Michael Jackson Items Bring In $1 Million at Auction
Memorabilia once belonging to Michael Jackson fetched an impressive $1 million dollars during an auction in Macau, China on Saturday (October 9). Approximately 100 of the King of Pop's items, which included a basketball signed by Michael Jordan, an arm brace worn by Jackson during a promotional video shoot for the album 'HIStory,' and a crystal-studded black glove clocked a total of $1 million. An unidentified Internet bidder reportedly paid $180,000 for the glove while the basketball sold for $245,000.
The auction drew bidders from around the world, which featured 435 non-Jackson items for sale including an outfit worn by Madonna during her 1993 Girlie Show world tour, and a costume worn by actor Bruce Lee in the film 'Game of Death.'
Since his passing in June 2009, Jackson's has seen an increase in popularity, earning his estate an estimated $250 million in the last year. A posthumous record deal with Sony Music guaranteed the estate $200 million over seven years, plus revenue from the film 'This Is It,' which grossed $252 million, and licensing deals have all helped to pull the estate out of a reported $500 million debt.