Rosebud sled from Citizen Kane sells for $14.75 million

The sled known as Rosebud, created for the 1941 Orson Welles masterpiece Citizen Kane, has sold for $14.75 million (£11 million) at auction.

The hardwood prop, which bears signs of wear and tear and no longer has its metal runners - most likely removed for wartime scrap - has belonged to Gremlins' director Joe Dante since 1984.

While he was directing Explorers in 1985, it was given to him by someone clearing out a section of the Paramount lot.

"One of the crew who knew I was a fan of vintage films came to me and said, 'They're throwing out all of this stuff. You might want this,'" Dante recalled in an interview with Intelligent Collector.

"I was astonished. Since I am a huge fan of the movie, I said, 'Yeah, I'll be glad to take it.'"

Scientific testing has confirmed its authenticity.

"I've had the honour of protecting this piece of cinematic history for decades," Dante said in a statement released by Heritage Auctions.

"To see Rosebud find a new home is both surreal and deeply gratifying. It's a testament to the enduring power of storytelling."

After the sale of a set of ruby slippers worn by Judy Garland in The Wizard of Oz for $32.5 million (£24.2 million) in December, this is the second most valuable piece of movie memorabilia ever sold, according to Heritage.

The buyer has not been revealed.