Perhaps one of the most iconic piece of music memorabilia ever auctioned, Michael Jackson's red jacket worn for his "Thriller" video sold for a record price of $1.8 million at a weekend auction. Bidders traveled from as far as China and New Zealand to attend the sale in Beverly Hills, according to Julien's Auctions, and competed aggressively with international bidders on the phone and online.

The winner was Milton Verret of Austin, Texas, who told the excited crowd that he would like to display the jacket at his city's Dell Children’s Hospital. Verret says he purchased the piece to raise money for children’s charities and hospitals around the world in the spirit of the King of Pop, Michael Jackson.

Jackson's 1980s “Thriller” video became the top grossing single and the highest selling album of all time. The black and red style of the jacket became so identifiable with Jackson’s groundbreaking extended short film video for the single that the singer continued to use jackets of the same design when performing the song “Thriller” for the duration of his career.

A portion of the proceeds from the sale of the jacket will benefit The Shambala Preserve where Jackson’s beloved Bengal tigers “Thriller” and “Sabu” reside and have been living there since 2006.