Is $1 Million A Stretch For The Return Of The Red Slippers From 'The Wizard Of Oz'?

Ten years ago, the famous red ruby slippers worn by Judy Garland in The Wizard of Oz were stolen from a Grand Rapids, Minnesota, museum. As previously reported by the Inquisitr, a Wizard of Oz fan has recently offered award of $1 million for the return of the American film artifact, but is this deep-pocketed fan wasting their money?

The anonymous benefactor has additional qualifications for locating the red slippers in order to collect the reward. The request is that the exact location and the name of the thief must be revealed in order to walk away with the $1 million. The problem with these stakes is that the stolen red ruby slippers were one of four pairs of red ruby slippers wore by Judy Garland while filming The Wizard of Oz. While the anonymous donor would be overpaying for the slippers, the awardee would actually be under compensated, here's why.

Originally, the slippers from the Wizard of Oz which were on display in the museum were insured for $1 million. Based on data collected by the museum's executive director, John Kelsch, as reported by the Associated Press, the red ruby slippers are now worth a whopping $3 million. With the 10-year anniversary of the high profile theft of The Wizard of Oz slippers coming up in August, the donor, who is reportedly located in Arizona, finds the return of the slippers to be of high importance.

Despite the fact that the slippers have been missing for almost 10 years, The Wizard of Oz fans have other options of places to view a piece of film history. One of the four red ruby slippers are on display at Washington, D.C., Smithsonian Museum, another in the National Museum of Art and History, and the last pair found a new home in 2012 and is destined for a place in the new museum for the Academy of Motion Pictures Arts & Sciences. The purchase of this particular pair of red slippers was led by Leonardo DiCaprio, Steven Spielberg, and Terry Semel. Many believe that the recently-purchased Wizard of Oz slippers are worth much more than the stolen slippers based on their ownership and location.

The stolen red ruby slippers were reportedly housed in Minnesota because Grand Rapids is Judy Garlands hometown. The actresses' hometown museum is anticipating the return of the famous slippers from The Wizard of Oz and hoping that the anonymous donor' reward attracts a good samaritan.

[Image the Telegraph UK]