Will Ferrell's Iconic 'Elf' Outfit Gets Auctioned For Massive Amount

Will Ferrell's iconic character Buddy's costume, which he wore in 2003's movie "Elf," got auctioned in London for a massive amount.

The auction took place on Prop Store Entertainment Memorabilia's official website Tuesday. An anonymous person purchased the iconic costume for $296,702.

According to multiple reports, the costume was supposed to get somewhere between $27,116 and $40,675 but it exceeded the expectations by earning 10 times more.

The online store shared a video on YouTube on Oct. 13, featuring the "Elf" costume along with other movie costumes -- including of Spider-Man and Batman --- that were auctioned during the event.

The outfit was designed by Carelli Costumes.

"Elf" is a classic Christmas movie, which revolves around Ferrell's character named Buddy who was raised among elves as a kid but later returns to his father in New York.

The movie was directed by Jon Favreau and it also starred Zooey Deschanel, Ed Asner, James Caan, Mary Steenburgen and Peter Dinklage.

Considering the popularity of the classic Christmas movie, Ferrell was offered a $29 million payday for the sequel but he turned down the offer because he didn't like the script.

Last month, in an interview with the Hollywood Reporter, the actor explained, "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.’ And I thought, ‘Can I actually say those words? I don’t think I can, so I guess I can’t do the movie.'"

Ferrell also noted that during the filming of the movie, he thought this character - acting like an adult baby and wearing a colorful costume - might end his career. However, the movie soon became a box office hit.

On the work front, the actor will be next seen in a dark comedy TV series, "The Shrink Next Door," which is slated to stream on Apple TV+ this Friday.

Ferrell will be seen in another Christmas-themed movie, "Spirited," which is directed by Sean Anders. The movie also stars Ryan Reynolds, Ryan Reynolds, Ryan Reynolds and Aimee Carrero. It is currently under post-production and expected to release next year.