Michael Jackson
Michael Jackson's 'Thriller' Jacket Getty Images

Darren Julien, president of Julien's Auctions says that he expects King of pop Michael Jackson’s ‘Thriller’ jacket to fetch at least $200,000 by the end of auction on Sunday.

Jackson signed the leather jacket as a present to costume designers Dennis Tompkins and Michael Bush, and hoped it would be used as a jumping off point for his wardrobe for future concerts, a report in The Hollywood reporter said.

The Thriller jacket isn’t the only iconic item that will go under the hammer.

A wig that was worn by Jackson at the press conference announcing his This is It tour, and a shirt worn in the Scream music video along with a mailbox can also be bid on.

Initially it was believed that Jackson's Thriller jacket could go for up to $400,000. Julien at that time believed that it could possibly get even more.

Other items from Elvis Presley, Eric Clapton, Frank Sinatra, Johnny Cash, Madonna, Bruce Springsteen and the Beatles are also up for sale, the report said.