Staff and Wire Report

A private jet once owned by Elvis Presley is set to be auctioned after sitting on a runway in New Mexico for 30 years.

There are currently eight bids placed for the jet, and the current price as of today according to the highest bid is $126,000, but it is expected to go for much more than that at the closing date of May 27.

Elvis designed the interior that has red velvet seats and red shag carpet.

But the red 1962 Lockheed Jetstar has no engines and needs a restoration of its cockpit.

Liveauctioneers.com says the jet was owned by Elvis and his father, Vernon Presley.

It has been privately owned for 35 years and sitting on a tarmac in Roswell, New Mexico.

GWS Auctions Inc. says the plane will be auctioned May 27 at an event featuring celebrity memorabilia.

It estimates the plane’s value at $2 million to $3.5 million.

Here is the auctioneer’s description:

“Elvis Presley’s Personally Owned Private 1962 Lockheed Jetstar Jet *Custom Made to Elvis’s Specifications* W/Copies of All Papers BEING SOLD WITHOUT RESERVE (AS SEEN ON TV)- This jet was personally designed and ordered by Elvis Presley. This is the “Lost” jet he owned with his father, Vernon Presley. It is still in its original condition, and has been privately owned for over 35 years. The jet has been featured on TV with National Geographic, and has been a huge tourist attraction at the in Roswell, NM. The interior was custom designed to Elvis’ specifications. Down to the gold-tone, woodwork, inlay and red velvet seats and red shag carpet. This 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. This jet was very important to Elvis as he owned it with his beloved father Vernon. The jet that will be up for auction is one of only 204 aircraft manufactured between 1957 and 1978 in a private project between Jetstar and Lockheed. This aircraft has never been restored and features original external painting and detailing, as well as original interior. The jet is the only airplane once belonging to Elvis that is still owned privately, as the only other two in existence are owned by The Elvis Presley Museum. Please note: The plane has no engines, and the cockpit has not been restored.”