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Elvis Presley's Dismal Palm Springs Estate Heads to Auction

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Elvis Presley's former Palm Springs home has been sitting around on the market for about nine months in a pretty shabby state. With the previous owners' failed attempts to renovate it and rent it out as an Elvis themed "party pad" (with the laughable title of "Graceland West") hanging heavy over the place, it has dipped in price from $3.75M to $2.59M. Now, the LA Times reports that the bank-owned property is being auctioned off on October 25.

A starting bid has yet to be established for the home, which Elvis bought in 1970 and held onto until his death, in 1977. The Palm Springs home where he spent his honeymoon is still on the market for $9.5M, and his former Beverly Hills estate was bought by Hard Rock Cafe founder Peter Morton last year for $9.8M and promptly rented out after an unsuccessful bid to tear it down. So no matter what happens to the unloved "Graceland West," the tradition of hawking Elvis-related property is alive and well.