CAUGHT IN A TRAP? CAN'T GET OUT? TOO bad, because Nov. 3 will be a good day for those who can't help falling in love with all things Elvis. On that day, at a Los Angeles auction house, the Elvis Presley Museum Collection will hold its second and—suspicious minds notwithstanding—absolutely final auction of the late King's costumes, furniture, jewelry and other memorabilia. The most expensive item will probably be, to quote the catalog, a "Starburst Planet Stage Suit...cream-colored, wool-knit, one-piece," with an estimated price of $75,000. But what has piqued the interest of more adventurous collectors is a terrycloth hat that Elvis wore on the very blue Hawaiian vacation he took in 1977. "There are so many photos, the fans are very familiar with it," says Jimmy Velvet, 57. Velvet, who collected the sale's items as founder of the Elvis Presley Museum Collection, expects the hat to fetch at least $9,000.
"Elvis fans are enthusiastic," says Michael Schwartz of Butterfield & Butterfield, the auction house overseeing the sale. Still, there are relatively affordable items: A silver wastebasket may go for $200-$300; the nine ball from Elvis's pool table for $150. Velvet warns that it's now or never, since he and wife Kathie are headed for Heartbreak Hotel and divorce after 27 years. "This was our joint property," he says. "We are trying to settle everything." Velvet admits he's keeping odds and ends, including a two-seater bike—which, like all good things Elvis, will no doubt be pedaled someday.
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