The Auction of Michael’s Assets Has Been Stopped

The auction of Michael’s assets at Neverland—which had been planned for a long time—will no longer be held. Michael filed a lawsuit last month to stop the auction of the assets that he himself had arranged. While last week’s initial court allowed Julien’s Auction House to hold the auction, another court hearing was scheduled for today and a final ruling would be issued. Michael Jackson’s lawyer in this legal dispute accused Julien’s Auction House of violating the initial conditions. Under those conditions, Michael was allowed to personally choose the items for the auction and keep those assets he wanted to preserve out of the auction. Yesterday, the person responsible for holding the auction, Darren Julien, and the company MJJ Productions announced in a joint statement that they had agreed to stop the auction of Michael Jackson’s assets. These properties will be returned to Neverland. The terms of this agreement have not been disclosed. However, the display of these assets—which began in Beverly Hills on April 14—will continue until April 25. In the joint statement, it says: “Michael’s fans wanted these items to be kept in a museum instead of being placed in the hands of private collectors. Dr. Teme and Julien’s Auction House have made arrangements so that Michael Jackson’s fans can enjoy and share in Michael’s collections and his memorabilia for years to come.” There are rumors that a museum may be opened at Neverland and that the assets will be displayed to the public in their original home. Long before the auction news was announced, fans had shown their desire to establish a museum and place these items in it. Julien said that his company had spent around $2 million preparing for the auction, and the auction could have generated revenue of about $12 million for them. Attending the exhibition of Michael’s assets in Beverly Hills costs $20 per person, and the $50 catalogs and the luxurious $200 catalogs are still being sold. Darren Julien described the agreement reached as satisfying and profitable for both sides, and said that all issues and problems between them have been resolved: “From an artistic point of view, this was disappointing for us. This solution gives us time and peace of mind. Legal disputes are not enjoyable for anyone.” “When we were sued, our wish was to resolve this issue in its early stages. It was in our interest for this matter to be resolved. We continue to hold Michael in special respect. I think you can consider this auction the biggest auction that was never held.” Dr. Teme, Michael’s spokesperson, also said: “I think one day we will open a beautiful museum for Michael.” Part of the auction proceeds was supposed to go to MusicCares, an organization that helps musicians. The statement says that Michael Jackson (MJJ Productions) and Julien’s Auction House will each make a significant contribution to this charity. Source: eMJey / CNN / NY Times / Reuters / AP