Word: auction
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Dates: during 2000-2009
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Death and nostalgia are proving to be a money-making opportunity for music memorabilia collectors and big auction houses who are hawking everything from Michael Jackson's iconic white glitter glove to old ticket stubs from rock's legendary Woodstock festival. (Woodstock Remembered: A legendary photographer looks back...
...Indeed, the sudden and tragic death of the King of Pop along with news shows commemorating the 40th anniversary of Woodstock have triggered a surge in the number of music fans frantically scouring the internet and auction houses for anything and everything related to these events...
...auction lot of 21 Michael Jackson items, ranging from vintage posters to a shirt, sold for $205,000 during a Las Vegas event the day after his death. The same items fetched only $15,000 in a private sale about six years earlier, says Darren Julien, president and founder of Julien's Auctions, who hosted the event. Among the items was a heavily-beaded shirt the pop artist wore during his Victory tour. "We had estimated it would get $2,000 to $3,000, but we sold it for $54,000," he says. (See TIME's photos of the Jackson...
...Another auction is currently in the works that will include the trademark sequined glove that Jackson first wore during Motown 25th anniversary show, where he first performed his famed moonwalk dance. "That piece is the Holy Grail," says Julien, who expects the item to sell for hundreds of thousands of dollars...
...Rock and roll collectors with a passion for memorabilia can turn the hobby into a nest egg," says Leila Dunbar, a former director of collectibles at Sotheby's Auction house, who now heads up her own appraisal firm...