Michael Jackson’s iconic glove goes under the hammer

Michael Jackson’s fashion legacy is going under the hammer, with more than 100 pieces of clothing and accessories from his career going up for auction. The “Michael Jackson: The Fashion Legacy” evening auction will be part of Julien’s Celebrity & Pop Culture Experience, taking place Dec. 7-9 in Abu Dhabi.

Among the items is the rhinestone-covered glove Jackson wore while performing “Billie Jean” during his 1983 Motown 25 performance, where he debuted the moonwalk.

The shoes he wore during the performance are also being offered. The glove previously sold for $430,000 in 2009. Martin Nolan, executive director of Julien’s Auctions, says the auction house estimates it could fetch between $600,000 and $800,000 this time around, though the final price will be up to bidders.

“We can only estimate it based upon the item itself and you think about what it sold for before so $420,000 17 years ago, so we estimate it's 600[,000] to 800,000. But of course the public auction and the bidding public will determine the true value. Because people will be bidding from all over the world. Ultimately it will come down to two bidders duking it out, and eventually there will be one who is prepared to pay the highest price and will be the ultimate winner."

Another major item is the red leather jacket Jackson wore in the 1983 music video for “Thriller.” The loafers he wore in the video will also be offered. The jacket sold for $1.8 million in 2011. Nolan says Julien’s now expects it to sell for more than $10 million. “We certainly think it should sell for more than $10 million. When you think recently, Michael Jordan's shirt, Michael Jordan jersey sold for his final game sold for over 12 million.

You think about a pair of Ruby slippers from the 'Wizard of Oz,' 1939. There was seven pairs, four screen used. One pair sold two years ago for over 32 million." "There's only one 'Thriller' jacket. And it's much more relevant to the younger generations today," he said. "And so 10 million is probably a conservative expectation, which is incredible when you think about it.”

Nolan also points to the success of the “Michael” biopic, which was released earlier this year and earned more than $1 billion at the global box office, as helping bring renewed attention to Jackson and his memorabilia. “Obviously, 'Michael,' the biopic, which was hugely successful, and really introduced Michael Jackson and his music and his fashion to the world and to a whole new generation again. And so people are having a love affair with Michael. They're playing his music again. He's back in the charts. 17 years since we lost Michael."