It is Rumored that P.T. Barnum, purchased a "White" elephant from India for a large sum sight unseen. When the animal arrived, Barnum was horrified to see that the animal was covered with large light pink splotches, and was not "White" at all. People were unimpressed with the elephant, so Barnum kept the beast hidden from public view. Thus the term "White Elephant" came to mean something that was generally no longer valued but too costly to let go. I am that "White Elephant"