Most smokers see a finished cigar. They see the wrapper, the band, the box, and the presentation. What they rarely see is everything that was rejected, discarded, sorted, tested, aged, and sacrificed before that cigar ever reached their hands.

When someone sees a luxury cigar priced at $50, $100, or even several hundred dollars, the first question is usually simple: "How can tobacco cost that much?" The answer is that you're not buying tobacco. At least not only tobacco.

People assume the most valuable part of a luxury cigar is the tobacco. They're wrong. The most expensive ingredient cannot be harvested, purchased, or manufactured. It can only be invested.