Australian painter/sculptor Brett-Livingstone Strong persu...
The picture - which depicts Jackson sat in a fantastical room holding a book and wearing a frilled velvet jacket - was sold to Japanese businessman Hiromichi Saeki for a $2.1 million (£1.4 million) the same year (90).
The artwork was then acquired by toy inventor Marty Abrams in 1992 as payment for a debt owed by Hiromichi - and now Abrams is ready to sell the painting.
He has listed the item on internet site eBay.com in an auction which will end on 12 April (10).
Abrams claims the portrait was valued at $5.3 million (£3.5 million) in 2000, but is expected to bring even more at auction following the superstar's death last June (09).
He says, "I've had it an awful long time. With the positive response to his music and the movie about him after his death, we thought it was a good time to sell it and for the world to see it."