The Guernsey’s Jackson Family Auction at the Las Vegas Hard Rock Hotel & Casino brought between $1.5 to $2 million dollars earlier this month. In a market where Rock ‘n Roll memorabilia prices are sizzling, the Jackson results seem lukewarm at best. Hyped by Guernsey’s President Arlan Ettinger, who compared the sale event to an auction of Elvis Presley memorabilia he conducted in 1999, Ettinger said this auction “Is certainly in that sphere of landmark, high-profile, extraordinary auctions.” Or not. One hundred dollars for a platinum record of
Billie Jean seems the opposite of extraordinary.
The first day of the two day sale which included a bid for $20,000 for a set of gold and platinum albums for
We Are the World, and $11,000 for the gold disc of the Jackson 5 hit
I Want You Back, brought a mere $500,000. The second day of the 1,100 item sale brought the tally up to an estimated $2million. The ownership of some of the auction contents had been contested by Michael and his sister Janet. During a last minute hearing the day before the auction was to begin, a confidential settlement was reached, with Guernsey’s agreeing to pull some of the disputed items so the auction could begin on schedule.
The present owners claim to be thrilled with the $2 million sales results of a collection for which they paid $7 million, stating that they are . . . “excited for the children’s charities that will be benefiting from the outcome. . .” The fact that they still have over 2,000 additional Jackson items might also be some small consolation as well.
