Movie fans will soon have the chance to bid on a piece of holiday magic as Will Ferrell's iconic Buddy the Elf costume from the 2003 film "Elf" goes up for auction.

The yellow and green outfit worn in the modern holiday classic could fetch up to $264,000.

The costume is part of Prop Store's Winter Entertainment Memorabilia Auction in London.

Propstore Auction via CNN Newsource Buddy the Elf costume.

The sale runs from Dec. 5 through Dec.7 and features over 1,300 rare items. Other holiday movie memorabilia includes items from "Die Hard" and "Love Actually."

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