A Watch Worn by Elvis ListsĀ for $495,000 as Hype for Film Builds
(Bloomberg) -- In the build up to the splashy biopicĀ āElvis,ā whichĀ premieres in theaters onĀ June 24, Elvis-mania has started to take hold.
The film got a 12-minute standing ovation at Cannes.Ā Las Vegas chapels stoppedĀ getting cease-and-desist ordersĀ to halt Elvis-impersonator weddings. Even the travel site Booking.com is getting in on the action,Ā offering theĀ āUltimate Elvis Experience,āĀ a special two-night stay at the Guest House at Graceland, birthplace of āThe Kingā in Memphis, that includes behind-the-scenes tours of attractions like the Presley Motors Museum,Ā chauffeured vintage Cadillac rides, an advanced screening of the movie with a surpriseĀ cast member, and a souvenir Elvis-themedĀ Gibson Epiphone guitar.Ā
In the world of luxury, New Orleans gallery M.S. Rau, is sellingĀ swanky one-of-a-kind Elvis memorabilia. Items include a diamond-studded gold watch once-worn by Presley, priced at $495,000. The Swiss-made Ebel wristwatch includesĀ a 14-carat yellow gold jagged wristband and aĀ square clock face encircled by 26 round white diamonds. In 1974, he gave the watch to American gospel singer J.D. Sumner whose band toured with Presley until his death in 1977.
Other items include a blue lapis cabochon ring set in 14-carat yellowĀ gold which PresleyĀ gave to his bodyguard, priced at $24,850.
āThe jewelry is classic Elvis. A big gold nugget, heavy and over-the-top, as far away from conservative as it gets,ā saidĀ M.S. Rau owner Bill Rau.
The market for vintage luxury men's watches is hot, said Rau. In 2017, Paul Newman's Rolex Daytona broke records when it sold for $17.8 million at Phillips auction house in New York City.Ā
But for the past few years, and especially in 2021, the luxury goods industry across most categories has seen substantial growth.Ā Shoppers who found themselves homebound for months because of the pandemic were more flush with cash than usual and more likely to spend money shopping.
In May, Hugh Brian Duffy, chief executive officer of Watches of Switzerland Group PlcĀ said the boom in demand for Rolex watchesāand a lack of sufficient supplyāhas been so acute that itĀ is driving interest in other luxury timepieces.
More stories like this are available on bloomberg.com
Ā©2022 Bloomberg L.P.
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