Movie memorabilia, and the industry which surrounds it, once comprised a handful of yearly auctions in studio backlots for hobbyist collectors. Today it involves the most respected auction houses in the world, draws tens of millions of dollars and has grown to be an investment opportunity which rivals the traditional art world. It led to the multi-billion dollar movie merchandise industry and was a catalyst in bringing online auction houses to mainstream attention.
Of course, movie merchandise today plays a huge role in film operations. Nearly every new release gets its own line of products, for example, whereas many years ago The Incredible Hulk could be found in comic books, today the merchandising world has expanded to virtual games and multi-million dollar film franchises, where fans can be a part of their favorite universe. But where did it all begin?
Back to square one
Like so many revolutionary events in film, the rise of movie memorabilia has its roots in the 70s. Before this, studios were unaware of the desire that fans had to have a physical connection with the movies they loved. The majority of items that today would make up the core of the memorabilia market were either being re-used to make multiple films or destroyed to save on storage costs. This meant that the memorabilia was restricted to posters, scripts and props which had been smuggled off sets. This all changed in 1970, when MGM president James Thomas Aubrey Jr sold the contents of seven sound stages to auctioneer David Weisz for $1.5 million. This was a huge number of items including 350,000 dresses alone. The mass auction that followed generated not only unexpected publicity but also huge profits for David Weisz, who estimated he recouped eight times his investment.
The ramifications of this auction are still being felt today. It began the memorabilia movement, and collections which began with that auction would grow to become the largest and most profitable in world. The Debbie Reynolds collection, which began with the MGM auction, would later raise $26 million at two auctions in 2011. It also birthed an even bigger industry – Hollywood, now aware that people wanted to own parts of movies but were unable to attend the relevant auctions in a pre-eBay world, ramped up their merchandise operations. This led to the Star Wars craze in 1977, with toys, masks, posters and food items all getting the Star Wars treatment and becoming valuable collectables today in their own right.
Best memorabilia for horror fans
Horror is a great genre for memorabilia and collectables – it boasts some of the most hardcore fans and coolest pieces to own. It also has some big memorabilia sales from a Child’s Play 2 Chucky doll going for $7,500, to the mask from the Creature of the black lagoon achieving $70,000 at auction in 2009. Where horror movie memorabilia really shines however is posters – seven of the 10 most expensive movie posters of all time belong to the horror genre, six of which star Boris Karloff. They all come from the golden age of 1920s and 30s horror cinema featuring beautiful hand drawn images and immortal characters, and are valued from $198,000 to $690,000.
