So Expensive Season 8 Marathon | So Expensive | Insider Business

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Steinway & Sons craft expensive pianos in New York using premium materials like Alaskan Sitka spruce and hard rock maple for quality sound. Products like Ruby Roman grapes, masutaki mushrooms, and Vicuna wool are rare and valuable due to intricate production processes, environmental threats, and high demand, requiring careful cultivation and harvesting techniques to maintain quality and value.

Insights

  • Steinway & Sons crafts some of the most expensive grand pianos, like the Model D concert piano in ebony, costing around $187,000 to over $2 million, prized for their sound quality and preferred by musicians like Billy Joel.
  • Steinway pianos are meticulously made with Alaskan Sitka spruce soundboards and hard rock maple rims, each key balanced by artisans to ensure consistent touch and sound, with final tone inspection for a balanced tone throughout the piano.
  • Rising costs of materials like Alaskan Sitka spruce contribute to the 4% annual price increase of new Steinway pianos, highlighting the ongoing challenges in maintaining the quality and value of these instruments.
  • The global market for durians, cardamom, masutaki mushrooms, sea urchins, and other high-value products faces challenges like climate change, market fluctuations, and environmental threats, impacting production, prices, and sustainability efforts by farmers and harvesters.

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Recent questions

  • Why are Steinway pianos so expensive?

    Steinway pianos are expensive due to meticulous craftsmanship, high-quality materials like Alaskan Sitka spruce and hard rock maple, and artisanal touch and sound balancing. The brand's reputation for superior sound quality, favored by professional musicians, contributes to their high prices. Each piano takes about 11 months to craft, with prices increasing annually due to rising material costs, like Alaskan Sitka spruce. The attention to detail in every aspect of production, from the soundboard to the keys, ensures consistent touch and sound, making Steinway pianos a premium choice for musicians and collectors.

  • How are Ruby Roman grapes cultivated?

    Ruby Roman grapes are cultivated in controlled greenhouses, with meticulous monitoring of light and temperature to ensure optimal growth. These grapes are large and inspected for color and size, with prices ranging from $90 to $450 per bunch. The unique sensor of Hasselblad cameras provides lower noise and wider dynamic range due to its larger size, ideal for detailed photography. The grapes are considered the most expensive globally, with one bunch selling for $12,000 in 2020, making them a luxury item in Japan. The cultivation process involves careful attention to detail and quality control to produce these premium grapes.

  • Why are cardamom prices so variable?

    Prices for cardamom vary greatly based on quality, with the lowest grade costing 900 Indian rupees per kilogram and the highest grade retailing for $90 per kilogram. Weather changes can disrupt the cardamom production process, leading to rot or burning of the pods. Harsh weather and unpredictable conditions in India's Idukki district have impacted green cardamom supplies, affecting global production. Farmers like Raja spend significant amounts on production costs, with fertilizer alone costing about $200 per acre. The global cardamom market is expected to grow by $169 million between 2021 and 2025, posing challenges for farmers to meet demand.

  • What makes sea urchin diving dangerous?

    Sea urchin diving can be dangerous due to the specific tools required, like a custom-made rake for harvesting urchins, and the challenging underwater conditions. Divers like Michael Robertson collect sea urchins by hand, targeting areas with abundant kelp forests for better quality urchins. Due to a lack of kelp, divers now harvest only a fraction of what they used to, impacting the value of red sea urchins and straining the ocean's ecosystem. Purple sea urchins, thriving due to the decline of sea stars, have consumed over 95% of California's kelp forests, making it harder to find red sea urchins with good gonads. The dangerous harvesting process, declining kelp forests, and changing ecosystem dynamics make sea urchin diving a risky endeavor.

  • Why is Muga silk production facing challenges?

    Muga silk production is facing challenges due to environmental threats like climate change and pollution, along with limited production, leading to higher prices and the rise of fake products. Muga silk, unique to Assam, India, is highly valued for its lustrous gold color and longevity, but the caterpillars needed to produce it are at risk of disappearing, impacting production. Production involves rearing moths, collecting cocoons, and carefully reeling the silk threads, with the shinier the silk, the more valuable it is. Conservation efforts are in place to ensure the growth of the vicuna herd and the production of high-quality wool, but these efforts are crucial to sustain the production of Muga silk in the face of various challenges.

