Festive magic fueled by nostalgia has been credited for the “astonishing” sale of a Christmas tree, “bought for pennies” more than a century ago, for £3,411 ($4,328) at auction on Friday.

The “humblest Christmas tree in the world” thought to be one of the earliest mass-produced artificial trees has sold at auction for more than 50 times its asking price.

The World Tree of Hope is now shining bright at Grace Cathedral in downtown San Francisco. The tree, unlike any other in the world, is decorated with close to 20,000 origami cranes.

W.V. McGalliard was responsible for opening the country's very first Christmas tree farm in New Jersey when he planted 25,000 Norway spruce, according to the National Christmas Tree Association.