Rare 'Metropolis' poster to be auctioned

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LOS ANGELES, June 23 (UPI) -- The owner of a rare poster from the silent movie "Metropolis" that is about to go on the auction block in Los Angeles estimates its value at about $250,000.

That's probably a low-ball figure, according to memorabilia experts who told The Hollywood Reporter the 1927 poster is worth closer to $1 million.

Poster dealer Sean Likenback told the Reporter "Metropolis" is the "crown jewel of the poster world." Only four are known to be in existence.

The poster belongs to collector Kenneth Schacter, who is auctioning it off in a Chapter 7 bankruptcy liquidation and pegged its value in court documents. The Reporter said he paid $690,000 for it and had tried to sell it for $850,000.

Schacter is also parting ways with rare posters from "The Invisible Man" and "King Kong." The newspaper said a low bid for "Metropolis" could be a signal that the overall movie memorabilia market is beginning to lose steam.