A pair of Dorothy’s ruby slippers, worn by Judy Garland in “The Wizard of Oz,” sold Saturday at an auction for $32.5 million, making the sparkling shoes the most valuable movie memorabilia ever sold at auction.

The slippers are one of four surviving pairs from the 1939 movie and were once stolen from a museum that housed them.

Live bidding for the pair of ruby red heels started at $1.55 million, according to Heritage Auctions, and were initially estimated to go for $3 million or more.

The…