Michael Jackson's 'Bad' jacket sold for USD 298,000

Michael Jackson's iconic black "Bad" jacket, which he wore on his first solo tour, sold for $298,000 late Saturday, about three times its original asking price, at a New York auction which featured items from music legends Prince, Madonna, John Lennon and others, officials announced.

Julien's Auctions had an original asking price of $100,000 for the jacket that Jackson signed on the back with a silver permanent marker and was worn throughout the singer's "Bad" world concert tour from 1987-89.

It is one of the late singer's most iconic costume pieces alongside his red and black leather "Thriller" music video jacket that sold for $1.8 million at auction in 2011.

Jackson has become one of the most collectable celebrities since his sudden death in 2009 in Los Angeles at age 50 from an accidental overdose of an anaesthetic he was using as a sleep aid.

The "Bad" jacket was sold by Texas businessman and philanthropist Milton Verret along with almost 100 other items from his large rock 'n roll memorabilia collection.

The Icons & Idols: Rock-N-Roll auction, which announced the results of the two-day auction late Saturday, also featured electric guitars played by Bob Dylan, Paul McCartney, Eric Clapton, and U2 band members The Edge and Bono.

A guitar Prince used in his final stage performance in 2016 sold for $156,250 and his motorcycle jacket he wore in the 1984 movie Purple Rain sold for $37,500, an official said.

Part of the auction proceeds will go to the MusicCares charity arm of Grammy Award organizers the Recording Academy that provides health and other services to musicians.

(With inputs from agencies.)