In a statement Monday, the auction house said bids did not meet the item's reserve price. That's the confidential, predetermined minimum Michael Scott of Hobe Sound was prepared to accept. Interested bidders will now have a chance to privately negotiate an after-auction sale.
Dean died in a car crash in September 1955, about a month before the film's premiere.
Scott has documents showing the jacket was given by the film's wardrobe supervisor to the uncle of his friend and then willed to him after the men died.