Michael Jackson’s iconic white glove has fetched an astounding $350,000 plus tax at an auction held last Saturday. The winning bidder, Hoffman Ma, a resident of Hongkong, considers this purchase, “a fairly good discount.” Ma, only 36 years old, is a huge fan of the pop sensation.

The rhinestone studded shimmering glove was worn by the legendary singer in 1983 and has since then became a signature item, with people dubbing Michael Jackson as The Gloved One.

The glove was earlier expected to fetch about $60,000 maximum. The auction was held at Julien’s based in LA.

Some of Michael Jackson’s other memorabilia also fetched quite a good rate, including the fedora hat seen in his Moonwalk video ($22,000) and his Bad jacket ($225,000).