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The Gift of the Magi is the story of a couple Jim and Della who are not very rich. They are getting ready for Christmas and both of them want to sacrifice their valued possessions to buy a wonderful gift for their spouse for Christmas.
Della has beautiful hair. They are so beautiful and long that easily has them cut and sold. She made a great amount for it and purchased Jim a chain for his watch.
In return, Jim sold his watch to purchase Della beautiful combs to hold her locks of hair.
Christmas rolls around and they exchange gifts. The gifts become useless. This is a great tale to analyze the value of material items.
Like the Magi, those wise men who invented the tradition of Christmas giving, both Della and Jim have unwisely sacrificed the greatest treasures of their house for each other. However, of all those who give gifts, these two are inevitably the wisest. Please let me know if you need any clarification. I'm always happy to answer your questions.