Marketing and Hype
The high prices are not just a result of intrinsic value; they are also a product of expert marketing and media hype. Auction houses and celebrities carefully publicize these sales, creating a media frenzy that builds excitement and drives up bids. The story behind the item—its provenance, the event it was worn to, the celebrity’s personal connection to it—is meticulously crafted and disseminated to create a narrative that makes the item feel more valuable. This calculated hype plays a crucial role in the final auction price.
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