#3416 • Elvis Presley's Graceland Purchase Contract W/LOA

Part of Archives of Hollywood & Music (timed auction by GWS Auctions)

Starting at $1.00

Status: Sold

Est. $50,000-$52,500 Elvis Presley's Graceland Purchase Contract Signed by Elvis, Vernon & Gladys Presley W/LOA From Graceland Authenticated & Tom Morgan Jr. on Shelby Co. Sherriff's Dept. Letterhead - This original sale contract marks one of the most momentous events of the Presley legacy, the sale of the Graceland estate to Elvis Presley. This iconic and historic document is arguably one of the most significant Elvis Presley documents, as it marks the sale of one of the most well known homes in the United States to a musical icon whose vast appeal and beloved star quality continues to prevail even more than 40 years after his passing. Graceland was purchased by the Presley's on March 17, 1957 from Memphis socialite Ruth Moore for a total purchase price of $90,000. This two-sided, one-page standard folded agreement from The Virginia Grant Realty Co. acknowledges receipt of the $1000 earnest money for "The property known as Graceland" and further describes the terms of the agreement such as the Presley's trade of their property at 1034 Audubon Drive at a price of $55,000. This historic document is filled out in red ink and is signed by realtor Virginia Grant as agent. Perhaps the most significant feature of this document is the fact that it is signed in black ink by all three Presleys, Elvis, Vernon and Gladys, which is incredibly rare as Gladys did not often sign and at 22 years old, Elvis no longer required his parents' signatures on legal documents. The Presley family enjoyed the magic of Graceland for over 20 years where wonderful times were spent and countless memories were made over the years. Graceland has become synonymous with Elvis and receives hundreds of thousands of visitors each year, and is one of America's top tourist attractions. In 1991 it was listed on the National Register of Historic Places and in 2006 was declared a National Historic Landmark, this, along with the fact that the contract is signed by all three Presleys and symbolic nature of the momentous event make this a truly extraordinary and priceless document. The document will be accompanied by a notarized letter of authenticity from Tom Morgan Jr., who was the Administrative Assistant to Sheriff Gene Barksdale at the Shelby County Sheriff's Department, which states in part, "I swear this contract is original and I am the sole and rightful owner of this document and it has been in my possession until today." The contract will also be accompanied by a letter of authenticity from Graceland Authenticated. The document measures 14" x 8.5".