March 23 - The Eagle's Nest Sold Once More

The full-length, bejeweled cape made for Elvis' 1973 Aloha From Hawaii concert - but so heavy that Elvis did NOT wear it - failed to sell at this week's auction that ended yesterday. While bidding on the cape topped $90,000, it fell short of the reserve price set by the seller, according to the Boston-based auction house RR Auctions. The seller and the highest bidder are now trying to negotiate a price.

The opening price for the cape was $10,000. The reserve price was not disclosed. The cape is heavily inlaid with semi-precious stones arranged in the form of an American eagle. It weighs 12 pounds and proved to be too heavy for Presley to wear. The cape’s weight threatened to pull him over backwards in rehearsal. So the cape’s designer, the renowned costume maker Bill Belew, quickly made the shorter, lighter version of the cape that Presley actually wore during the concert. Note that at Julien's auctions in 2013 it was offered for $130,000 - $140,000.

Charts

The UK album release “The Nations Favourite Elvis Songs” dropped from #49 to #58 on this weeks Official UK Album Chart. 

The new Sony Legacy release "Elvis - Recorded Live On Stage In Memphis" is a new entry at #74 selling 1,289 copies on the Official UK Album chart.

The DVD "The King Of Rock ’n’ Roll" dropped off the Australian Music DVD chart after re-entering it once more last week.

Sold

Peter Morton, Hard Rock Cafe founder, has on-sold Elvis' LA mansion making a neat $4.7Million profit in under 18 months. Just over a year after he bought Elvis Presley's old Beverly Hills mansion for $9.8 million, Hard Rock Cafe founder Peter Morton has flipped the property for a tidy property, according to real estate blogger The Real Estalker. 

The home reportedly sold off-the-market to a corporate entity for $14.5 million. Morton was rumored to be tearing down the historic home, but it seems that luckily those plans never panned out. The home, which has four bedrooms, five bathrooms, and spans 5,367 square feet, sold to Morton in December 2012 for significantly less than the initial $13million asking price.

(Source: RRAuction / Elvis Information Network / Brian Quinn)