In "The Gift of the Magi," Jim and Della prove their amazing love one for the other. Della desires to buy Jim a platinum chain for his golden watch. Jim's watch is an heirloom, passed down to him by his grandfather. Della decides to sell her long, beautiful hair to buy Jim a chain for his watch.
Believing she has the perfect gift, she pays the ultimate price for the chain. She has her long, beautiful hair cut in order to sell it for the money she needs to buy the chain.
While Della is selling her hair, Jim is out selling his watch in order to buy Della beautiful combs for her long, beautiful hair. Jim has no idea that Della has just sold her beautiful hair. He comes home with the gift of beautiful, jeweled combs.
When Jim walks in, he can only stare. He realizes that her hair is gone and she will not be able to use the jeweled combs that he purchased for Della. No doubt, he does feel foolish. He realizes she will not need the combs. Likewise, Della realizes that Jim will not need the chain for he no longer has a watch.
Truly, both Jim and Della realize how foolish their gifts are. They sacrificed thier most prized possessions to buy a gift that each would cherish. No doubt, they are considered the magi because of thier sacrificial giving.