When I moved to Florida ten years ago, I believed there was only one type of Palm Tree in the world. I soon realized just how ridiculous this idea was because experts tell us that there are 2,600 different palm trees species across the globe.  Does anyone know which Palm Tree is the most expensive?

How does one decide which is the Rolls Royce of Palm Trees?

To begin, we need to understand, for our purpose,  how to value a palm tree? Could it even be done? Is there a way to find the one Palm Palm tree that truly deserves the honorable spot of 'Most Expensive Palm Tree?'

Yes. this can be accomplished by borrowing concepts from the economic Law ofScarcity:  

The  Law of Scarcity's foundation is based on the idea that resources (things) are limited. Because if resources (things) were infinite, everyone would have what they need. Scarcity would not exist.

So, applying the Law of Scarcity, can we determine which is the most expensive Palm Tree?

Yes. A Palm Tree that that grows on only two islands a thousand miles east of Africa - in the Indian Ocean, aka, nowhere.

Introducing the Legendary Coco de Mer Palm of the Republic of Seychelles. 

The Coco de Mer was once thought to have originated beneath the ocean. Old lore speaks to the palm seed's healing powers, including those with aphrodisiac influence. For centuries, the seeds of the Coco de Mer palm washed up on beaches or floated upon the ocean waves. When it was finally discovered that the Coco de Mer's seeds came from a palm tree growing on land, the original folklore was revised to sustain the mystery surrounding this fantastic tree - and it went like this - For a seed to be produced, the female and male plants must find a stormy night to embrace one another.  

The Coco de Mer seeds became known as the 'coconuts of the sea.'

The legendary Coco de Mer palm grows in poor soil quality on two ( Praslin and Curieuse) of the 115 islands that create the Republic of Seychelles -located somewhere near Madagascar, if that helps.

This Palm Tree holds great value due to its remote origins, and its scarcity. 

Why is the Coco de Mer Palm Tree Considered the Most Valuable Palm Tree?

Its statistics are impressive:

  1. Height - 82-110 Feet Tall, must grow 20-40 years before flowering.
  2. Fruit - Takes 6-10 Years to Mature; generally two-lobed but can be four-or six-lobed; reaches  20 inches and weighs up to fourteen pounds. 
  3. Record Fruit Size: 19 pounds
  4. Seeds - Require a germinating period of two years. The seeds are the largest and heaviest in the entire plant kingdom. 
  5. The seeds are scarce.
  6. When shedding old leaves, the nutrients from the old leaf are recycled back into the plant. In other words, this palm tree recycles itself..

Botanical experts suggest that the Coco de Mer Palm tree rivals the Redwoods in California. The Coco de Mer palm rocks, even without the distinction of being the most costly Palm Tree. 

Do you have a particularly expensive plant? Tell us all about it on Twitter or drop us a line. Until next time - Monocle Life!