ROCK ISLAND, Ill., Aug. 29, 2023 /PRNewswire/ -- A flashy engraved revolver owned by Elvis Presley recently sold for $199,750 during Rock Island Auction Company's August Premier Auction, which took place, Aug. 25 - 27. The King of Rock & Roll's revolver was one of the featured firearms during the three-day event that drew international press and achieved over $21 million in total sales.
Presley's engraved Smith & Wesson Model 53 was estimated to bring between $60,000 - $90,000, but competitive bidding from gun enthusiasts and Elvis fans around the world resulted in a final hammer price that more than doubled the revolver's high estimate.
"The collectibles market has been experiencing unprecedented growth in several genres," said RIAC President Kevin Hogan. "When you combine two of those genres, Elvis' memorabilia and collector firearms, the result is tremendous excitement and high totals at auction."
The Smith & Wesson Model 53, adorned with a bicentennial theme by Master Engraver Russell Smith was delivered to the King of Rock 'n Roll only months before his untimely passing. The revolver's exceptional craftsmanship and custom engraving make the piece valuable on its own, but the provenance to Elvis Presley elevates the gun into the upper echelons of the fine arms collecting pursuit.
Rock Island Auction has previously sold revolvers of Elvis' for similarly hefty amounts. In 2017, the company sold the King's Colt Python revolver for $172,500 as well as his Smith & Wesson Model 19-2 for $195,500.
The success of Elvis Presley's revolver is the latest example demonstrating the value of guns linked to historic figures and pop culture icons in the current collectibles market. In 2022, Rock Island Auction Company sold the only surviving blaster originally used by Harrison Ford as Han Solo in "Star Wars: A New Hope" for $1,057,500, and the previous year the auction house sold a revolver owned by John Wayne and seen in some of the star's feature films for $517,500.
Such results have translated into Rock Island Auction's recent announcement of its expansion to Bedford, TX. The new facility is being touted as a state-of-the-art venue for fine arms auctions, which will host its first event this December. The auction house will be accepting consignments for the December Premier Auction through Monday, Sept. 11.
About Rock Island Auction Company
Rock Island Auction Company is the world's #1 auction company for firearms, bladed weapons and militaria. Founded in 1993 by its current CEO Patrick Hogan, RIAC continues to lead the industry with record sales numbers and their extensive and beautiful marketing efforts. Their 150,000 square foot campus consisting of two buildings, hosts 18+ auctions each year, and the company is proud to announce its December 8 - 10 Premier Firearms Auction will take place in its new state-of-the-art facility at 3600 Harwood Rd., Bedford, Texas. They actively seek consignments, be it a single weapon or a collection of hundreds, a thousand dollar item or one million. For more information, please visit www.rockislandauction.com or call 1-800-238-8022.
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SOURCE Rock Island Auction Company