Final answer:
The Ford Model T's valuation in 1914 reflected its affordability and revolutionary production. The price had decreased to approximately $550 from its original $850, due to the efficiencies of the assembly line process implemented by Ford.
Step-by-step explanation:
Valuation of Ford's "Model T" in 1914
In 1914, the valuation of Ford's Model T was a reflection of its revolutionary production techniques and market impact. With the introduction of the assembly line in 1913, Ford Motor Company was able to remarkably reduce the manufacturing costs of the Model T. This innovative approach led to the significant increase in production - from 18,000 units in 1909 to a staggering 250,000 automobiles in 1913, and eventually reaching half a million in 1915. Although the price of the Model T started at around $850 upon its debut in 1908, it saw a steep decline thanks to the efficiencies gained from mass production. By 1914, it was possible to purchase a Model T for approximately $550, according to an advertisement in the New Orleans Times Picayune from 1911 indicating that prices were still near their initial high of $850. The price continued to drop, reaching below $300 by 1924.
Henry Ford's vision to produce an affordable and reliable car that could be purchased by the average American materialized through the Model T. This was made feasible not only due to the assembly line and the incorporation of vanadium steel alloy but also due to Ford's strategy to pay a high wage to their workers. This combination of affordability and decent wages allowed Ford employees and many Americans to own a Model T, drastically altering the fabric of American society.