Ouch! Carlo Rambaldi's original screen-used 'E.T.' model might reach $1 million at Sotheby's auction

Why is it so wet-looking? He looks like a professional wrestler covered in baby oil. We can't answer that question, but if you're willing to stump up a million dollars, you can own this incredibly glossy piece of sci-fi history.

It might be slightly scary, but this rare remnant of Hollywood's illustrious past was actually used in the filming of director Steven Spielberg’s sci-fi fantasy, "E.T. the Extra-Terrestrial," and could fetch nearly one million dollars when Sotheby’s auction bidding finally closes on the historic lot next month.

An authentic shooting model of the beloved character has surfaced from the personal collection of Academy Award-winning special effects and makeup effects master Carlo Rambaldi, whose work has graced the screen for decades in blockbuster films such as "King Kong," "Close Encounters of the Third Kind," "Alien," "Dune," "The NeverEnding Story," and "Silver Bullet." Rambaldi sadly passed away in 2012 in Italy at the age of 86 after conjuring up a lifetime of cinematic magic.

Sotheby's is offering this one-of-a-kind E.T. prop estimated to bring $600,000-900,000 as part of the special lot titled "There Are Such Things: 20th Century Horror, Science Fiction and Fantasy on Screen." Bidding opens on March 21 and continues through April 3.

"We are truly honored to collaborate with Sotheby's and deeply grateful for this opportunity to bring my father’s work to auction," stated the artist’s daughter, Daniela Rambaldi. "We hope that the artifacts being offered will bring immense joy to those who will cherish them in the years to come, just as they have brought great emotions to my family and shaped the magic of my childhood. These iconic pieces hold a special place in our hearts, and it is our sincere wish that they continue to inspire and captivate future generations."

The squat three-foot-tall E.T. model was designed by Rambaldi in 1981 and was used in the amusing bedroom closet scene, where E.T. tries to silently blend into a huge pile of dolls and stuffed animals on the floor in an attempt to hide from Elliott’s mother.

Additional items being auctioned from the Rambaldi collection are: never-before-seen sketches for E.T.; an animatronic study of one of E.T.'s eyes; a pair of screen-used sandworm models from "Dune" (est. $15,000-20,000); and a dinosaur egg (est. $6,000-9,000) and baby dinosaur animatronic from the 1993 Japanese film "Rex: A Dinosaur's Story" (est. $8,000-12,000).

"Carlo Rambaldi's genius defined animatronics and special effects in film making, bringing to life some of cinema’s most unforgettable creatures," adds Sotheby’s Cassandra Hatton, vice chairman of science and natural history. "His meticulous craftsmanship behind icons such as E.T., the sandworms of David Lynch's 'Dune,' and 'King Kong,' remains a testament to the magic of practical effects. This model embodies the artistry of an era before CGI took hold, a nostalgic and iconic piece of Hollywood history as captivating as the stories themselves."

For more information on the auction please visit Sotheby's official site HERE.

If a million dollareedoos is too rich for your blood, there's still time to pick up Chewbacca's bowcaster or Luke's medal from Star Wars for a much more reasonable half a million in the Propstore's Entertainment Memorabilia Live Auction too.