As Andy told Red in "The Shawshank Redemption" ... "no good thing ever dies," which is so true for the movie's famous tree that's now become some very cool -- but expensive -- souvenirs.

'Shawshank' tree merchandise made from the wood of the huge oak tree -- that fell over after severe storm damage -- will be on sale Saturday in Mansfield, Ohio. Items from the fallen tree include key chains and magnets ($40), mini rock hammers ($85), bottle openers ($130), and shadow boxes with an inscription of Andy's note to Red ($500).

Pretty pricey, but then again ... it's a classic everyone loves. The sale's going down during the Shawshank Hustle -- a 7k race featuring 5 of the movie's locations.

We're told items are limited -- only so much tree to go around -- but anything not sold at the race will be available online afterward.