Films under the hammer

Nostalgia goes under the hammer: the new market for film props

From *Downton Abbey* to *Game of Thrones*, the world of fans is turning into a collectors’ market, with some iconic items fetching trophy prices

4' min read

Translated by AI
Versione italiana

4' min read

Translated by AI
Versione italiana

Can a stain increase the value of a dress? For Christie’s, the answer seems to be yes. From 1 to 15 September, the auction house will be putting a selection of costumes and accessories from ‘The Devil Wears Prada 2’ up for sale online, featuring items worn by Meryl Streep, Anne Hathaway, Emily Blunt, Stanley Tucci, Simone Ashley and Lady Gaga. Among the lots is also the ‘Niki’ dress by Gabriela Hearst worn by Hathaway in the role of Andy Sachs: the stain left on the dress during filming will not be removed, but will become part of the item’s history. On 10 September, during New York Fashion Week, Christie’s will also be presenting a number of items at a live charity auction, with the proceeds going to the Committee to Protect Journalists (CPJ) and the Council of Fashion Designers of America (CFDA).

This is one example of how cinema – and television series too – are transforming costumes, jewellery and props into new collectables. And this phenomenon is not limited to Hollywood. Original items from television series are increasingly appearing on the secondary market: from ‘Downton Abbey’ to ‘Game of Thrones’ and ‘The Walking Dead’, with prices in some cases reaching levels seen in the art market. In these cases, the value lies in the item’s narrative provenance: it is its connection to a scene, a character and a story known to millions of viewers that transforms it into a collectable.

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In asta i costumi del Diavolo veste Prada 2

Photogallery9 foto

It’s not just Hollywood: TV series are making their way into auctions

Over the past two years, auction houses have seen growing demand for costumes, props and set pieces from television series, transforming the fandom – the world of fans – into an increasingly structured form of collecting. The most recent and significant example is ‘Downton Abbey’, the British television series comprising six series totalling 52 episodes, which originally aired between 2010 and 2015. In the summer of 2025, Bonhams turned the conclusion of the television and film saga into a major market event, auctioning 267 costumes, props and set pieces used in the series and films. The sale, which concluded on 16 September, raised £1.735 million, including commissions, roughly six times the total estimate, with 100 per cent of lots sold and over 4,000 registered bidders, attracting more than 15,000 visitors to Bonhams’ London headquarters. The most surprising result – though not the only one – was that achieved by the ‘bell wall’, the bell panel which, in the series, allowed the servants to know which member of the family required assistance: estimated at 5,000–7,000 pounds, it sold for 216,300 pounds, more than thirty times the upper estimate. A portion of the proceeds was donated to the charity Together for Short Lives.

‘Downton Abbey’ is not an isolated case. The most sensational example is that of ‘Game of Thrones’. In October 2024, Heritage Auctions, in partnership with HBO, organised an auction featuring over 900 lots from the series: costumes, weapons, props, set decorations and memorabilia. The total takings amounted to $21.1 million, with over 4,500 bidders from around the world. Topping the list was the ‘Iron Throne’, the ‘Throne of Swords’ used for the series’ promotional events, which sold for $1.49 million after a six-minute bidding war. Jon Snow’s sword, Longclaw, fetched $400,000, whilst his Night’s Watch costume sold for $337,500.

In 2025, the phenomenon found another major testing ground with *The Walking Dead*. Heritage Auctions and AMC Networks put 892 lots up for sale, including props, costumes, vehicles and other items used across the series’ 11 seasons and its spin-offs. The total proceeds amounted to $1.96 million, with 1,840 international bidders. Rick Grimes’ revolver sold for $125,000, Negan’s bat ‘Lucille’ for $100,000, Daryl Dixon’s crossbow for $35,000 and Andrew Lincoln’s Pontiac GTO for $31,250.

What determines the price?

The market for television memorabilia therefore has a fairly clear hierarchy. The first factor is the object’s significance within the plot. The Iron Throne, Jon Snow’s sword and the bell from *Downton Abbey* are immediately associated with the story and its main characters.

The second is recognisability. An object may be relatively simple, but it can become valuable if the audience recognises it within a few seconds. The third element is the character and the actor. A costume worn by a leading actor takes on a different value to a generic outfit worn by an extra. The actor’s physical presence creates a second source of value: that of celebrity.

Then there is the moment of sale. The finale of a series, an anniversary or the release of a film can reignite demand, and auctions become part of what is known as the entertainment economy.

Finally, as in the art market, there is the question of provenance. Certificates of authenticity, production documentation, continuity of costumes and on-set photographs all help to establish that chain of provenance which enables the buyer to assign a monetary value to the object’s history.

From fan to collector

But who is buying? The most recent auctions suggest that the line between fans and collectors is becoming increasingly blurred. Interest may stem from a personal fondness for a series, but the item purchased possesses characteristics typical of collecting: authenticity, rarity, provenance, recognisability and scarcity. The emotional aspect therefore remains central, but it is not incompatible with an investment rationale, nor with the fact that an iconic, rare and well-documented item maintains its demand over time.

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It is still too early, however, to speak of a genuine financial market for television and film memorabilia. Unlike the art market, there is a lack of sufficiently long historical price series, indices and a structured secondary market. But some signs are already evident: auction houses are building databases, certification schemes and dedicated categories, whilst the studios have begun to regard the sale of props as a genuine stage in the commercial life cycle of a production.

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