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Corporate News: Michael Jackson basketball hammered off for USD 294,0000

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An old, Spalding basketball signed by Michael Jackson and Michael Jordan fetched USD 294,000 at a “pop culture” auction of celebrity memorabilia, held last Saturday at the Ponte 16 Resort Hotel.
“The Hollywood ‘Legends’ auction was successfully conducted by Julien’s Auctions,” it was said in a statement. According to the release, 435 auction items were sold during the 11-hour auction, bringing in a total of USD 3.2 million (MOP 25 million).
The auction was conducted in two sessions featuring stage costumes and collectibles from a number of superstars and celebrities. Items auctioned in the first session included the personal belongings of Princess Diana, Bruce Lee, Marilyn Monroe and The Beatles, as well as an assortment of pop culture artefacts from Hollywood Blockbuster movies.
Meanwhile, items of Michael Jackson, The Jackson 5, Madonna and Elvis Presley were sold in the second session.
“Apart from participating in the auction in person, many bidders also joined through absentee bidding, online platform or bid over the telephone. More than 10,000 bidders from the United States and Canada along with different parts in Europe participated in the auction with bidders from Asia, especially Japan.”
Bidding was mixed at times, but picked up substantially for memorabilia linked to the late King of Pop. The basketball saw ferocious raising of paddles before an American online bidder finally snared it for USD 294,000, 366 times over the estimated price – USD 600.
Another star lot, a black Michael Jackson glove and arm brace fetched USD 216,000, while a BAD era “Beat It” jacket was hammered off for USD 156,000.
Bruce Lee’s “Game of Death” shoes sold to a US bidder for USD 12,500. Michael Keaton’s costume in “Batman Returns” fetched USD 43,750, while the ball gown of Princess Diana, received over-whelming responses from bidders and was sold for USD 114,000.
“Ponte 16 is delighted to be the venue sponsor of this international auction. The success of the auction has demonstrated the world-class standard of our facilities and services, and reinforced our determination in bringing in more international events to Macau,” said Ambrose So, chairman of Ponte 16.
“The two items of Michael Jackson we have newly acquired from the auction will further add to the exhibits of our MJ Gallery.”
“We are thrilled to see such success in our first auction in Asia. […] These international events are set to attract more tourists to Macau and Asia,” said president and chief executive officer of Julien’s Auctions, Darren Julien.

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