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Summary

00:00

"Steinway & Sons: Crafting Luxury Grand Pianos"

  • Steinway & Sons produces some of the most expensive grand pianos in Queens, New York, taking about 11 months to craft each one.
  • A Steinway Model D concert piano in ebony costs around $187,000, with some models reaching over $2 million.
  • Steinway pianos are renowned for their sound quality, often preferred by professional musicians like Billy Joel.
  • The soundboard of a Steinway piano is made of Alaskan Sitka spruce, a rare and expensive wood with specific grain density requirements.
  • Steinway uses hard rock maple for the inner and outer rims of their pianos to enhance sound quality.
  • Each key of a Steinway piano is meticulously weighed and balanced by artisans to ensure consistent touch and sound.
  • Final tone inspection involves adjusting hammers to create a balanced tone throughout the piano.
  • The price of a new Steinway piano increases about 4% annually due to rising costs of materials like Alaskan Sitka spruce.
  • Hasselblad cameras are known for their high prices, with the digital back alone costing over $26,000.
  • Hasselblad cameras have a unique sensor that provides lower noise and wider dynamic range due to its larger size, ideal for detailed photography.

19:02

High-value durians and grapes drive profits.

  • Water costs about $2,200 for 2,200 farmers involved in durian cultivation.
  • Farmers meticulously check trees for infections and insects, wrapping each durian in plastic for protection.
  • Durians are harvested individually when perfectly ripe, impacting flavor and value significantly.
  • A 2.5kg Monton durian from Apridanya Farm can cost over $100, a third of Kanyao's price.
  • Kanyao durians from Apiaranya Farm range from $380 to $530 per fruit, with growing demand despite high prices.
  • Climate crisis poses a significant challenge to durian farms, with floods and storms destroying crops.
  • Global durian market expected to reach over $28 billion by 2025, ensuring continued demand for non-durian.
  • Japanese Ruby Roman grapes are large and meticulously inspected for color and size, with prices ranging from $90 to $450 per bunch.
  • Ruby Roman grapes are cultivated in controlled greenhouses, with meticulous monitoring of light and temperature.
  • Ruby Roman grapes are the most expensive globally, with one bunch selling for $12,000 in 2020, making them a luxury item in Japan.

49:24

Cardamom and Stetson: Production and Value

  • Pods need to be dried for about 18 hours after harvesting to prevent decay and preserve flavor and color.
  • Pods are cleaned and sorted based on size, weight, and color, with only a sixth qualifying as good quality marketable cardamom.
  • Prices for cardamom vary greatly based on quality, with the lowest grade costing 900 Indian rupees per kilogram and the highest grade retailing for $90 per kilogram.
  • Weather changes can disrupt the cardamom production process, leading to rot or burning of the pods.
  • Harsh weather and unpredictable conditions in India's Idukki district have impacted green cardamom supplies, affecting global production.
  • Farmers like Raja spend significant amounts on production costs, with fertilizer alone costing about $200 per acre.
  • The global cardamom market is expected to grow by $169 million between 2021 and 2025, posing challenges for farmers to meet demand.
  • Stetson cowboy hats are made through a complex and costly process involving raw fur, fur blending, and meticulous craftsmanship.
  • Stetson's iconic status and historical significance contribute to the high prices of their hats, with premium features like gold buckles adding to costs.
  • Stetson hats have been worn by famous figures like Annie Oakley and modern celebrities, elevating the brand's status and value.
  • Japanese bows, particularly handmade bamboo ones, are expensive due to the labor-intensive process involving raw bamboo, wedges, and natural glue.

01:13:57

High-Value Harvests: A Lucrative Industry

  • Demand for mastiha is increasing, benefiting farmers like Alexis who sells one kilogram for about $99.
  • Alexis produces about 1,000 kilograms of resin each season, providing him a good living despite tree maintenance costs.
  • Giheifujara hunts for masutaki mushrooms in the mountains, with wholesale prices exceeding $500 per kilogram.
  • Masutaki mushrooms are expensive due to their symbiotic relationship with red pine trees, with Japan's harvest declining by over 95% in 70 years.
  • Masutaki can't be farmed, requiring foraging by hand, making it a challenging and unpredictable task.
  • Despite a big harvest in 2021, Japan's masutaki harvest has been declining due to changing forest maintenance and invasive pests.
  • Masutaki harvests vary yearly, affecting prices significantly, with Japan importing over 90% of its consumption.
  • Gooseneck barnacles are expensive due to their delicacy status, with one pound costing over $100 in Spain and Portugal.
  • Harvesting gooseneck barnacles is dangerous and requires skill, with only a short window of time available for harvesting.
  • Zisha teapots are expensive due to the rare zija clay, with artisans like Boken Tang selling them for $20,000 to $30,000 each.

