Elvis' Private Jet Being Auctioned After 30 Years On Runway

It most likely won't fit in your garage, but that probably won't stop Elvis Presley superfans form bidding on one of the largest mementos credited to the King of Rock ‘n’ Roll: his private jet.

Presley's 1962 red Lockheed JetStar goes up for bid May 27. The jet has been parked on a tarmac in New Mexico, for more that 30 years.

Live Auctioneers, the company handling the bidding war, says "This is the 'Lost' jet [Elvis] owned with his father, Vernon Presley. It is still in its original condition, and has been privately owned for over 35 years."

The plane itself cannot run, as it is missing all of it's engines. Still, Live auctioneers says the jet "...has the potential of being fully restored, and placed on exhibit for the world to come see. It could potentially earn its new owner millions of dollars in exhibit, or entry fees as an attraction."

Bidding starts at $10,000 and the aircraft has already received 25 bids and is up to $125,000 although the auction does not open for another five days. 

GWS Auctions Inc., of California, is orchestrating the action and estimates the plane is worth between $2 million and $3.5 million.

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