Black walnut trees are so valuable because they are among the most sought-after hardwood trees in America. This is due to black walnut being extremely desirable for making furniture and other items because of its attractive grain and color, and because it is easy to work with.
Another reason for the value of black walnut trees is because it is difficult to attain other high-end wood, such as mahogany and teak. The pressure to protect tropical rain forests makes it difficult to sustain other high-end products, which in-turn drives up the price of black walnut. It is important to note that the black walnut trees that hold the highest value are those that possess sought-after characteristics that would appeal to a timber or veneer buyer, as opposed to the majority of trees that grow on urban residential property.