The Sale of The Century

Today, in an auction house somewhere in Beverly Hills, an astonishing collection of Hollywood fashion memorabilia will go under the hammer.

The sale, billed as the most significant of its kind since the liquidation of the MGM and Fox studios in the 1970s, has been eagerly anticipated by fashion and movie collectors in the States, and indeed the world over.

With over 600 lots, the auction will include such iconic pieces as th gown worn by Audrey Hepburn in the Ascot scene in My Fair Lady and the headdress worn by the recently deceased Dame Elizabeth Taylor in Cleopatra.

But the star of the show is undoubtedly the white pleated halter-neck dress worn by Marilyn Monroe in the infamous scene over a subway vent in The Seven Year Itch. However, if you’d like to get your hands on this particular item, be prepared to dig deep; it is expected to go for at least $1million.

The collection’s owner, actress and Hollywood icon Debbie Reynolds, is said to be heartbroken by the prospect of losing who prized collection, but has admitted that, having failed to raise the necessary funding to put them into a museum, the sale is a necessary one.

In total, the auction is expected to raise a staggering $10million.

Update:  Raising a staggering $22.8 million, the auction has exceeded all expectations.  Unsurprisingly, the Monroe dress generated a lot of interest, and sold for $4.6million, while the more demure 'Ascot' outfit worn by Audrey Hepburn went for $3.7million!