E.T. Movie Poster Sells For Nearly $400K

The original painting that served as the movie poster for Steven Spielberg's classic E.T. sold for nearly $400,000 at auction this week.

The buyer, who wishes to remain nameless, bought it for $394,000 on Wednesday. The acrylic-on-board original painting is signed by artist John Alvin.

Heritage Auctions says that the poster has spent the last 13 years hanging on the wall of Bob Bendetson, a writer and producer on shows like ALF and The Simpsons. Bendetson had apparently purchased the poster from another movie executive.

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E.T. the Extra-Terrestrial was a 1982 family movie that centered on a small alien's attempts to get home after being stranded on Earth. While a family tried to keep him safe, authorities wanted to apprehend E.T.

Created on a $10 million budget, E.T. went on to be the highest-grossing film of the '80s. E.T passed Star Wars to become the highest-grossing film of all time, a record it held for eleven years until Jurassic Park beat it in 1993.

Source: Associated Press