Los Angeles, 13 July 2011, Art Media Agency (AMA).
Michael Jackson took a great interest in art and assembled a major collection, also creating pieces himself. His collection is very valuable and it seems that his heirs wish to sell it. However, two problems have arisen: the first concerns the estimated value of the artworks and the second is the question of ownership.
The collection was initially estimated at $87.7 million but the lawyers in charge of the estate refuse to rush the sale in order to avoid mistakes concerning the total value of the pieces. Brett-Livingstone Strong, Michael Jackson’s artistic mentor, has been urging for the sale to continue, because of his supposed rights on these artistic creations. He also claims that he is an heir. He is said to have started negotiations with an unknown potential buyer. It is hard to obtain precise information and ascertain whether the sale took place or not.
There is speculation that the transaction concerning the 182 pieces amounts to $87.7 million, but other experts like Eric Finzi have estimated the collection at $900 million. Even after his death, Michael Jackson remains controversial and attracts attention.
The second issue is that the rightful heir has not been identified. A will, which has been questioned by experts, designates Brett-Livingstone Strong as the heir of the collection. However, if the will is declared invalid, the collection will belong to the Jackson family.
The only certain fact is that a portrait of the artist, The Book, was sold for $2.1 million in the 1990’s. The collection’s total value should be considerable, but at the moment, it is uncertain whether the sale occurred or not.