Los Angeles, July 18 -- A seminal artefact from cinematic history, the fabled 'Rosebud' sled from Orson Welles' 1941 magnum opus "Citizen Kane", has been auctioned off for a jaw-dropping $14.75 million (£11 million), reaffirming its mythical status in the pantheon of Hollywood memorabilia.

Long believed lost to time, this particular sled-carved from wood and central to the haunting opening sequence of Orson Welles' 1941 masterwork, was salvaged in 1984 by filmmaker Joe Dante, thus sparing it from destruction. Discovered during a studio clean-out on the former lot RKO Radio Pictures, it was handed to Dante by a crew member who recognised his passion for vintage cinema, reports BBC.

"I was astonished...Since I am a huge fan of the movi...