Money Matters, Simplified.
Michael Jackson's moonwalk glove auctioned for $350000
by Natalie James - November 22, 2009 - comments
The glittery glove was the top item in a collection of Michael Jackson memorabilia that included a jacket that Jackson wore on his 1989 "Bad" tour, a fedora he wore for the moonwalk, a fang tooth mold used in the "Thriller" video, and a Mercedes-Benz 500 SEL driven by Jackson
Los Angeles, CA, November 22 -- Michael Jackson's famous rhinestone-encrusted glove sold for $350,000 at a memorabilia auction on Saturday, Nov. 21, 2009, at the Hard Rock Cafe in New York City's Times Square.
The shimmering, white glove was worn by the “King of Pop” during his 1983 performance of Billie Jean at the Motown 25 television special where he premiered his trademark moonwalk dance.
Jeweled glove goes to Hong Kong
Auctioned at $350,000 plus tax, the sparkly glove sold for nine times the pre-auction estimate of about $50,000. The opening bid of $10,000 leaped immediately to $120,000 before fetching an astounding $350,000.
The buyer was Hong Kong businessman Fossman Ma, who purchased the iconic Jackson glove on behalf of a hotel in Macau China, where it will now go on display.
Ma will pay $420,000, including taxes and fees, for the jeweled, modified golf glove Jackson wore on his left hand for his trademark moonwalk.
"It was a bargain - we were expecting to pay more," said the 36-year-old hotel executive. "It was a fairly good discount."
"We're going to put it on display in our hotel. It will be free for everyone," he continued.
Auction a tribute to MJ
Darren Julien, CEO of Julien's Auctions, which ran the auction, said the 1983 television appearance when pop icon displayed the Moonwalk for the first time-- wearing the glove-- had been his "most historical performance".
Calling the glove "the Holy Grail of Michael Jackson", Julien said: "It's a tribute to his life and career - he's truly an amazing artist.”
Pop icon Michael Jackson died at his Los Angeles home in June this year at the age of 50 after a drug overdose.
Michael Jackson memorabilia
The glittery glove was the top item in a collection of Michael Jackson memorabilia that included a jacket that Jackson wore on his 1989 "Bad" tour, a fedora he wore for the moonwalk, a fang tooth mold used in the "Thriller" video, and a Mercedes-Benz 500 SEL driven by Jackson.
The black, strap and zipper-laden jacket from his "Bad" tour soared to $225,000, more than 20 times its estimate, while the fedora hat sold for $22,000, against a $2,000 high estimate.
Likewise, the fang tooth mold fetched $16,000, while 1985 Mercedes-Benz went for $104,500.
In all, the auction raised about $2 million.