Value, Worth and Cachet

The Sasoon Codex recently fetched $38.1 million. It is a priceless relic because it contains perhaps the oldest complete draft of the ideas that altered the course of human history. Is its worth nevertheless perverted given the kingly sums that those fortunate enough to have amassed unfathomable wealth have offered for decidedly more trivial articles of historical interest? Is Michael Jordan’s 1992 Olympic jersey worth one-thirteenth as much of a piece of history? Is a Giacometti sculpture worth three times as much? Is a Picasso painting worth five times as much?

It is among the great ironies of modern times that the rich and powerful who are driving these perverse auctions are the same people who incessantly complain about the perversion of values. None of the things they do outwardly shows that they possess any grasp of the concept of value. The megaphones of the mainstream media are clearly in the wrong hands. 

A jersey worn by basketball star Michael Jordan while representing the United States during the 1992 Summer Olympics was sold at auction for $3.03 million on Thursday.

Source: Michael Jordan Olympic jersey fetches over $3 million at auction

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