Madonna Auctions Handbag For $500,000 5/23/08

Madonna's Chanel handbag sold for almost half a million dollars at a charity auction at the Cannes Film Festival on Thursday (22May08).

The pop superstar handed over the black alligator-skin diamond bag she had taken to the amFar Cinema Against Aids benefit in the French resort, complete with most of its contents, including lip gloss "that actually touched my lips"; lip balm; a mirror and throat lozenges.

She removed her two cell phones, insisting, "I'm not going to give up my Blackberry and phone because that's too expensive for you." But it still sold to a mystery buyer for a staggering $471,000 (£235,500), proving more valuable than even a smooch with silver screen idol George Clooney - which sold for $300,000 (£150,000).

Actress Sharon Stone was one of the night's biggest givers, handing over a $100,000 (£50,000) personal donation and then auctioning her own vintage Porsche 911 Targa for $810,00 (£405,000). The event raised more than $10 million (£5 million) for amfAR's life-saving Aids research programs.