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The biggest event at Fashion Week in Milan wasn't the debut of a new line or the arrival of the next great designer. Rather, it was a star-studded auction hosted by Janet Jackson for the benefit of the American Foundation for AIDS Research (amfAR). All told, the auction raised a total of $1.1 million for the charity, which is an organization that funds scientific inquiry and research in to HIV and AIDS.

The first highlight of the event — which cost anywhere from $2,200 to $11,500 just to get in the door — was the sale of a pair of Swarovski crystal-studded boots that were owned by the late Michael Jackson. Janet's brother had planned on wearing the footwear on stage at London's O2 Arena during his planned residency there, and they fetched a total of $14,650.

The second highlight came later in the evening, when Kanye West (with girlfriend/model Amber Rose by his side) got into a bidding war with Diesel designer Renzo Rosso over a custom-made leather jacket produced by the DSquared2 label. Rosso ultimately prevailed with a winning bid of $52,740. (Luckily, Rosso didn't have to take the stage to formally accept the jacket.)

Janet Jackson has been in Milan for a week working at a number of events for amfAR. But she hasn't forgotten about her day job, as her new single "Make Me" is now for sale via download. Meanwhile, sales are already through the roof for "Michael Jackson's This Is It," the film culled from the hours of footage recorded during rehearsals for Michael's O2 residency. That film comes out on October 28 for two weeks only — and tickets are clearly going fast.

By James Montgomery and Rachel Josue

Have you ever wished that, while practicing the Moonwalk in your bedroom, you had Michael Jackson's magical white glove to complete your best "Billie Jean" performance? Well, now you can — provided you can pony up the estimated starting bid of $6,000 to $8,000.

Today, Julien's Auctions, the "premier auction house in high-profile celebrity and entertainment auctions" and the folks behind last year's Osbourne auction, announced that it will auction off more than 2,000 pieces of Michael Jackson memorabilia in April of next year. From April 14 to April 20, items will be on display at the Beverly Hilton hotel in Beverly Hills, California. Then, starting on April 21, the gavel will fall.

Which means that, if you've got the loot, the entry gates to Neverland Ranch (estimated starting bid: $10,000 to $20,000) can soon keep the paparazzi away from your front door. This potential sale begs the question: Who or what will then keep the riffraff out of Neverland, considering Jacko saved it from foreclosure last May? Read more...

Most civilians scrimp and save to upgrade from that tiny speck of a diamond ring or earring to something marginally bigger. But when you're hip-hop royalty, that 10-carat ring you bought last year is already old news by the time you wear it to the VMAs — which means it's time to ditch it for something bigger, shinier and, above all, more expensive.

If you've been waiting your whole life to get a shot at Lil Jon's 12-pound "Crunk Ain't Dead" pendant, your day is coming. The Guinness Book of World Records' largest diamond pendant is among a host of legendary hip-hop bling that will go under the gavel in March at the Hip-Hop's Crown Jewels auction in New York, which will also feature signature pieces from 50 Cent, Notorious B.I.G., Missy Elliott, Kanye West and Diddy.

Read more about the bling auction here.

By Sarah Muller

The Miley Cyrus auction is well on its way to bringing in a nice sum of cash — especially since highest bidder gets to meet her. And the money goes to a worthy cause: the Pappy Cyrus Family Foundation, which helps needy kids. If you could, how much would you pay to meet her? Let us know!