If this painting were for sale, you’d have to pay millions to acquire it.
And yet, when it first painted, you could have paid just a few thousand dollars to own it.
What happened? Did the painting change? Is it a better painting today than it was?
What about the Shelby Cobra knock offs you can buy on eBay for $50,000? These are totally awesome cars, insanely fast and in many ways better built than the real Cobras, which are worth five or ten times as much.
Obviously, we’re tweaking on the words “real” and “value” here. If all you’re buying is a car, or excitement or the jealousy of your neighbors, the knock off is just fine. But that’s not all that people buy. Mostly, they buy a story.