Michael Jackson’s leather jacket sold for $1.8 million

The iconic jacket worn by Michael Jackson in the 1983 ‘Thriller’ video, was sold for almost 10 times the original price an auction house had asked for. The jacket, black and red calf leather with winged shoulders, was one of two used for the shoot.

The other one, in scuffed condition, is owned by the Jackson estate. Sold by Julien’s auction house in Beverly Hills, the auctioned jacket is in better condition and was signed on the sleeve Jackson.

The jacket was sold to Milton Verret, a commodities trader from Austin, Texas. He said it would be part of a traveling exhibit and will be used to raise money for children’s charities.

"It is one of the most important pieces of rock'n'roll memorabilia in history," Verret said. His collection also includes another Jackson jacket and guitars signed by members of U2.

A portion of the proceeds from the sale will benefit The Shambala Preserve in Acton, home to Jackson’s two Bengal tigers, Thriller and Sabu.