For a better understanding of the vintage splurge, you should also note that the dress in question was worn by Judy Garland in the 1939 movie, The Wizard of Oz.
Of course, we also need to keep in mind that when it comes to filming movie scenes, several identical costumes are available, just in case, so this is just one of the many identical dresses put together for the occasion.
Another dress, from the same movie, was sold at an auction for $910,000, as reported by BBC news, so this one here was clearly a bargain. I would love to catch a glimpse at movie costumes collectors ‘trophy room’! I can absolutely understand their passion!