The husband purchased the gingham dress for his wife in 1981 for some USD 2,000, and now Julien's Auctions in Beverly Hills expects to sell it November 9 for at least half a million dollars, the auction house said Monday, reported New York Daily News.
"When we picked it up from their house in New York, there were some tears. It was quite an emotional experience for them," company founder Darren Julien said.
"They've lived with it in their residence without much security for the last 30 years, and when they realized how much it's worth today, it became a concern. They're hoping it ends up in a museum or with a collector who can really take care of it," he added.
The costume, which includes a puffy-sleeved blouse, is one of several made for the film, but the only one that actually appeared on screen and the only complete outfit that has survived. It has spawned countless Halloween costumes and become an international symbol of American grit, glamour and virtue.
"It's like the holy grail of collectible items, along with the ruby red slippers," said Colleen Zimmer, co-director of the annual Oz-Stravaganza event in Chittenango, NY, that honors local author L Frank Baum, whose book inspired the 1939 MGM film.
Other Hollywood memorabilia on offer at the November 9-10 sale include the white strapless Edith Head gown worn by Elizabeth Taylor in 'A Place in the Sun' and a Cecil Beaton triptych of Marilyn Monroe, which hung in Monroe's New York apartment.
