Will Ferrell's Elf Costume Sells to Anonymous Bidder at UK Auction for Nearly $300,000

Natasha Dado
·2 min read
ELF, Will Ferrell, 2003, (c) New Line/courtesy Everett Collection
ELF, Will Ferrell, 2003, (c) New Line/courtesy Everett Collection
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Everett

Will Ferrell's iconic Elf costume sold to one lucky fan for staggering price at an auction Tuesday.

The costume worn by the actor in the 2003 box office hit was sold at the UK-based Prop Store Entertainment Memorabilia auction this week for nearly $300,000 to an anonymous bidder.

Initially the costume was being auctioned off for only up to $40,000, but the anonymous bidder massively overbid, purchasing it for a whopping $296,702, the New York Post reported.

The costume features a matching dark green tunic and velvet hat paired with black munchkin shoes. It was designed by Carelli Costumes in New York.

RELATED: Will Ferrell Reveals He Turned Down Elf Sequel Despite $29 million Payday

Ferrell appeared on the cover of The Hollywood Reporter in October, where he spoke about the success of the film, which was directed by Jon Favreau (Iron Man).

The actor and comedian said he turned down a potential sequel due to it having a similar premise as the original movie.

"I would have had to promote the movie from an honest place, which would've been, like, 'Oh no, it's not good. I just couldn't turn down that much money,'" Ferrell told THR. "And I thought, 'Can I actually say those words? I don't think I can, so I guess I can't do the movie.'"

Elf grossed in $223 million worldwide and became an instant Christmas classic.

According to THR, he would have been paid $29 million for taking part in the sequel.

RELATED: Bob Newhart Predicted Elf Would Be a Holiday Classic Early on: 'Will [Ferrell] Had Such Charm'

Will Farrell's 'Buddy' costume from the 2003 film 'Elf'
Will Farrell's 'Buddy' costume from the 2003 film 'Elf'

Andrew Matthews/PA Images via Getty

The film follows Ferrell's Buddy the Elf as he travels to New York City to find his biological father after having been raised in the North Pole by Santa's elves.

Ferrell has made it clear more than once that he will not take part in a sequel of the movie.

In December 2013, the actor said there would "absolutely not" be a sequel. "It would look slightly pathetic if I tried to squeeze back into the Elf tights," he said on Bravo's Watch What Happens Live.