Michael Jackson: Going Once, Going Twice

The Jackson family memorabilia auction being held Thursday and Friday in Las Vegas drew roughly $500,000 its first day. Michael Jackson‘s mid-80s era, black-crested military-style jacket (left) went for $24,000 while his MTV Music Video Award for “We Are The World” sold for $16,000.

The auction is being held at The Joint inside the Hard Rock Hotel & Casino in Las Vegas, Nevada. Guernsey’s auction house is auctioning about 1,100 items of Jackson family memorabilia through Friday.

Jackson was spotted departing from London’s Heathrow airport bound for LAX on Friday (inset).

UPDATE: Two-day total sales reached $700,000

20+ pictures inside from the Jackson auction…