On August 14, an auction will be held in Graceland during an annual event known as "Elvis Week". "Elvis Week" runs from August 9 to 17 to commemorate Presley's death anniversary on August 16.

The items up for bid are not part of the Graceland collection, but rather belong to Greg Page, a private collector from Australia who also happens to be the founding member of "The Wiggles", a group that produces music for children.

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Presley's estate may also bid on the items.

Among the 72 authenticated items up for sale are Elvis Presley's silver 1963 Rolls-Royce Phantom V and his beloved 1976 Cadillac Seville.

The Rolls-Royce, which was custom-fitted with a telephone, electric windows and a microphone, was originally a midnight blue color. Presley was said to have had it repainted to silver because whenever he visited his mother, her chickens constantly pecked at their reflections on the car.

Bidding for the said car starts at $300,000.

The Cadillac, on the other hand, was the last car Presley purchased for his personal use.

Other items up for sale are Presley's copy of the original script for "Love Me Tender", his first movie; a 1975 Martin D-28 guitar owned by the King of Rock and Roll himself; and a diamond-encrusted lion mask pendant and chain he wore during his meeting with President Nixon at the White House.

Angie Marchese, Graceland Director of archives, shared that Presley's signed library card will also be included in the items, sharing, "It takes us back to a time where we can identify with Elvis. We were all kids, and we all signed our library cards."

Starting August 1, fans can visit www.graceland.com/auction to start pre-bidding on the items.

There will be a live streaming of the auction.

To this day, countless fans still visit Memphis on August 16 to commemorate Presley's death.

TagsGraceland, Love Me Tender, Greg Page, The Wiggles, memorabilia, Auction, Elvis Presley, library card