Elvis' gold piano to make $700,000?

Elvis' 24-karat gold leaf grand piano auctions next month.

It's expected to make up to $700,000 when it features at Julien's Auctions' Rock N Roll sale in Beverly Hills on November 7.

Elvis gold piano
Tastefully done? Perhaps not - but Elvis played this piano at Graceland, and that means it's hugely important

The King played the outlandish piece of rock n roll memorabilia at his Graceland complex, although its history begins far earlier.

The piano, originally finished in walnut, began life at the Dixon Myers Auditorium in Memphis.

Elvis bought it for his mother in 1955, but when it wouldn't fit in her apartment, he moved it into his own Memphis home.

The piano came with him when he acquired Graceland in 1957 and Elvis regularly played it in his music room. It was then moved into storage, until Priscilla Presley had it covered in gold leaf for the couple's first wedding anniversary in 1968. It then returned to the music room.

It comes complete with its matching piano bench.

"Anything associated with the life or career of Elvis Presley is highly collectible," auction house CEO Darren Julien told CNBC.

"What's important about this piano is that it has huge historical and personal significance to Elvis Presley when he was alive."

Elvis memorabilia sells for big money. His famous peacock suit from the 1970s auctioned for $300,000 in 2008 - the Elvis memorabilia record, for a few more weeks at least.

Check out this unusual Elvis collectible we have for sale.

The auction will also feature the drum head the Beatles used on their first Ed Sullivan Show appearance.

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