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Whatever someone is willing to pay for it. It's an old, used bridle; its intrinsic worth is pretty much nothing.
I've put a link in the related links section to an auction site so if you're interested you can see how much someone did pay for it (you have to sign up to see, and I'm personally not that interested, but since you asked you might be).
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Earn +20 ptsQ: How much is Secretariat's bridle worth?
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