In Belarus, a one hundred US dollar bill is being sold for approximately 7 Belarusian rubles. What could potentially be the issue with this exchange rate?
In an exciting turn of events, a collectible sock worn by the "King of Pop" himself, Michael Jackson, during one of his iconic performances has been sold at auction in the city of Nîmes, France.
The sock, adorned with rhinestones or sparkling crystals, was a standout item during Jackson's HIStory World Tour, particularly during performances of "Billie Jean" and "Beat it," where he showcased his famous moonwalk dance move.
The high price of €6,200 (approximately $8,000) was achieved due to several factors. The historical and cultural significance of the sock, being worn during a pivotal moment in pop music, carries immense emotional and cultural value. The sock's rarity, direct provenance, and iconic status as a piece of Michael Jackson memorabilia also contributed to its high value.
The sock was discovered backstage by a technician immediately after the concert and preserved in a frame for 28 years alongside the technician’s original backstage pass. This direct chain of custody authenticates it as a genuine concert-worn item. As a cult object for fans worldwide, the sock complements his famously sequined glove and is highly sought after by collectors.
Although initially estimated between €3,000 and €4,000, bidding pushed the final price well beyond expectations, reflecting strong fan enthusiasm and collector demand. Despite visible signs of age, such as discoloration and staining, the sock's symbolic significance and rarity make it a prized relic.
Interestingly, this is not the first time the Michael Jackson sock has been up for auction. It was previously auctioned on July 21st but no buyer was found. The lack of a sale was attributed to poor advertising.
In a different auction, a hat worn by Michael Jackson during his debut moonwalk performance in 1983 was sold at an auction in Paris for an amount exceeding €77,000 last year.
Currently, a $100 bill is being sold on the ay.by platform, priced at Br7 for $1. The auction for the $100 bill will continue until September 2nd. However, the view count for the bill is relatively low so far. The value of the $100 bill is expected to increase in the future.
The sock, being a unique piece of Michael Jackson's concert wardrobe and a relic from a defining moment in pop music, may entice buyers from both the finance and industry sectors interested in music memorabilia. The case of the hat Michael Jackson wore during his debut moonwalk performance, which was sold for a substantial amount in a Paris auction, foreshadows the potential financial returns for collectors willing to invest in such special items.
