The high bids kicked in at the second official Graceland Auction. The Elvis' 78 acetate “My Happiness” sold for an incredible $300,000! The acetate is considered the holy grail of Rock ‘n’ Roll.
Lorisa Hilburn, the niece of the late Ed Leek, stated, “It was surreal—it was so much fun. We’re just so excited—this is such a blessing. We plan to put the money towards the college education of several family members. After 60 years in a vault, I really hope the winning bidder gets a chance to enjoy the acetate and share it with the public."
Riding the momentum created by the successful inaugural auction in August of 2014, various pieces of jewelry, movie memorabilia and personal items were among the 67 lots in the auction curated and authenticated by Graceland Authenticated.
Other top items included Elvis “That’s all Right” signed by Elvis, which sold for $32,500 against an estimate of $10,000 to $15,000. Elvis’ friend Ed Leek was with Elvis to witness the initial production of Elvis’ first Sun Studio record, a 78 RPM record of “That’s all Right” and grabbed one of the records, which Elvis signed to Ed, writing “To a good pal, Elvis Presley” on the label.
A treble clef gold and diamond ring gifted to Sammy Davis, Jr. sold for $32,500, against an estimate of $20,000 to $25,000.
An RCA Award to Colonel Parker for “In The Ghetto,” sold for $16,250, against an estimate of $6,000 to $8,000.
I hope the My Happiness acetate has found its way back into Graceland as it should be on public view.
I don't know what other fans think but shouldn't all this stuff be kept in Graceland, exhibited for all the fans and general public to admire? So "the holy grail of Rock 'n' Roll" is to end up in possession of an (unknown) buyer, whom I doubt will share with the public. Shame, shame, shame.
From a business standpoint, EPE was wise not to get involved with the bidding. Having the acetate record on display wouldn't have increased the number of future visitors to Graceland. There'll always be enough items on display there to satisfy most everyone regardless of them owning the "My Happiness" disc... or not.
The 78 rpm record, with its tattered & yellowed label, actually sold for $240,000. But the total buyer’s price includes a premium of 25%, or $60,000, that goes to the auction house, Graceland Auctions, for a total of $300,000. An undisclosed internet buyer placed the winning bid.
I agree with you in a business way TheMemphisFan....but you could possibly say the same thing in regards to a lot of items at Graceland. I think the Acetate of My Happiness should be at Graceland wether it brings in more fans or not. It's part of Elvis' history and to me that's the reason it's more important to be at Graceland. I'd love to go and see it there but I'm afaid it may never be seen again unless the new owner decides to sell it. Happy New Elvis Year everyone.
Guess we know the limit of sentimental value: > $240,000...
I just hope whoever bought this places in on permanent loan to Graceland, they have the facilities to care for this item correctly and allow the public to view it.
I agree that this acetate belongs at Graceland, or at least in the Rock 'n' Roll Hall of Fame. Here's a thought; could the secret buyer actually be Lisa Marie? She would have that kind of money and would have an interet in having this item (the first recording of her father) for her own family. TCB
yep, agree it should be on display at Graceland or the R&R HOF. Let's just hope the winning bidder thinks the same way.