Biggest ever Michael Jackson auction
The biggest ever Michael Jackson auction will take place this Wednesday at the Hard Rock Hotel and Casino in Las Vegas, with many items expected to go for millions of dollars.
"This really is a once-in-a-lifetime occurrence," said Arlan Ettinger, president of auction house Guernsey's.
"I cannot imagine that somewhere down the road some other collection could come out of the woodwork and rival this. It's not going to happen."
The memorabilia has become available for auction after a legal case in which Michael Jackson’s lawyers reached a confidential out-of-court- settlement after attempting to block the sale.
Michael Jackson and his family have been invited to the attend the auction as part of the settlement, but it is unclear whether anyone from the family will be present.
Some of the items up for auction include a Bill Whitten-designed militaristic red coat, a contract detailing Jackson’s $30 million purchase of a Californian ranch in 1987, now commonly known as “Neverland” and a telegram from Marlon Brando in 1984 giving Jackson a few encouraging words before a show.
Universal now own the collection after buying it from New Jersey businessman Henry Vaccaro for $5 million.
Although Ettinger would not give an estimate of how much the collection will make, Universal insured the goods fro more than $100 million when they transported them from New Jersey to Las Vegas.
Ten per cent of the proceeds will be donated to charities such as St Jude Children’s Research Hospital and Make-A-Wish foundation.
Editor, Jackpot.co.uk - 2007-05-29 12:06:34