eBay Bidding Hits $400,000 for Sweatpants Signed by Gary Coleman

Bidding on eBay reached $400,000 Thursday for a pair of navy blue, size 12XL-Regular Gap Kids sweatpants signed by former child star Gary Coleman, E! News reported.

"This is really high," eBay spokeswoman Karen Bard told E!

"If someone pays $400,000," added memorabilia dealer Brian Chanes, "I would eat my hat."

Click here for the E! report

The fact that the former "Diff'rent Strokes" actor was also a onetime California gubernatorial candidate didn't explain the bidding to Chanes.

"Who cares? That adds an extra five bucks...This is absolutely a farce," he said.

Bard said the site won't know until the auction is over if the winning bidder is serious. The seller felt the same way.

"I don't know if the bids are real," the eBayer known as brassonline told E! in an e-mail Thursday. "Until somebody actually pays that amount then I will be comfortable."