Being billed as the largest auction of Jackson family memorabilia ever, the Hard Rock Hotel and Casino prepared for what they believe will be millions in dollars in bids for the assorted items.
"This really is a once-in-a-lifetime occurrence," said Arlan Ettinger, president of auction house Guernsey's. "I cannot imagine that somewhere down the road some other collection could come out of the woodwork and rival this. It's not going to happen."
The collection is now owned by Universal Express Inc., which bought them from Henry Vaccaro, who's owned it since 2002 after a failed business venture with Jackson, at which time he took possession of the merchandise. Universal paid $5 million for it - which is a bargain - and paid $2 million to have it transferred to Las Vegas from New Jersey where it was stored. The items were insured by Lloyd's of London for $100 million.
A court battle over the goods ended a couple of weeks ago in a settlement, clearing the way for the sale of the items and auction.
Those who want to bid online can do so through eBay's (EBAY) live auction site and liveauctioneers.com. The auction will be on Wednesday and Thursday.
Comment Preview