Elvis Presley's Graceland Auction Halted by Judge
Presley Estate and Auction House Reach Agreement
Historic Memphis Mansion Remains in Family's Possession
A federal judge has halted the auction of Graceland, the legendary Memphis mansion of Elvis Presley. The auction, scheduled for later this month, was being conducted by Julien's Auctions and Guernsey's to settle a $10 million debt owed by the Presley estate to the auction houses. However, the estate and the auction houses have now reached an agreement that will allow the Presleys to retain ownership of Graceland.
Graceland has been a major tourist attraction since Presley's death in 1977. The mansion and its grounds are home to many of the singer's personal belongings, including his famous gold records, costumes, and cars. The estate has been owned by Presley's daughter, Lisa Marie Presley, since his death.
The auction of Graceland had sparked outrage from fans and music historians. Many argued that the mansion was a national treasure that should not be sold to the highest bidder. The judge's ruling will ensure that Graceland remains in the Presley family's possession and continues to be a place where fans can celebrate the legacy of the King of Rock and Roll.
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