We generally see an auction as a way to pick up a bargain,
But there some auction houses that sell such rare or valuable items, that they attract some of wealthiest people in the world.
When the richest bid against each other, the price an item can sell, can break records.
Here are 5 of the most expensive things sold at auction.
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5) Wittelsbach diamond
If diamonds are a girl's best friend, the Wittelsbach would make one heck of a BFF.
The 35.56-carat blue diamond dates back to the 17th century, when King Philip IV of Spain selected the jewel to be part of his daughter's dowry.
The diamond passed among Austrian and Bavarian royalty for centuries, but after World War I Bavaria became a republic and the jewel was repossessed by the state.
Christie's auction house tried to sell it in 1931 but apparently found no buyers.
The diamond disappeared for a few decades only to resurface in 1962.
A private collector purchased it in 1964, but sold it in 2008 for $23.4 million.
4) 1957 Ferrari 250 Testa Rossa
This Ferrari 250 was sold at auction in 2009 for $12.2 million.
There are only 21 other cars like it, but none of them are quite so expensive.
While the 1957 Testa Rossas won 10 of the 19 international races that they entered from 1958 and 1961, this particular vehicle never finished better than fourth.
No matter because the car's finest quality is not its speed but its beauty.
With a body made by famed Italian automobile designer Sergio Scaglietti, the Testa Rossa boasts pontoon fenders and is said to have been one of Scaglietti's favorites.
3) Marilyn Monroe's "Happy Birthday Mr. President" Dress
Sold in 1999 for $1,267,500, this particular dress was worn by Marilyn Monroe when she delivered a sultry "Happy Birthday" performance to President John F. Kennedy on May 19, 1962.
The blonde bombshell wore this flesh-colored, curve-hugging, jewel-encrusted dress so tight and sheer that, according to legend, Monroe was sewn into the gown and wore nothing under it.
The one-of-a-kind dress was purchased by a Manhattan-based collectible company called Gotta Have It!
The dress was put up for auction by the widow of Monroe's acting coach, Lee Strasberg.
When asked by reporters why he would spend a fortune on a piece of fabric that originally cost $12,000, company president Robert Schargen proclaimed that he would have paid twice that.
2) Leonardo da Vinci's Codex Hammer
Leonardo da Vinci meticulously recorded his thoughts, musings and sketches in journals throughout his life.
Of the 30 that remain, his most famous is the Codex Hammer, named for the British nobleman who acquired the 72-page journal in 1717.
It was sold in 1994 for $30.8 million, and the buyer was Microsoft founder & world richest man, Bill Gates.
Mr.Gates also released a digitally scanned version for all the world to enjoy.
1) Pablo Picasso's Nude, Green Leaves and Bust
Sold in 2010 for a mind blowing $106.5 million, All it took was a little over 8 minutes of bidding to sell.
Offered by Christie’s this fabulous work of art depicts Marie-Therese Walter, the well-known mistress of Picasso.
The painting itself is said to be one of the artist’s finest creations, which was created at the height of his career.
This rare work from Picasso was in the private collection of Sidney and Frances Brody.
The duo purchased the painting in the 1950, for just $17,000.