King of Rock Elvis Presley’s things sold for $1.5 million in memorabilia auction

"Elvis Tribute Artist" Jesse Aron of Green Bay, Wisconsin performs during the Collingwood Elvis Festival on the 40th anniversary year of singer Elvis Presley's death, in Collingwood, Ontario, Canada July 29, 2017. Picture taken July 29, 2017. REUTERS/Chris Helgren - RTS19RQW

Moneycontrol News 

Rock and roll superstar Elvis Presley's 'Presley week' celebrations at his house in Memphis recently experienced one of the most exorbitant auctions of all time, as per a BloombergQuint report.

Graceland, Presley's residence, which also happens to be the second most visited house in the United States after the White House, recently got a makeover after being acquired by Authentic Brands Group LLC.

As part of the celebrations commemorating the pop icon's greatness, a wide array of Presley memorabilia was on the block that closed on August 12 and raked in a total sum of USD 1.5 million.

A man watches a video of Elvis Presley performing during the grand opening of the new "Elvis Presley's Memphis", a $45 million, state of the art entertainment and museum complex, in Memphis (Courtesy: Reuters)

Some of the signature items at the auction included a 'Blue Armadillo' jumpsuit worn by Presley for stage performances that got sold for USD 250,000.

As per a statement by Jeff Marren, the consignment director for Graceland Auctions, the stage-worn suits tend to fetch the most money as only a limited number of them are thrown open for sale as collectibles.

The “Blue Armadillo” jumpsuit - which is a sleeveless 1970s bell bottoms style jumpsuit with matching jacket and rhinestone details was the most expensive item that was sold on the auction.

Other items that attracted high bids included Presley’s iconic jewellery that comprised of a gold and diamond ram’s head necklace that was sold for USD 138,750 and a gold and diamond guitar-shaped ring that was bought for USD 112,500 which is way above its estimated USD 20,000 bid price.

The auction also sold several of the rock and roll star’s legal documents-including a contract for performing at shows and also some of his weapons: including a 32 semi-automatic pistol for USD 10,000, an M1 Rifle for around USD 9,500 and a Spanish percussion rifle for USD 4,500.

The most in demand item, with 45 bids, was a reel of Elvis Presley’s post-Army press conference, and right behind that with 44 bids was a note Presley wrote by hand: “When you’re not in love your [sic] not alive. God is love, E.P.” which was sold for a whopping USD 27,500.

The note that was auctioned at Graceland (Courtesy: Graceland Auctions)

Despite the jaw-dropping numbers, this is by no way the highest numbers for a Presley merchandise auction.

Previously, a red Lockheed Jetstar owned by him sold for USD 450,000 and his white piano, currently on sale, is estimated to go up for somewhere between USD 2.5 million to 5 million.