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Wealth Culture

How Do You Put a Price on Audrey Hepburn’s Personal Treasures?

The movie star’s belongings are up for auction. Now, how to figure what they’re worth.

A Burberry trench coat once owned by Audrey Hepburn will go to auction on Sept. 27 at Christie’s London with an estimate of 6,000 pounds to 8,000 pounds ($7,683- $10,244). At the Real Real, an online consignment site, the asking price for a similar used women’s Burberry trench coat is currently $645. Christie’s, then, is guessing that its coat’s association with Hepburn gives it a $7,000 to $10,000 premium. 

Why $7,000 to $10,000, though? Why not $70,000? $100,000?