Check out the remarkable event where Judy Garland's iconic ruby slippers achieved an astonishing $28 million at auction. These shoes, stolen by a retired mobster over two decades ago and later recovered by the FBI, have now found a new home with an unnamed buyer. The final price, including the auction house's fee, reached a staggering $32.5 million. Heritage Auctions Executive Vice President Joe Maddalena emphasized the unique significance of these slippers, stating that there is no comparison to any other Hollywood memorabilia.

Unprecedented Auction Success for Hollywood's Most Recognizable Memorabilia

History and Significance of the Ruby Slippers

The ruby slippers from "The Wizard of Oz" hold a special place in American film history. In 2005, they were stolen by retired mobster Terry Martin while on display at the Judy Garland Museum in Grand Rapids, Minnesota. Martin was enticed by the allure of a "final score" and used a hammer to break into the museum. These shoes, adorned with sequins and glass beads, were thought to be made of real rubies by Martin initially. However, he later learned the truth. After being recovered by the FBI in 2018, they became one of the four remaining pairs and were widely regarded as highly valuable. The Department of Justice stated that at the time of the theft, the slippers were insured for $1 million, and their fair market appraisal value in May 2023 was $3.5 million.The shoes have also been on an international tour with Heritage Auctions, stopping in cities like Los Angeles, New York, London, and Tokyo. This has only increased their global recognition and desirability.

The Auction Process and Record-Breaking Result

The live auction on Saturday afternoon saw intense bidding. Online bidding, which opened last month, initially stood at $1.55 million. Within seconds, the bidding on the slippers surpassed their pre-auction estimate, and they were sold a few minutes later. The previous record for a piece of entertainment memorabilia was $5.52 million, set by Marilyn Monroe's white dress from "The Seven-Year Itch." But Judy Garland's ruby slippers shattered that record, fetching a whopping $28 million. Heritage Auctions' Executive Vice President Joe Maddalena continued to highlight the importance of movies and movie memorabilia, stating that the breathtaking result reflects their cultural significance.

Other "Wizard of Oz" Memorabilia at the Auction

The auction also featured other notable memorabilia from "The Wizard of Oz." A hat worn by Margaret Hamilton, who played the original Wicked Witch of the West, sold for $2.4 million, with the final cost to the buyer being $2.93 million. This shows the continued interest in all things related to the beloved movie.In recent weeks, interest in "The Wizard of Oz" has spiked due to the release of the musical movie "Wicked," starring Ariana Grande and Cynthia Erivo. The film is on track to cross the $300 million mark at the domestic box office this weekend, further fueling the public's fascination with all things related to the story.