The mechanism of magnetic levitation of an iron ball in a plastic box [S. Sasaki, I. Yagi, and M. Murakami, J. Appl. Phys. 95, 2090 (2004)]. was investigated quantitatively using measurement of the magnetic moment of the iron ball and ring magnet used in the levitation experiment. This phenomenon is very interesting not only as a physical phenomenon but also from the viewpoint of application. In order to better understand this phenomenon, we examined the method for controlling the movement of the iron ball. Through trial and error, we developed the equipment to observe the delicate movement of the iron ball from floating to falling over a short time (-1 min). Moreover, though it was not possible to perfectly float the iron ball with no contact, there was a clear indication of this possibility. © 2008 American Institute of Physics.