How much would you wager “the most iconic piece of pop culture memorabilia” would be worth on the auction block? Praised as the “the Holy Grail” of MJ memorabilia, the famed jacket went up for auction on Sunday and sold for a whopping $1.8 million, after originally estimated to go for $200-400K.
The jacket has “Love Michael Jackson” written on the sleeve and a dedication in the lining to his long-time costume designers, to whom he gave it. The winning bidder, a Texas gold trader by the name of Milton Verret, plans to show the jacket at at an Austin children’s hospital before sending it around the world to display during charity events.
A portion of the proceeds from the sale will go to the Shambala Preserve, a California wildlife sanctuary that has housed Jackson’s two tigers, Thriller and Sabu, since Neverland closed in 2006.