Ruby Slippers!!!
Most certainly, Will does not own a pair of the ruby slippers. The last time a pair was sold at auction, in 1988, they fetched a hefty $165,000.
There are, reportedly, five pairs of Judy Garland's fabulous sequined pumps circulating around out there (and there may be more). The Smithsonian Institute has one. MGM Studios in Florida has another. A private collector who tour movie costumes to shopping centers has a third. Debbie Reynolds may or may not have one (she won't say).
In the early 1970s, when MGM was dissolving, several pairs of slippers "went missing" as the studio prepared to auction off what it claimed to be the only pair in existence. The story didn't hold out very long.
To get the whole skinny on the ruby slippers, visit this page, brought to you by "Beyond the Rainbow to Oz," a mail order site for all objects Oz-related!
And if your recollection of the The Wizard of Oz, that classic flick, is a little shaky, go to Marcia's Wizard of Oz Page for the blow-by-blow.