In today’s economy, everyone is feeling the pinch... and even the King of Pop is not immune. Known for his lavish and frivolous spending sprees, these habits have come back to bite him. In order to get back on stable financial ground, Jackson apparently planned to liquidate approximately 2,000 of his possessions in a public auction.
The auction, which was to be conducted by Julien’s Auctions, was the point of much controversy. In March, Jackson's MJJ Productions sued the auction house in order to stop the sale from moving forward, contending that the items are being sold without his permission.
But on April 15, Reuters reported that the auction, originally planned for April 22-25, was officially cancelled after the two parties reached an agreement whereby Jackson's possessions will be returned to him. (Click here for full story)
Although the auction has been cancelled, the public Beverly Hills exhibit is planned to continue through April 25. Click ahead to see some of Jackson's big items that almost hit the market!
By Paul Toscano
Originally Posted 10 Mar 2009
Updated 15 Apr 2009