Remember the Seinfeld where George buys Jon Voight’s car? Or the one where Elaine bids on JFK’s golf clubs? Why would anyone spend money, often a lot of money, on a common object just because somebody famous once owned it? A study in the Journal of Consumer Research offers some ____1____.

In one experiment subjects rated how much they would like to own, say, a watch. Some were told it had belonged to a nobody, others heard it was once a celebrity’s. Study participants rated the same objects as more desirable when they carried the alleged celebrity ____2____.

Some buyers look at a celebrity’s former possession as an investment. Because they know somebody else will pay even more for it eventually. But other purchasers of objects touched by a famous person are ____3____ by so-called contagion: the implicit belief that the thing retains some essence or physical trace of the former owner.

In the Seinfeld ____4____, Elaine got JFK’s golf clubs for $20,000, twice as much as she had been given permission to bid. In an actual ____5____ in 1996 JFK’s clubs went for more than a quarter of a million. Which sounds crazy until you remember that you probably got the bag, too.
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