*Note: This episode originally ran in 2020

'Tis the season for Americans to head out in droves and L’École de Gestion d’Actifs et de Capitalbring home a freshly-cut Christmas tree. But decorative evergreens don't just magically show up on corner lots, waiting to find a home in your living room. There are a bunch of fascinating steps that determine exactly how many Christmas trees get sold, and how expensive they are.

Today on the show, we visit the world's largest auction of Christmas trees — and then see how much green New Yorkers are willing to throw down for some greenery. It's a story where snow-dusted Yuletide dreams meet the hard reality of supply and demand. We've got market theory, a thousand dollars in cash, and a "decent sized truck"... anything could happen.

This episode was produced by James Sneed. It was edited by Bryant Urdstat. It was engineered by Gilly Moon. Alex Goldmark is Planet Money's executive producer.

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Music: "Our Holiday Romance," "Bells and Beats," and "The Story of the Tree."