Napoleon's iconic hat sells for $2.5M at auction

FONTAINEBLEAU, France, Nov. 17 (UPI) -- An iconic hat once worn by former French Emperor Napoleon Bonaparte sold at auction for $2.5 million, five times the amount it was expected to fetch.

The hat was one of 1,000 items once owned by the French leader put up for auction by Prince Albert II of Monaco.

A South Korean collector purchased the hat, one of 19 owned by Napoleon thought to still exist, as well as seven other other items. This particular hat is believed to have been worn by Napoleon during the 1800 Battle of Marengo.

All together, the auction at Osenat in Fontainebleau brought in $12.45 million dollars, about double what the auction house expected.

Prince Albert II put the items up for bid in order to raise funds to renovate Monaco's royal family palace. The items, which include the hat, medallions, coins, keys, paintings, sculptures and even socks, were collected between 1895 and 1920 by Louis II, Prince Albert II's grandfather.

"Due to necessary rehabilitation of the Palais de Monaco, which will enhance our cultural heritage, I prefer to give a new lease of life to this collection of objects and relics, by organizing a visible and grouped auction, rather than to see them remain in the shadows," Prince Albert II said in a written statement in the auction catalogue.