Music enthusiasts and Michael Jackson fans around the world have a reason to cheer. A sought-after piece of music memorabilia will be hitting the auction block this fall in Paris. The iconic black fedora worn by the legendary pop icon just before his legendary moonwalk performance will be up for grabs during a prestigious auction in the French capital in September, reported AFP.

Fans around the world first caught a glimpse of the moonwalk during a televised Motown concert in 1983. During his performance of the iconic hit, Billie Jean, Michael Jackson effortlessly whipped off his hat and performed the step that soon became revered as the moonwalk, an indelible part of pop culture history. Therefore, it comes as no surprise that the estimated value of the black fedora ranges between 60,000 and 100,000 euros (Dh238,744-Dh404,028), the report added.

The number may sound mind-boggling, but auctions involving music memorabilia often amount to several thousands of dollars. Here is a list of the five most famous music memorabilia and how much they sold for at auctions.

Rolls Royce Phantom V 1965 of John Lennon: $2,898,724 (Dh10,646,984)

While the Rolls Royce Phantom V 1965 is technically a car, it is an important element in the legacy of the Beatles. Owned by John Lennon, the Rolls Royce is painted in psychedelic patterns and floral motifs, much to the enragement of purists, reported Rolling Stones.

Over the years, however, the car came to be seen as a symbol of the swinging sixties and even a metaphor of sorts for the inimitable identity of the Beatles. It was bought by Canada’s Royal British Columbia for almost three million dollars (Dh11,018,970)

John Lennon’s handwritten lyrics: $1,344,477 (Dh4,938,250)

The second most expensive music memorabile is also a Beatles souvenir. Lyrics of the classic “A Day in the Life” were written separately by Paul McCartney and John Lennon.

The lyrics by Lennon were based on the daily news, white McCartney chose to look back at his youth for inspiration. Therefore, it comes as no surprise that the lyrics of the song – ranked by Rolling Stones as the greatest song ever written by the Beatles – sold for nearly 1.5 million dollars (Dh5,509,485), reported Fox News.

Eric Clapton's ‘Blackie’ Guitar: $874,092 (Dh3,210,539)

For nearly 15 years – from 1970 to 1985 – the legendary musician Eric Clapton chose his beloved "Blackie" guitar as his constant companion in the studio and during his solo performances. The iconic guitar was a black Fender Stratocaster and when Christie's auction house put it up for grabs in 2004, Blackie witnessed a bidding war, selling for $874,092 (Dh3,210,539), nearly five times higher than initially anticipated sale rate.

1963 Rolls-Royce of Elvis Presley: $182,385 (Dh669,898)

Interestingly, another music memorabile that was sold for astounding rates was a car — the 1963 Rolls-Royce owned by Elvis Presley, reported biltmoreloanandjewelry.com.

The super exclusive vehicle, which was owned by the likes of Queen Elizabeth II and the Hong Kong Governor, cost $182,385 in 1986.

Original Artwork ‘London Calling’ by The Clash: $119,380 (Dh438,481)

London Calling was the third album of the iconic 70s English band The Clash, which specialised in punk rock music. The original album was sold at Bonhams for $119,380, the biltmoreloanandjewelry.com report added.

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