In an unfortunate and sad twist of fate, almost exactly two years after Michael Jackson's shocking and untimely death, his iconic leather jacket worn by him in the 'Thriller' video has sold for an eye opening $1.8 million dollars.

The red and black leather jacket was purchased on June 26, 2011 by Milton Verret, a commodities trader from Austin, Texas, at Julien's Auctions in Beverly Hills. Verret purchased the jacket for several times more than it's anticipated price tag which was between $200,000 - $400,000. The iconic garb will be used as a fundraising tool, heading out on tour with the proceeds going to various children's charities.

The famed jacket sparked a fashion craze in the 1980s after Jackson and his troupe of zombies broke out into a dance routine in the music video. The auctioneer described the jacket as "among the most recognizable and famous garments of the 20th century."

Watch Michael Jackson's 'Thriller'

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