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Michael Jackson memorabilia sells big

June 29, 2009 12:00:00 AM PDT
An Eyewitness News Poll found nearly a third of Southern Californians own some sort of Michael Jackson memorabilia. Collectors are snapping up signed record albums, clothing and other merchandise owned by the late singer. Authentic collectibles can be very expensive.How much would you pay for a Michael Jackson memorial program? Twenty dollars, maybe?

What about chocolate from Michael and Lisa Marie Presley's wedding? Do you have a few hundred dollars?

And what would you fork over for a one and only sword from the film "Captain EO"? How does $25,000 sound?

Just a week ago these items and others would have gone for half the price.

"It has been like nothing I have ever seen, and I've been here 26 years, we've had this store," said David Elkouby. "And it's just been 99 percent Michael Jackson requests."

Dave Elkouby owns Starworld, a celebrity memorabilia store on Hollywood Boulevard. After this weekend he is left with just a small collection of Jackson items, and the prices are going up.

"They used to be like $20 for things, and now they're like $45 and up," said Jackson memorabilia collector Andrew Robles.

In Las Vegas a Michael Jackson auction was held on Friday. The 21 items on sale were expected to bring $10,000, but that estimate was before Jackson's unexpected death. The final figure was more than $200,000.

A black fedora worn by Michael Jackson that's been signed by Jackson is probably worth anywhere from $2,500 to $3,000. You can find plenty of Jackson merchandise on eBay and Craislist, but be careful, not everything you see is authentic.

"Especially with the advent of eBay, there's so much fraudulent stuff," said Elkouby. "You have to be careful, you have to be educated. You need to know where you buy. "

But if you buy right, Elkouby says it could be a good investment.

"He's going to be up there with the Marilyns, the Deans, the Presleys. That's it," said Elkouby.

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