"The Gift of the Magi" is a touching short story by O. Henry that revolves around the themes of love, sacrifice, and the true meaning of giving. The narrative centers on a young couple, Jim and Della, who are deeply in love but financially struggling. In a selfless act, each decides to sell their most prized possession to buy a Christmas gift for the other. Della sells her long, beautiful hair to buy a platinum chain for Jim's beloved watch, while Jim sells his watch to buy a set of combs for Della's hair.

The story illustrates the irony of their sacrifices, as both gifts become useless due to their decisions. However, their willingness to give up their treasures for one another highlights the depth of their love, suggesting that the value of their gifts lies not in the objects themselves but in the sacrifices made out of love. This poignant tale serves as a reminder that true wealth comes from love and selflessness rather than material possessions.