$48 is definitely too much for a few pieces of wood that hold your shoes...right? Especially if each cedar shoe rack only holds four pairs of shoes and you would need three racks at least to even make a dent in the close.
Thank jesus for the internet! A quick Froogle search turns up some remarkably similar racks for $21 each. That's still pretty pricey though...$63 for a shoe holder? For $39 I could get a three level rack that is less attractive but actually includes more cedar (and here I was thinking that the cedar itself was the expensive part.) If I forgo the wood, I can even get a 50 pair (!) shoe rack for only $49.
Unfortunately, this just doesn't seem like the kind of thing you should buy online. I think my next trip downtown will include yet another expensive visit to the Container Store.