · Jan 28, 2007

With 43 bids in, I say many people thought the hat was worth a lot of money.

I do not see that many bids on hats we think are "all that".

vonwotan · Jan 28, 2007

Which brings me full circle in my musings. An object is worth whatever buyers are willing to pay. Like commodities sold in an open outcry market, or any form of auction, the "heat of the moment" may have some impact, but the more bidders the more likely the final selling price will be the "fair value." To each his own...

thetankw/ahat · Jan 28, 2007

i'm not sure if you noticed but this was a live auction where an ebay rep went to the auction and bid on the item for you up to a certain amount. it jst seems weird that it went for that high but from the pictures they had it looked like he wore it quite a bit. course in the pictures it just looks like he's wearing a white cowboy hat cant really tell if its that same one or not.

The Wingnut · Jan 28, 2007

Going against the old saw about 'what the market will bear', just because someone's got the money to pay an outlandish price for something doesn't mean that's what it's worth.

In this case, the person paying $75,000 for one of John Wayne's hats isn't paying for the hat. They're paying for John Wayne, his legend, the bragging rights and everything else that comes along with possessing something that belonged to such a person. They'd pay the same for a gun, saddle, jacket or car that he owned. It's not the hat, it's the history.

The hat is worth what any other 6X Nudies Steson with a sterling band of that vintage is worth, probably around $500-$1000, although I'm no expert.

I once saw someone trying to sell a '66 Chrysler New Yorker in good original condition for $66,000. It's a $14k car in mint factory condition. He probably eventually found someone that would pay it because they had one as their first car and had that kind of expendable income...not because it was worth that much. Even though it might have sold at that price, that doesn't make every other '66 New Yorker in the same condition worht the same amount...it just means some goofball had too much money to throw around, and met another goofball willing to take it from him.

An object is worth whatever buyers are willing to pay...to them.

vonwotan · Jan 28, 2007

Wingnut - Agreed. For memorabilia like this, it is what that object represents that gives it value, not the materials or even the maker's labor. As with all such memorabilia, the provenance or history are what the bidders are buying.

This is why I frequently ask myself whether rational self interest, or the reasonable man we discuss in economics is always the driver behind prices. And why I believe that there are inefficiencies in the markets that allow for short term dis-equilibrium. The madness of the crowd can drive prices up or down in a reactionary manner before they come back to some more reasonable level. If the auction were held on John Wayne's birthday you might see more, and more ardent bidders. After time has passed, perhaps not?

budward · Jan 28, 2007

I agree with Razzman and his Vegas observation. "Worth it" is a matter of perspective. For most of us, no hat would be worth $75K, but then (for me anyway) the question is academic because I never could pay that kind of jack anyway. There are folks who are flown to Vegas on their own jets, and leave 2-3 million in a weekend, and they'll be back in a few weeks to do it again. If money is like water to someone, then what's the big deal about $75 grand for John Wayne's hat?

Budwin

Wconly · Jan 28, 2007

To quote 'Indy'....."...it belongs in a museum!" Icon images....collectables and items, such as this hat, are a product of the public who paid good money and provided loyalty to said....."....it belongs in a museum!" Just my two cents! W>

Baron Kurtz · Jan 28, 2007

that price can hardly be regarded as "for the hat". That is all about paying for a piece of history. The boots would go for that also. Whether the artefacts of a miserable actor are worth this much is the real question.

'Course, it's a Nudie too, so they always - for some inexplicable reason - go nuts in price too. I have yet to see a nudie suit that is not garish and OTT hideous.

$75,000 is silly for a hat your going to wear. I suspect this one will not be getting worn.

bk

DeSica · Feb 2, 2007

Pilgrim said:
To me, if it doesn't have a door, a bathroom and you can't live in it, it's not worth $75,000. That includes cars (no bathrooms).

:eusa_clap

Classic

....what about a car that smells like a bathroom? (like a cab or two I have had the displeasure of riding in)

cookie · Feb 17, 2007

Taxis as Toilets

You must have been travelling around Sydney late at night? Talk to my mates who drive cabs.

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