Elvis was famed was his generosity, happily buying cars for complete strangers, paying for the full time nursing of a sick fan and handing over all kinds of personal effects that were very valuable then - and worth even more now.
A great example of Elvis in a giving mood was the 1975 Asheville North Carolina concert. A few songs into his set, the King gently threw his Gibson guitar into the audience.
The guitar fell into the hands of Lloyd Perry - and those of the man next to him. Perry elected not to fight over it and simply allowed his fellow fan to take the precious instrument.
Seeing this, Elvis called Perry up on stage a few songs later, and presented him instead with a diamond ring he was wearing on his little finger.
The ring consists of 14 diamonds set in 14 karat yellow gold and represents both a fantastic piece of jewellery and a reminder of the character of the man.
It is to be sold in Tallahassee, Florida by Affiliated Auctions on December 6. Bids can be placed online or by phone.
The auction will also feature Perry's tickets to the concert, an autographed copy of Lee Cotton's book Did Elvis sing in your hometown too 1975 and several photos of Elvis wearing the ring at other events.