Could Miley Cyrus be the new Madonna of clothing memorabilia?

This week, American teen singer and actress Miley Cyrus announced that she is set to auction off the content of her wardrobe.

The sale will be hosted by eBay and will see the 17 year old star selling her clothes and accessories in the name of charity.

All proceeds of the event going to Get Ur Good On, an initiative which aims to get young people involved in local community volunteering.

In a newly released statement, Cyrus had this to say about the auction:

"For me I get this amazing blessing and opportunity to do this every day and get up on stage and hopefully inspire people with my music. And that's something that's really important to me, but so is getting involved in charities,"

Recent years have seen Cyrus begin to shed her "tween" image cultivated by the popular Disney kids sitcom "Hannah Montana" and her various releases under this pseudonym.

2009 saw the release of the more mainstream "The Time of Our Lives" LP which featured her biggest mainstream single success yet "Party in the USA".

Since then she has hit the headlines, rather ironically, for her controversially revealing clothing. Earlier this year, she released the album "Can't be Tamed" which saw her image as an entertainer take an even more sexualised direction.

All of which is likely to have a positive effect on rare collectibles relating to the star.

According to Francois Navarre, the owner of X17 photo agency, the controversy of recent years has seen the value of unique pictures of the star shoot up:

"Now the pictures are going for a higher price. It used to be £200 ($300) for shot and now it's £1,330 ($2,000) for a picture"

And Cyrus certainly seems to be in a stronger position now than stars like Britney Spears were at this point in their careers. Cyrus is currently ranked 13th on Forbes' 2010 Celebrity 100 with an entertainment empire worth approximately $1 billion dollars.

The eBay auction represents the perfect opportunity for investing in memorabilia that already has a huge market fans and collectors.

Jeans worn by Madonna
Jeans worn by Madonna

Furthermore, the collectibles market has an history of impressive prices for clothing memorabilia from pop stars of the past and present.

A pair of jeans worn by Madonna on the cover of her 1986 album True Blue is currently on the market for £18,000 ($27,000).

And while Cyrus endures criticism for some of her revealing outfits worn on stage, it's interesting to note that a risqué basque worn by Madonna in 1992 is today available for £15,000 ($22,500).

The eBay auction at the end of the month could provide bidders with similar clothing memorabilia.

Let's just hope it turns out to be a "Party in the USA" for investors and collectors alike.



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