PARIS, Sept 27, (Agencies): In a captivating auction event in Paris, Michael Jackson's legendary hat, worn just before his iconic moonwalk dance debut, found a new owner for an impressive 77,640 euros ($82,170). The black fedora, initially estimated to fetch between 60,000 and 100,000 euros, took center stage among approximately 200 pieces of rock memorabilia. However, the highest bid of the night went to a guitar once owned by the renowned bluesman T-Bone Walker, selling for 129,400 euros.

The historical significance of Michael Jackson's hat lies in its appearance during his electrifying performance of "Billie Jean" at a televised Motown concert in 1983 when he was at the peak of his fame. Moments after donning the hat, he introduced the world to his signature move—the mesmerizing moonwalk, a seemingly effortless backward glide while giving the illusion of walking forward. This auction once again demonstrates the lucrative market for music memorabilia.

Co-organizers Lemon Auction made waves last year with the sale of Noel Gallagher's guitar, famously smashed on the night Oasis disbanded in Paris amid a dispute with his brother Liam. The guitar fetched an astonishing 385,500 euros.

In recent times, auctions featuring items from the legendary Freddie Mercury, including the piano on which he composed "Bohemian Rhapsody," generated a staggering total of 46.5 million euros at Sotheby's. The auctions attracted bidders from an impressive 76 countries, underscoring the enduring allure of music history's treasures.