Elvis Presley Outfit, ca. 1970
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APPRAISER:
Here we are in the home of the King, and you've brought us an outfit that belonged to Elvis Presley. Where did you get this outfit?
GUEST:
My husband bought it at an auction in 1975 in Germantown, Tennessee. The Jaycees auctioned it off. They went to Graceland to acquire something that belonged to Elvis, and Vernon Presley was gracious enough to give them the, this particular suit, along with a letter that he signed saying it was Elvis's suit.
APPRAISER:
Okay, do you have any pictures of Elvis wearing this or anything like that?
GUEST:
I do not.
APPRAISER:
Uh-huh, and what did you pay for it?
GUEST:
My husband paid $1,250 for it.
APPRAISER:
Well, it's no secret that Elvis Presley loved clothes. And he spent a lot of money on his clothes. In fact, he had them custom-made. This is a one-of-a-kind outfit. It's all made by hand, and it's very well-done. There are several problems that come along with trying to find the value of an outfit of any kind that belongs to a well-known person. If we had a photograph, that would be a wonderful way to find out exactly when this was worn, because it has several different values depending on if it was worn and when it was worn. Do you have any idea about when it might have been worn?
GUEST:
I do not.
APPRAISER:
Well, if this happened to be one of those outfits that he wore on his '68 comeback tour, it would be worth a great deal of money-- probably about $100,000. I've talked to several people here, and they seem feel it's probably a little bit later, probably in the late '60s, early '70s, and probably for Vegas. If it was worn on stage-- and it appears to be worn by someone, because there's a good bit of wear around the neck and on the inside, and probably was quite active while they were wearing it, maybe dancing or whatever. If he wore it at that time, it would probably be worth about $30,000. And if, on the other hand, he just owned it but never wore it, it would drop down to around $15,000. So today, we really can't come up with a, a definite value because we need to know more information about that. But anyway, even if it's worth just $15,000...
GUEST:
That's...
APPRAISER:
That's all right, Mama!
GUEST:
That's all right. And if anyone has a picture of him wearing it, I would sure like to have that picture.
APPRAISER:
Right. (laughs)
Appraisal Details
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Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
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