I have often been asked, "Why does the magic I used to be able to buy for $10 or $15 cost $400 or more these days? It can't just be inflation."

Well, there are two or three sets of economic laws that come into play here. One if them is the law of supply and demand. They aren't making any P&L, Brema, Roterberg, Willmann, Thayer, etc. products any more. And now, the baby boomers who wanted some of these things when they were kids, are grown up, and they have money. There is a limited supply and a large demand. So the prices go up.

But how does this relate to modern products. Well, similar things are happening in the materials people use to make magic. Some exotic hardwoods are very difficult to obtain. Brazilian rosewood is on the endangered species list. So some of the rosewood items we used to be able to make are no longer available. The cost of labor is much higher now. Insurance, shipping, gasoline costs, all make the price of materials go up.

And now the manufacturers are making limited runs of certain items, specifically with collectors in mind. So, once the edition is sold out, the price goes up.

It's happening in the world of musical instruments, as well.

And it doesn't look like the prices are coming down any time soon.