Hendrix Jacket: Nearly $50,000

By Stephen M. Silverman

10/30/1997 at 12:00 AM EST

The Hard Rock Cafe reportedly paid nearly $50,000 yesterday for one of Jimi Hendrix's psychedelic jackets, nearly double the price that the green silk garment was expected to fetch. The 1967 jacket, emblazoned with pagodas and dragons, was part of a rock memorabilia auction held at Sotheby's London and went on the block exactly one day after the 30th anniversary of the great guitarist's death at the age of 27. "Fittingly," a Sotheby's rep told Reuters, "the oriental style jacket was bought by the Hard Rock Cafe and will now take pride of place in the company's newest restaurant in Manchester (England)."