Sunday, July 23

Pants of the Rich and Famous

Maybe you saw this article on the price of the winning bid for Hugh Jackman's jeans in the San Fransico Chronicle? But, if case you haven't seen the results of the jeans auction that took place at a "Jeans for Genes" fundraising event for the Childrens Medical Research Institute in Sydney.

Jackman's old jeans fetched $22,476, more than twice the winning bid for Nicole Kidman's jeans, which went for $8,200 and model Megan Gale's, for $7,500.

I mean, I'm impressed... don't get me wrong. But I feel like the donors might not have been aware of the other celebrity swag being auctions by other charities... and therefore the true price of celebrity junk had was not reaching its fair value in an efficient market.

What if the donors to the Childrens Medical Research Institute in Sydney would have been told that for the same $22,000 they could have bought potentially different prizes. A date with Jessica Biel raised $30,000 to help a teenager who lost her leg in a prom night limousine accident. For only a little over than a half million more, they could have won lunch with Warren Bufett for $620,000.

No comments: