A prototype of the same jacket went for $21,875.
The five-time Grammy winner, who turns 55 on Sunday, is selling more than 1,000 of the costumes she wore on stage, on tour, on red carpets and in music videos.
A single hoop earring with a key that she wore on tour in 1990 and at multiple other appearances was bought on Friday for $43,750.
The singer's most famous outfit — the black leather bustier that was ripped, briefly exposing her breast at the 2004 Super Bowl halftime show — is not included in the auction.
A portion of the auction proceeds will go to the Christian child sponsorship group Compassion International. Jackson will also give 100% of sales of a limited edition three volume set of auction catalogues, offered at $800, to the non-profit.
The sale concludes on Sunday.