Michael Jackson's White Glove Sold for $420,000

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Michael Jackson's white glove he used while premiering his moonwalk dance in 1983 has been sold yesterday for $420,000 (including tax). The lucky new owner is Hoffman Ma from Hong Kong.

The item was the most valuable from a collection of memrobillia at the Hard Rock Cafe in Times Square. Its pre-auction estimate was $40,000 to $60,000.

"It was a fairly good discount," said Ma, a 36-year-old Jackson fan who bought the pop-music treasure on behalf of the Ponte 16 Resort Hotel in Macau.

Watch a video of Michael Jackson in 1983 performing Billie Jean with the white glove: