A speculating buyer is betting that Michael Jackson's portrait will have more than fifteen minutes of fame. On Aug. 18, the Vered Gallery in East Hampton, N.Y., sold a silk-screened image of the superstar, created by pop art icon Andy Warhol in 1984, for "a little more than $1 million," says Janet Lehr, gallery co-owner. The same piece sold for $287,500, with commissions, at Sotheby's in New York on May 13.