Sylvester Stallone auctions off Rocky memorabilia

The Rocky star auctioned many of the props and costumes in his most famous movies

Sylvester Stallone held an auction on Friday where many of his costumes, props and personal items from his career were up for grabs. The Rocky star said the reason for the auction was so that fans of the movie could enjoy the memorabilia that had been sitting in storage for years.

Stallone said, "The memorabilia I have has been used and has been a part of my life for well over 40 years, it's been in my possession and I have fond memories of just about every object but there comes a point where I have used these objects enough and have created enough memories that I can let them go."

The two most expensive items in the auction were the championship belt used in Rocky II and Rocky II and the gloves used in Rocky II when he beat Apollo Creed.

Both items had a reserve price of $200,000, lowered from $300,000 originally, but none of the bids met that minimum.

Some of the proceeds from the auction will be go to charities for U.S veterans and wounded servicemen.