DellawantstobuyJim,herhusban,agiftforChrismas,butshehaslittlemoney.Soshesellshermostimportantpocession--herhair,andbuysanelegantplatinumwatchchainforJim.OnChrismasDay,JimshowshisgiftforDella,Dellaopenstheboxandcriesoutinjoy,onlytoburstintotearsimmediatelyafterward.Jimhasgivenherthesetoffancycombsshe'swantedforages,onlynowshehasnohairforthem..ThesheshowJimthewatchchain.Jimsmiles,fallingbackonthecouch.HesoldhiswatchtobuyDella'scombs,heexplains.Herecommendstheyputawaytheirpresentsandhavedinner.Astheydoso,thenarratorbringsthestorytoaclosebypronouncingthatDellaandJimarethewisestofeveryonewhogivesgifts.Theyarethemagi.