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The purchase of Manhattan by Peter Minuit is often regarded as the largest real estate deal in history, involving trade goods valued at $24 today. Historians debate the legitimacy of the transaction, with some claiming it never occurred, while others argue both parties were satisfied. The value of the traded glass beads was relative, as they were considered rare and valuable by the Native Americans at the time. Glass beads played a significant role in European exploration and trade, becoming essential in the economy of New Amsterdam.