Elvis jacket, gun up for auction at singer's Graceland home

[August 14, 2015]  By Tim Ghianni

NASHVILLE, Tenn. (Reuters) - A jacket worn by Elvis Presley in the 1964 film "Viva Las Vegas" and more than 150 other items belonging to the late singer were due to go up for auction on Thursday evening as part of Elvis Week events at his Graceland home in Memphis.

Potential bidders lined up on Thursday morning for $20 tickets to get into the sale at the mansion where the man dubbed the king of rock 'n' roll died, said Jeff Marren, consignment director for Graceland Auctions.

"It's an exciting sale. I think it's going to do real well. It spans Elvis' life on screen and on stage. It could do as much as $1 million," said Marren.

One highlight of the auction, which will take place in the Graceland Archives Studio on the estate grounds, is Elvis' bone-colored, three-button, no-lapel jacket from the "Viva Las Vegas" dance scene with Ann-Margret, expected to go for an estimated $30,000 to $50,000, according to Graceland Auctions.

Other items on the block include Elvis' personal Walther PPK handgun, engraved "Elvis" and "TCB," meaning "taking care of business." Auctioneers expect that to bring in between $100,000 and $125,000.

Also up for bids: a "TCB" diamond and gold necklace given to Elvis by fellow Las Vegas entertainer Sammy Davis Jr., expected to bring in between $20,000 and $30,000, and a gold owl-shaped ring Elvis presented to a fan from onstage that is expected to bring in $15,000 to $20,000.

One of the higher priced items in the auction, a pale blue jumpsuit worn by Presley for early 1970s Las Vegas concerts, was withdrawn from bidding, Marren said. He said that was a common occurrence in the auction business.

Fans from around the world gather annually to celebrate the life of Presley, who died Aug. 16, 1977, in the bathroom inside his Graceland Mansion on Elvis Presley Boulevard in Memphis.

All the auction items are authenticated, and are from third-party collectors and not from Graceland archives, the auctioneers said.

The mansion and all the items inside the home are owned by Lisa Marie Presley, daughter of Elvis and Priscilla Presley, and are not for sale.

(Reporting by Fiona Ortiz; Editing by Doina Chiacu and Will Dunham)

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