Lisa Marie and Hound Dog II, the two jets purchased by Elvis in 1975, are the ones that would be coming under the hammer.
The announcement was made on Friday by Beverly Hills auction house Julian Auctions. Bidders would also be given the chance to occupy the piece of land near to Graceland as the parking lot for the immobile aircrafts. Currently, the jets are residing outside Graceland and have been staying flightless since its last journey in the late 70s.
Elvis bought the 28-seater Convair 880 in 1975 for $250,000 and later re-named it after his daughter as Lisa Marie.
He purchased the second jet also in the same year, as a substitute for Lisa Marie while it was undergoing a $300,000 refurbishment to meet his personal tastes. The final flight of the jet was made in 1977 by Presley’s wife and daughter for attending his funeral.
The private jets had witnessed two owners since then after Presley’s father, Vernon, decided to sell the aircraft.
However, with the Graceland getting opened in 1982, it’s operators reached on an agreement with OKC Partnership, owners of the jet, for which the aircraft was put up for public display in its premises from 1984.
The agreement, which brings a share of the ticket sales to the owners, will be expiring in April 2015.
Elvis’ private jets have been finely refurbished with a luxury bedroom, an executive conference room and a bar, gilded wash basin and sleeping quarters. Potential buyers are to place their bid for the aircrafts by February 2nd.