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It's the capital E versus the lower case e that's at stake here. Levi's collectors know and look for the difference. Of course these same folks will pay thousands for a turn of the century (1900 I should specify!) pair of pants. I'd rather buy somehting I will wear.
So this is an old item? Turn of the century? That would make more sense. Funny, my mother sees denim as a "poor man's" item. She's 78, so definitely of a different era.
Kafe, no, this one is definitely not turn of the century - I don't think they would have printed "fragile" all over a jacket. That said "Big E" Levi's are pre-1971. Personally, still not worth that much.
I hope the seller is at least making big profit margins... as in, I hope they didn't pay even more, only to short sell out of desperation for cash. o_0