Jackson’s Thriller Jacket Sells For $1.8 Million

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June 27, 2011 | 4:25am EST

The iconic black and red leather jacket Michael Jackson wore in his Thriller video has been sold for a massive $1.8 million.
The instantly-identifiable costume from the 1983 promo was one of two jackets Jackson used while shooting his horror-themed dance moves.

It was put up for auction in California over the weekend, and on Sunday it sold to a commodities trader from Texas for $1.8 million. The final selling price far outstripped the original estimate of $200,000.

The winning bidder, Milton Verret, plans to use the jacket to raise money for children’s charities, while a portion of the profits from the sale will go to the wildlife preserve where the King of Pop’s Bengal tigers reside.

The sale came a day after the two-year anniversary of the King of Pop’s death on Saturday.