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1. a phrase used when you are trying to make a deal, and the other person doesn't understand the magnitude of whats going on. 2. used when you are blessed with an amazing opportunity or gift, and somebody you know doesn't understand how amazing it is the phrase originates from the Rod Blagojevich tapes, in which blagojevich is trying to sell somebody the seat of illinois senator, and he thinks the other guy undervalued the cost of the seat.
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