MICHAEL JACKSON'S RHINESTONE GLOVE SELLS TO CASINO

Michael Jackson's famous white glove auctioned for $420,000 (price, premium, and tax) on November 21. The left-hand leather and rhinestone-studded glove is from his 1983 moonwalk dance at Motown's 25th anniversary TV special. It was bought by the owners of Ponte 16, a gambling casino in Macau. They plan to open a shrine to Jackson in the casino's lobby. Nine other Jackson items from the auction, including the Zombie shirt Jackson wore in the "Thriller" video, will be enshrined at the casino. The auction, by Julien's Auctions of Los Angeles, brought in more than $2 million.

BIG MONEY PAID FOR MICHAEL JACKSON IMAGE

An Andy Warhol silk-screened image of Michael Jackson sold for $287,500 at Sotheby's on May 13 this year. The pop star died on June 25. Then on August 18, Vered Gallery in East Hampton, N.Y., sold the very same Warhol image for over $1 million, according to Forbes magazine. An expert on Warhol's work says the high price was due to Jackson's death, not to a spike in interest in works by Warhol. Of course.

DON'T RUSH INTO BUYING MICHAEL JACKSON MEMORABILIA

A word of warning: 70 percent of the Michael Jackson autographs on eBay are forged or printed signatures, according to the International Autograph Collectors Club & Dealers Alliance (ADA-CC). Celebrities sometimes earn more dead than alive. Elvis Presley, the world's top-earning dead celebrity (so far), earned $52 million last year, according to Forbes magazine. Much of the money made by dead celebrities comes from music or art they created while alive. But some is from "manufactured" memorabilia, like visits to Graceland, souvenirs, use of the name and image, limited editions, jewelry, and more. But experts say that common Jackson memorabilia that has been going up in price will probably go down. One-of-a-kind items like costumes should stay high-priced. People were trying to scalp Michael Jackson's funeral tickets as soon as they were issued. They're another piece of memorabilia that some think will go up in price because only a limited number were printed.

Kovel.com Item of the Week

A lucky collector bought this Michael Jackson-signed Galveston guitar for $597 from a Heritage auction about two weeks ago. That was a buy. All Michael Jackson memorabilia will go up in value.

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MICHAEL JACKSON STOPS AUCTION

It costs to call off an auction the way Michael Jackson did last week.

The sale of Michael Jackson's memorabilia has been canceled. The auction, by Julien's Auctions in West Hollywood, was scheduled to start April 22, but the star changed his mind and wanted his belongings back. The auction had been well-publicized with ads, exhibitions, and a 900-page catalog. Jackson's company sued to stop the auction and the result was an agreement, not a trial. The auction house said it had spent $2 million preparing for the sale, so we assume the agreement (which was not made public) included a cash payment. Although few of us will ever have an auction of collectibles worth millions, it's important to know what happens when you take a consigned item out of a sale. Most contracts between seller and auction house either do not allow it or ask for cash to cover pre-auction expenses, the publicity value of the piece and more. Even at a house sale, removal of a large number of the top-priced items can lead to legal problems and a cash settlement. Be sure you have a contract when you're using anyone's services to sell your possessions. And be sure you read it before you sign it.