'Grease' Outfit Worn by Olivia Newton-John Fetches Over $400,000 at Auction. The get-up is the black leather ensemble worn at the end of the classic 1978 movie. According to CNBC, the piece was bought for $405,700 in Beverley Hills. That is well above the estimated sale price, which was up to $260,000. SOLD for $405,700! The iconic black leather jacket and high-waist pants worn by @olivianj in the final scene from Grease!, @JuliensAuctions/Twitter. Other outfits worn by Newton-John were also auctio

Atlanta’s Sara Blakely buys Olivia Newton-John's 'Grease' pants

Spanx founder said the pants inspired her company’s faux-leather leggings

Sara Blakely told "CBS This Morning" on Tuesday she plans to frame the pants and hang them at Spanx's headquarters in Atlanta because they inspired the company's black faux-leather leggings.

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FILE - In this April 24, 2012 file photo, Spanx founder Sara Blakely attends the TIME 100 gala, celebrating the 100 most influential people in the world, at the Frederick P. Rose Hall in New York. Blakely was the successful bidder for the skintight satin pants that Olivia Newton-John wore in the movie “Grease.” She told “CBS This Morning” Tuesday, Nov. 5, 2019 she plans to frame them and hang them at Spanx because they inspired the company’s black faux-leather leggings.
Photo: AP Photo/Evan Agostini, File

Blakely bid $162,500 for the pants, which Newton-John had to be sewn in to for the 1978 film.

Blakely says she is huge fan of Newton-John, who sang at Blakely's wedding.

Newton-John said she's excited Blakley purchased them.

“I couldn’t think of anyone better to have them,” Newton-John told Blakely on “CBS This Morning,” “because they’re the original Spanx, right?”

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Blakely also bought a Pink Ladies jacket. 

Julien's Auctions says the leather jacket that Newton-John's character, Sandy, wore fetched $243,200, bringing the total for the outfit to $405,700.

The proceeds from the jacket and pants, as well as a portion of the other items sold, will go the Olivia Newton-John Cancer Wellness & Research Centre in Australia.

Watch the CBS segment with Blakely:

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