Yep, McQueen's very own waxed cotton Belstaff Trialmaster Professional riding jacket:
I had a Belstaff jacket just like it when I was young. All I needed beyond that was looks, talent, charisma, and riding skill and I could have been just like Steve.
I'll be surprised if that jacket doesn't bring some very serious money, more than the high auction estimate of $5,000. It may not be the very same Belstaff* jacket Steve's wearing in the ISDT picture above but it's close enough. For a die hard motorcycle enthusiast with money to spend the jacket offered would be quite and item to display in the den. And if that fellow had any guts and the jacket fit him he'd go riding in it at least once. I hope it goes to a worthy buyer.
Update: Nov. 12, 2006
Steve McQueen's old jacket did a little better than the auction estimate. The final selling price was $28,000. That tells me two things (1) Whomever did the auction estimates didn't know much about motorcycle history and the real power of the McQueen racing image to old riders.
*Update: April 29, 2006: I've been informed that the jacket McQueen is wearing in the photo is in fact a Barbour International Jacket jacket and not a Belstaff. No matter, if you want to look just like Steve you can visit British Motorcycle Gear and buy your own for way less than $28,0000.