Answer:
The New York banker pushed the limits when he exchanged his mansion for a Cartier necklace valued at $1 million in 1917 which he gave to his young wife. While this was a great show of love, it was, in the economic sense, a very bad investment as not too long afterward, the cost of pearls would fall and after the death of Plank’s wife, the gift would go for a paltry $150,000.