April 6, 2011 -- With 14 Oscar nominations and 11 wins, James Cameron's "Titanic," the highest-grossing film in history till "Avatar" came along in 2010, has made headlines again for a famous nude sketch of its star Kate Winslet.
The sketch sold last weekend for a reported price of at least $16,000 at Premiere Props' entertainment memorabilia auction. Although the highest bid was $16,000, the final selling price has not been released.
When contacted by ABCNews.com about the sale, Premiere Props would not comment.
Martin Nolan, executive director of Julian's Auctions, another entertainment memorabilia auction house in Beverly Hills, Calif., said he's not surprised by the whopping amount of cash. "People will pay this kind of money for celebrities," he said. "It's about the love for the movie, the entertainment in saying you own this, and for love of art itself."
And this sketch depicted a pivotal "Titantic" scene: Rose DeWitt Bukater, played by Winslet, asks lover Jack Dawson, played by Leonardo DiCaprio, to draw a portrait of her wearing a blue diamond necklace -- called the Heart of the Ocean -- and nothing else. Jack sketches while Rose lies nude on a couch inside her suite.
DiCaprio, however, despite his many talents, did not actually draw the portrait. Director James Cameron did, according to Moviefone.com.
No matter who created the sketch, no one could deny its importance in framing the movie. It paved the way for a treasure hunter to find Rose -- 84 years later -- so that she could tell her side of what happened on the ship. The tragic love story is told through Rose's eyes as the team of historians gathers around and listens.
Chris Petrikin of Fox Studios, which released "Titanic" in 1997, told ABCNews.com the studio could not comment on the sketch or the sale until it first authenticated the work of art. An employee at Sotheby's New York, an international art auction house, however, said it was not customary to authenticate a piece after an item had been sold.
"It's the first thing we do," said the Sotheby's representative. "Depending on the item, we direct our clients to a correct specialist in that field, arrange a viewing, appraise it, and after an evaluation see what sale it's suited for."