Friday, December 10, 2010

Elvis Presley’s Mercedes Benz fails to make its asking price at auction

It seems no even Elvis Presley is recession proof after a Mercedes Benz limo previously owned by The King was sold at auction for half of its estimated selling price.

We reported previous month that the Mercedes Benz 600 Saloon car, which is reported to be one of just a handful of cars to have been registered in the Blue Suede Shoes singer’s name, was predictable to make between £150,000 and £200,000 when it went under the mallet at Mercedes Benz World in Weybridge, Surrey at the beginning of the month.

However when the Mercedes Saloon went up for auction previous Monday, it sold for £80,700, less than half of the expected top end of the probable price for the car with the famous connection.

However the auction house which was dependable for selling the vintage ride, Bonhams, defended the apparently low auction price, saying that the £80,700 which it achieved was fair considering that the car is realistically worth £40,000 when you take out the Elvis Presley link. Bonhams suggested that the estimated selling cost of £150,000-£200,000 was unrealistic.

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