Will Ferrell’s “Elf” suit set to hit the auction block, and Hollywood Christmas magic doesn’t come cheap

London – The costume worn by Will Ferrell in the 2003 comedy hit”Elfwill go under the hammer at a film memorabilia auction in London this December, with the skin-tight green and yellow piece of Hollywood Christmas magic expected to fetch a quarter of a million dollars.

Bidding on the iconic costume, complete with conical hat and matching tunic, will start at £50,000, equivalent to around $65,000, but is expected to ultimately sell for £200,000, or around $261,000, when the hammer falls at the Propstore Winter Entertainment Memorabilia auction.

According to the description on auction house Propstore's website, the inside of the tunic and stockings have tags that read “Mr. Ferrell,” and the tunic's tag also has “Hero 3” handwritten on it.

Auctioneers say “Mr. Ferrell” is written on the belt in blue ink.

Large film productions often create multiple versions of the same prop, but the term “hero” is usually used to describe highly detailed iterations that are central to the story and intended for close-up shots in the final film.

The suit up for sale does not appear to be the one Ferrell wore to an NHL hockey game in Los Angeles just after Christmas last year, when he made his sports fans laugh by sitting near the ice, looking disgruntled over a beer and a cigarette in a colorful suit.

Another notable item up for sale at the December auction is Marty McFly's iconic hoverboard from the second and third installations.Back to the Futuretrilogy, which is expected to sell for more than $156,000.

According to the product description, this is a lightweight version of the foam props that actors used in scenes where their characters are carrying boards, rather than the wooden version that Michael J. Fox and his fellow actors were seen riding in other parts of the film.

The example of the then-futuristic hoverboard does show some “wear from use and age, including adhesive residue around the mounting strips, cracks in the foam and chipped paint throughout,” according to the auctioneers.

However, the most valuable item at the auction will be the original prop used as Boba Fett's rifle in the film “Star Wars: The Empire Strikes Back.”

The auction house claims this is the only known example of the prop. Other stunt versions and castings were made for later films in the franchise, but according to Propstore Auctions, this EE-3 carbine blaster was “identified by serial number and photographed by stock details, directly confirming its provenance.”

The blaster, which began life as a genuine 1917 Webley & Scott No.1 Mark I signal pistol, is expected to sell for the equivalent of approximately $915,000.

The three-day auction, which begins Dec. 5, will feature other iconic movie memorabilia, including the Indiana Jones hat worn by Harrison Ford in the 1984 film Temple of Doom, Obi-Wan Kenobi's lightweight lightsaber from 1999's The Phantom Menace, and Jack Nicholson's stunt ax from the horror classic The Shining.