The famed black-and-red calfskin jacket that Michael Jackson wore in the classic "Thriller" video has sold at auction for $1.8 million. Darren Julien, president and CEO of Julien's Auctions in Beverly Hills, says the jacket was purchased Sunday, June 26, 2011, by Milton Verret, a commodities trader from Austin, Texas. (AP Photo/Matt Sayles)
Prior to today's auction of music-related memorabilia, experts estimated the jacket would sell for $200,000 to $400,000.
The jacket was purchased by Milton Verret, a commodities trader from Austin, Texas, who told reporters it would be part of a traveling exhibit and be used to raise money for children's charities.
A portion of the auction proceeds will benefit The Shambala Preserve in Acton, where Jackson's two Bengal tigers, Thriller and Sabu, have lived since 2006.
Jackson died on June 25, 2009 from an overdose of the surgical anesthetic Propofol. He was 50.