Radar Online
Everyone wants a piece of the King of Pop.
It has been over 12 years since Michael Jackson had passed away, and articles of clothing from his estate are still being valued at astronomical amounts.
According to recent legal documents obtained by The Blast, the late pop star’s estate currently lists Jackson’s one-of-a-kind outfit used in the filming of the Bad music video as worth $271,875.
The black leathered, multi-belt, and buckle laded fit had been hanging in Michael’s closet since the ’80s but is now considered one of the most sought-after pieces of Jackson memorabilia out there.
The MJ Estate and its executors spent over a decade following the pop star’s death cleaning up the father of three’s financiers and eventually got it to a place where it earns hundreds of millions of dollars in revenue each year.
It’s currently unclear whether or not the estate is holding on to the piece or if it is displayed in some other location as there are multiple Jackson museum exhibits and collectors around the world.
This isn’t the first of the King of Pop’s many iconic outfits to be valued at high amounts. The red and black jeans and jacket he wore in the Thriller music video fetched $1.8 million during an auction held in recent years.
The jacket was worn during Michael’s first solo tour, even selling for over a quarter-million to a Texas businessman with many believing the $298k price tag to be a bit too conservative.
The entirety of Jackson’s estate is valued at over $2 billion since his tragic death.
Following MJ’s death, executors of his estate set up his finances to continue providing for his three children, Paris, Prince, and Bigi aka “Blanket”, as well as his mother Katherine.
“Michael Jackson provided the sole financial support for his children and was Mrs. Jackson’s primary source of support. The Executors have endeavored to continue to meet the financial needs of Mrs. Jackson and the children. The Executors have done so through a family allowance for Mrs. Jackson and the children as well as various other means,” the document stating the handling of Michael’s belongings reads.
It continues, “Mrs. Jackson resided in the Estate’s real property on Hayvenhurst Avenue in Encino, California for more than thirty years. At the time of Michael Jackson’s death, the mortgage on Hayvenhurst was in default. The Executors paid the mortgage in full. The Executors made and continue to make from time to time necessary repairs and improvements to Hayvenhurst to address maintenance and other issues. The Executors have continued to provide for the maintenance of Hayvenhurst, including estate management, security, and staff.”
