Michael's memorabilia fetches whopping amount

Friday, June 01, 2007

Michael Jackson memorabilia being sold at a Las Vegas auction has made $500,000 in its first day. The iconic black and red military style jacket worn by Michael in 1987 was one of the biggest earners, fetching $24,000, at the first half of the two-day auction at the Hard Rock Hotel and Casino on Wednesday (30.05.07).

More than 1,100 items had been put up for grabs at the sale, led by auctioneers Guernsey's, including mementos from Michael's solo career and his time in The Jacksons. A collection of gold and platinum albums presented to the Jackson family for sales of 'We Are the World', a charity recording by a group of artists known as USA for Africa, sold for $20,000. The auction was set to end late last night (31.05.07).

'Thriller' singer Michael, who will not receive any of the profits, had previously attempted to halt the sale. The Jacksons lost possession of the items after failing to pay a storage bill. The memorabilia was sold to luggage delivery company Universal Express Inc. last year. Despite having paid $5 million for the collection and $2 million in transportation costs, the company's chief executive Richard Altomare said he was not disappointed with the sales so far. Other auction items include a model of alien film character E.T. and a good luck telegram sent by Marlon Brando in 1984, numerous one-off costumes worn by Michael and his siblings, and a collection of personal letters.