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Michael Jackson Memorabilia Sells for $205G at Vegas Auction

A crystal-studded shirt worn onstage by Michael Jackson: $52,500. A young Jackson's painting of Mickey Mouse: $25,000. Owning a piece of a pop icon who died before his time: Priceless.

Or, at least, very expensive.

Twenty-one items once owned by Jackson sold at auction Friday for a total of $205,000, dwarfing the auction house's early conservative estimate of $6,000 for the collection.

The estimate was made before Jackson died unexpectedly Thursday at a Los Angeles hospital. On Friday, the items took on new meaning, and likely new value, as collectors and a few fans gathered at the Planet Hollywood hotel-casino with the hope of walking away with a piece of the late King of Pop.

TOPIC: Click here for full coverage on Michael Jackson from FOXNews.com

"I grew up with him," said Larry Edwards, a 55-year-old Tina Turner impersonator from Las Vegas who came to the auction aiming to buy the primary-colored depiction of an African-American Mickey Mouse, signed by "Mike Jackson."

"It's so unique, and it means even more to me that it's so soon after his passing," he said.

Edwards said he was prepared to spend $1,000 but was elbowed out at the get-go by an opening bid of $1,500. The painting sold for $20,000, plus a 25 percent commission for the celebrity auction house, Julien's Auctions.

The biggest ticket item went to Glenn Johnson, a real estate developer and amateur collector from Houston. After a fast-paced bidding war under the glare of television news cameras, Johnson edged out another bidder to take home a Swarovski crystal-beaded shirt worn by Jackson during his 1984 Victory tour.

RELATED: Click here to read more on the death of Michael Jackson.

Johnson said another king was on his mind as the price climbed.

"I see Elvis Presley costumes go for a quarter of a million these days," Johnson said. "I'm hoping this will be an investment."

The items for sale Friday came from a collection owned by David Gest, the producer and promoter once married to Liza Minnelli. Jackson introduced the couple and was best man at their wedding.

Among the lot were handwritten lyrics of Jackson's hit song "Bad," an album cover signed by each member of the Jackson 5, and a handwritten note from Jackson to an unidentified "Greg."

"Thanks for a magic moment in my life, I hope it was the same for you, please come visit me at Neverland," the undated note reads. "Lets hope this is the beginning of a lovy friendship and never lose your boyish spirit its imortal."

The note sold for $18,750 to an unidentified bidder on the phone.

The annual two-day celebrity sale was scheduled for months and promoted mainly for its large number of Elvis Presley and Marilyn Monroe items.

Julien Auctions chief executive Darren Julien said he worried some would accuse him of profiting from Jackson's death.

"I thought about pulling the lots, but we have people bidding from all over the world," he said. "Everything we did was to honor Michael Jackson."