01:36:11

Challenges in Cultivating Valuable Natural Products

  • Wild simulated ginseng is a category of ginseng that is grown due to the scarcity of naturally growing ginseng, with Hongdaesek being a grower of this type for 28 years in South Korea.
  • To grow wild simulated ginseng, seeds need to be planted, but the process is challenging as ninety percent of the plants may not survive due to various factors like shade requirements and sensitivity to high temperatures.
  • Harvesting wild simulated ginseng involves digging around the roots carefully to avoid damage, with roots from forests being smaller, knobbier, and having more growth scars that indicate age and value.
  • Older and wild ginseng roots are highly valued due to their believed higher concentrations of ginsenosides, the bioactive compound in ginseng, although not all medicinal benefits of ginseng are scientifically proven.
  • Once harvested, ginseng needs to be consumed quickly due to its short shelf life, with products typically sold in liquid, dried, or powdered forms.
  • Wild simulated ginseng in South Korea is a controlled product by the government, ensuring quality and authenticity through inspections, allowing harvesters like Dasic to profit from the crop sustainably.
  • Muga silk, unique to Assam, India, is highly valued for its lustrous gold color and longevity, but the caterpillars needed to produce it are at risk of disappearing, impacting production.
  • Muga silk production involves rearing moths, collecting cocoons, and carefully reeling the silk threads, with the shinier the silk, the more valuable it is.
  • Environmental threats like climate change and pollution, along with limited production, pose challenges to Muga silk production, leading to higher prices and the rise of fake products.
  • Sea sponges hand-harvested from the Mediterranean are valuable but declining in population due to factors like climate change, waste, and disease, making the dangerous harvesting process less rewarding and more expensive.

01:58:18

"Harvesting Sea Urchins: A Delicate Process"

  • Sea urchins, or uni, are a prized delicacy served in sushi and are highly sought after for their large, buttery, and sweet gonads.
  • Divers like Michael Robertson collect sea urchins by hand, targeting areas with abundant kelp forests for better quality urchins.
  • Due to a lack of kelp, divers now harvest only a fraction of what they used to, impacting the value of red sea urchins and straining the ocean's ecosystem.
  • Purple sea urchins, thriving due to the decline of sea stars, have consumed over 95% of California's kelp forests, making it harder to find red sea urchins with good gonads.
  • Sea urchin diving can be dangerous, requiring specific tools like a custom-made rake for harvesting urchins.
  • After a 12-hour day, divers like Michael return with 750 to 900 pounds of sea urchins, which need to be delivered to processors the same night for cleaning and cracking.
  • Workers clean and sort sea urchin gonads meticulously, ensuring they are free of intestines and any damage to maintain their value.
  • Premium sea urchin gonads are bright yellow or orange, primarily sent to restaurants, and are rare to find, with only one premium gonad out of every 100 urchins.
  • Sea urchin gonads were not always valued in the US, but a sushi boom in the 90s led to an increase in demand, with uni being a highly sought-after item.
  • Vicuna wool, produced from wild vicunas in Bolivia, is extremely fine and expensive due to its quality, with conservation efforts ensuring the growth of the vicuna herd and the production of high-quality wool.

02:20:00

Rattan Processing and Lace Industry Challenges

  • Sarimanto harvests rattan and then soaks it for at least three days to make peeling easier.
  • Raw rattan is the foundation of rattan goods and goes through various processing stages.
  • Rusniyati buys raw rattan from harvesters like Sarimanto, incurring costs for processing.
  • Processing costs for rattan include wages, electricity, transportation, and expenses, especially during the rainy season.
  • Rattan must stay dry before processing, with thinner rattan smoked with sulfur and thicker rattan boiled in oil.
  • Preparing rattan can cost half of what Rusniyati sells in a month.
  • Rusniyati sells small rattan items locally for over $10 each, while larger retailers sell them internationally for over $100.
  • Rattan furniture market is growing, but harvesters like Sarimanto are seeing reduced profits due to export bans.
  • Leavers lace is intricate and expensive to produce, with designs taking months and costing over $500 per square meter.
  • Lace industry in France is declining, with few traditional producers remaining due to modernization and competition.

02:40:26

Sandalwood Conservation Efforts in India

  • Since 2018, sandalwood in India has been classified as vulnerable due to over-harvesting and limited replanting, with older trees preferred for oil production, requiring around 20 years to mature and posing risks during this waiting period.
  • To combat theft and ensure sustainability, every sandalwood tree must be registered with the government, harvested only with permission, and uprooted entirely by a government official to prevent waste, with the highest oil content found in the heartwood, yielding around 60 grams of sandalwood per kilogram of root portion, 40-50 grams in the stem, and 30-40 grams in branches. The Karnataka state government's "Grow More Sandalwood" program aims to replenish trees, with around 360 farmers enrolled, emphasizing the need for long-term protection despite the challenges and delays posed by government permissions.
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