Elvis Presley’s Revolvers Sell for World Record Prices
05/05/2017
By Joel Kolander
A King’s Ransom for The King’s Revolvers
ROCK ISLAND, Ill – Two of Elvis Presley’s lavish revolvers sold for world record prices in a May firearms auction hosted by Rock Island Auction Company. A highly embellished Smith & Wesson 19-2 revolver, clearly seen being held by Elvis in a period photograph, brought $195,500, and a similarly decorated Colt Python revolver sold for $172,500. Each price is a world record for its respective model. They were followed across the auction block by the King’s diamond and ruby studded Shelby County sheriff’s badge, the original Elvis-signed contract to purchase Graceland, and numerous personal documents also signed by Presley.
“We had high hopes for these incredible firearms, and our collectors did not let us down,” said RIAC President Kevin Hogan. “It’s such a huge honor to be entrusted with the possessions of an American legend, but we also had a lot of fun with it and everyone here did as well. Half an hour before Elvis’ items sold, there wasn’t a seat to be had in our auction hall. It was absolutely electric with anticipation.”
Remaining days of the auction will feature thousands of additional items, some expected to sell at even loftier prices, as well as a large collection of machine guns. The auction will continue through May 7 and bids may still be placed with the auction house on remaining items at their website www.rockislandauction.com.
About Rock Island Auction Company
Rock Island Auction Company is the world’s #1 auction company for firearms, bladed weapons and militaria. Founded in 1993 by its current CEO Patrick Hogan, RIAC continues to lead the industry with record sales numbers and their extensive and beautiful marketing efforts. Their 86,000 square foot facility hosts 8 auctions each year. They actively seek consignments, be it a single weapon or a collection of hundreds, a thousand dollar item or one million. For more information, please visit www.rockislandauction.com or call 1-800-238-8022.
What is the buyer’s premium (B.P.)?
Almost every firearms auction has a buyer’s premium that is charged to winning bidders. A Buyer’s Premium is the amount added to the winning bid amount (hammer price). The B.P. is used by the Auction Company promote the auction and to help defray the auction expense costs. The B.P. at RIAC is 17.5%. It is reduced to 15% if you pay by cash, check or wire transfer. For example, if the Winning Bid Amount is $1,000 and you pay by check, the Buyer’s Premium would be $150 (15% of $1,000). The Total Purchase Price is then calculated as the Winning Bid Amount + the Buyer’s Premium, or $1,000 + $150 = Total Purchase Price of $1,150, plus any shipping or taxes.
