Rock Island Auction Company

Lot 474: Historic Elvis Presley Signed Contract to Purchase Graceland

Auction Date: May 5, 2017

Unique Historic Elvis Presley Signed Contract to Purchase Graceland

Price Realized:
Estimated Price: $40,000 - $60,000

Unique Historic Elvis Presley Signed Contract to Purchase Graceland

Manufacturer: None
Model: None
Type: Other
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Item Views: 3360
Item Interest: Average
Catalog Page: 168
Class: Other
Description:

Offered here is an iconic document signed by The King of Rock & Roll, Elvis Presley, and both of his parents: the purchasing contract for Graceland. This is one of the most historic pieces of Elvis memorabilia to be offered for public sale. From 1957 until his death in 1977, Elvis called Graceland home. Graceland will forever remain synonymous with Elvis, rock & roll’s first star and one of the most important cultural icons in American history. This real estate purchasing contract for Graceland is dated 17 March 1957, is two pages (front and back) and measures 8 ½ inches by 14 inches. The back of the contract is signed by Elvis, Elvis’ parents, Vernon and Gladys, and Elvis’ real estate agent, Virginia Grant. The contract is handwritten in red ink, and Virginia Grant calls it the "first contract." Accompanying the contract is a 26 March 1957 dated refund deposit receipt for $1,000 from Grant to Elvis. Two included letters written by Grant on Virginia Grant Realty letterhead and dated 25 May 1995 authenticate the contract. According to Grant, the contract had been in her possession from 21 March 1957 until 25 May 1995. A signed copy of Virginia Grant’s "How Elvis Bought Graceland," her personal account of the home sale, is also included. An included notarized affidavit from Tomas Morgan, Jr., a friend to Elvis and member of the Shelby County Sheriff's Department, also authenticates the documents. Requested by Elvis' father, Morgan coordinated security for Elvis' funeral. The now legendary plantation style home in Memphis was originally bought by Elvis for $102,500 when he was just 22 years old. As part of the offer, he traded the Presley’s home at 1034 Audubon Drive for $55,000. The remainder of the purchase was funded by a $10,000 cash deposit and a $35,500 mortgage. Boasting over 600,000 visitors per year, Graceland is the second most visited home in the country, after the White House.

Rating Definition:

Fine with clear Presley family signatures. If you ever wanted a piece of Graceland, here is your once-in-a-lifetime opportunity!



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