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Elvis Auction in Downtown Memphis Makes $654,740

From cars to clothes, even the King's hair, it was Elvis mania on the auction block Saturday night.
MEMPHIS, TN - From cars to clothes, even the King's hair, it was Elvis mania on the auction block Saturday night. A special Elvis Week auction took place at the Peabody.272 lots were up for auction. A packed house showed up to bid on items.

There were Elvis' vinyl records and several of the King's show-stopping jumpsuits on sale. The Dallas-based auction house says it's a rare collection of memorabilia.

“Because of this being the 75th anniversary of the King, the top Elvis collectors in the world have decided to part with their treasures,” said Doug Norwine, with Heritage Auction Galleries. “We have a signed deed to Graceland. We have his white piano that was in Graceland for years and years. We have his 1955 RCA recording contract where he changed from the regional singer to the international superstar.”

The most talked about item, Elvis famed white piano, failed to sell Saturday night. It had a starting price of half a million dollars and was valued at up to a million dollars. Auction organizers say they think the economy kept people from bidding.

When it was all over, the Elvis gear up for auction brought-in more than $650,000. Someone bought a jar of Elvis' hair for nearly $17,000.

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