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RE: A pair of basketball shoes from Michael Jordan auctioned for over $ 190,000

in #money8 years ago

It is amazing that items like these go for so much money. In the past I thought it was rediculous. But it is actually economics 101 at work. Supply is fixed at 1 due to the uniqueness of the item. And demand is in this case high, very high.

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I would never pay such an amount of money to shoes. But that is probably because i have no money. :D

it is actually the legacy of mj determine the price...