How much would you pay for, say, the red bowtie Jared Leto rocked to accept his Oscar on Sunday? A new study looks at exactly why celebrity memorabilia is so valuable to us. Researchers say that when it comes to famous people, even the most reasonable among us believe in magic- that is, we believe celebs lend a so-called magical essence to their belongings. That’s why celebrity stuff can fetch thousands upon thousands of bucks. Experts explain the concept of contagion as “a form of magical thinking in which people believe that a person’s immaterial qualities or essence can be transferred to an object through physical contact.” Because of this, normal folks are especially drawn to items that the famous person touched a lot. And speaking of celebrity memorabilia, if you were wondering how much Pharrell Williams’ giant hat would go for, now you know: Arby’s just paid $44,100 for it on eBay (FYI, the dough is going to charity).