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A massive auction in Las Vegas of Michael Jackson and Jackson 5 memorabilia is now cleared for takeoff, as the deposed pop monarch has quietly dropped his suit and settled with the collection's rightful owners.:

"The matter's been resolved," Gregory Cross, a lawyer for Jackson, told Clark County District Court Judge Elizabeth Gonzalez. [...]

Included in the auction catalog are Michael Jackson's platinum award for the single "Rock With You," his black silk jacket with gold sequined epaulets and a 1987 contract for the purchase of the Santa Barbara County, Calif., ranch Jackson renamed "Neverland." [...]

Also included are a sketch of a young boy signed by Michael Jackson and dated 1994, stage costumes, microphones, drums, keyboards, and a "lutelike stringed instrument" that the catalog says has African origins.

Jackson's camp is remaining tight-lipped about the settlement details, but if yesterday's story in Page Six is to be believed, buried among the auction's various treasures and oddities were "portraits of naked kids and sex toys." And while an innocent hand drawing of a boy might not have been much of a bargaining chip, we imagine Jackson's counsel began to whistle a different tune when attorneys for the defense slapped down Lot #623: a painstakingly hand-colored edition of Down By The Ol' Naked Waterin' Hole: A Paint-By-Numbers NAMBLA Adventure Starring Bobby Daniels and the Frisky Boys.