The Big Score:
When an actor has appeared in more than 175 films, you'd expect an old eye patch to be the least of his legacy. But at least one fan of iconic actor John Wayne seems to disagree; late last year, a patch worn by the Duke in the film True Grit was auctioned off for $48,000 -- about eight times experts' predictions. By comparison, his costume from Sands of Iwo Jima (sold at the same auction) barely hit its pre-sale estimate, going for $23,900.
How It Happened:
The prop was part of a Wayne memorabilia sale that's been decades in the making; the actor's family held on to his estate for 32 years -- and their patience paid off. The auction, which included over 700 items, brought in upwards of $5.3 million, more than three times what was expected. Experts credit the excellent condition and verified authenticity of the items, as well as the lasting appeal of Wayne, for the staggering prices. "It can't get better than this," says Greg Rohan, president of Heritage Auctions, which hosted the sale. It helped that Wayne's son had signed certificates of authenticity for every item, adds Rohan.
What You Can Do:
Not all of us have a movie star in the family, but that doesn't mean investors can't take advantage of the celebrity-goods market. Experts say the keys to hitting the memorabilia jackpot are identifying a living star who might be undervalued and obtaining proof of authenticity on every purchase. And be prepared to get a little morbid: Nothing boosts the value of an item like the death of its former owner, says Mark Roesler, CEO of CMG Worldwide, which handles the licenses of hundreds of deceased celebrities.
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