The rubber and fabric suit, featuring the superhero’s trademark cape, cowl and bat logo as well as a yellow utility belt, was snapped up by a bidder in a sale at Nate D Sanders Auctions in Los Angeles on Thursday (26Jan17).
It was worn by Keaton in Tim Burton’s follow-up to 1989’s box office smash Batman, the last film in which the actor featured as the caped crusader.
Upon its 1992 release, Batman Returns netted an impressive $266.8 million (£212.8 million) at cinemas worldwide, according to Box Office Mojo.
The movie also earned two Academy Award nominations, garnering nods for Best Visual Effects and Best Make-up.
Despite the success of the film and its predecessor, neither Burton nor Keaton would make another Batman film, after disagreeing with studio bosses’ decision to give the franchise a more family-friendly tone with 1995’s Batman Forever.
Speaking earlier this month (Jan17) about why he decided not to do a third Batman film after Burton was replaced as director by Joel Schumacher, Keaton told The Hollywood Reporter, “It (Batman Forever) sucked. The script never was good. I knew it was in trouble when he (Joel Schumacher) said, ‘Why does everything have to be so dark?'”