Over 11 years ago, a competition was created to seek out the world’s finest wool. The World Wool Record Challenge Cup yearly results in the best quality wools, and the current record has resulted in a variety of the material with a thickness of 11.4 microns – which will be used to produce suits valued at $22,500 and up.

The annual competition takes place in Australia and New Zealand and is known to unveil some of the world’s finest and rarest wools. The competition takes into consideration factors such as transpiration, thermal insulation, crease resistance, lightness and comfort, and overall weight of the material. The winner of the competition has their entire harvest from the year bought by renowned Italian clothier Loro Piana. This year, the winning material will be used to produce only 40 of the exclusive suits.

According to Born Rich, the fabric produced from the fine wool is also marked with details like the place of origin and the year of shearing, making the wool ultra-exclusive and somewhat of a collector’s item.