What do you get when you take a foot-long frankfurter made from Kobe beef, grill it in white truffle oil and serve it on pretzel bread with caramelized onions, heirloom tomato ketchup and Dijon black-truffle mustard? The short answer, according to Joe Calderone, spokesman for Serendipity 3, a high-end bistro in New York, is the $69 Haute Dog, one of the world’s highest-priced hot dogs. To date, he said, the restaurant has sold more than 50 of the upscale dogs, but in the longer run, ...

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