Dec 18, 2013

Boost Sales by Sharing the Story Behind Your Business

As a “follicly challenged” gentleman, I take comfort in my collection of hats. Not for their collectible value mind you, but for their value in keeping my head warm and dry during the winter season.

Being so practical about my hats, I just had to smile when I read of the recent auction sale – for $14,160 – of the baseball cap worn by Neil Armstrong after the splashdown of Apollo 11. The cap’s buyer paid over 70,000 percent more for Armstrong’s cap than I have ever paid for one of mine (usually about $20).

Would Armstrong’s cap keep the sun out of my eyes any better than my tried-and-true “Key West, FL” cap? Probably not. What made the cap worth five figures to the buyer? Bragging rights.

The cap has zero intrinsic value: Would you wear a $14,000 cap to mow the lawn? No, the collector will display this cap prominently in his home as a testament to his own shrewdness. The buyer didn’t walk on the moon, but he owns Armstrong’s cap and will forever be associated with the name Neil Armstrong through the provenance of the cap. Read More

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