The news of Michael Jackson's death has caught many people by surprise. Right after the news were released, the memorabilia market instantly heated up. Copies of his best-selling album, "Thriller", worth normally US$10, were fetching 5 to 15 times more thereafter!
Bizarrely, a single Cheeto, a cheese-flavored, finger-sized snack, that purportedly resembled Jackson doing the moonwalk was sold for $35.18 on eBay on Jun 25th!
People are so overcome with emotion that they are willing to pay almost anything rather than thinking they should wait for the spike in prices to disappear.
Other groups of people are now either looking to cashing in all things Jackson related or investing (buying) with the hope of holding on to it for future gain.
But this will come back to reality soon, most likely when the news stop producing Jackson's headlines or when people get tired of it. People are often fickle minded after all! They will move on to the next major headline after some time.
For the matter, anyone thinking of Jackson memorabilia as an investment, or with a spare copy of Thriller gathering dust in the basement, may want to move it now because the market is never likely to be this hot again.
However, if someone does hold on to something genuinely unique or rare items of Jackson's, then perhaps there is a higher chance that these unique or rare items can fetch a much higher price in the future. The same principle, however, is unlikely applicable to something like Jackson's Albums (eg., Thriller) though, where there were huge production supply in the market.Also watch out for items that are fake or scam!
Ultimately, people should return to their senses.
Nevertheless, Michael, thank you for bringing to us your special brand of music and entertainment that will live with us forever!
For those who would like to catch a glimpse of one of Jackson's final moments, watch
this video of Michael Jackson's last concert rehearsal on June 23 2009, two days before his death, at the Staples Center in Los Angeles.
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