27 July 2010 Last updated at 04:19 ET

Elvis white piano up for auction

Presley bought the piano from the Ellis Auditorium in Memphis

Elvis Presley's white grand piano and a 1955 record contract are going up for auction in Memphis next month.

The piano, which he bought in 1957 and kept at his Graceland home, is expected to fetch more than $1m (£645,000).

A contract with RCA Records, signed by Presley, his father and manager, Colonel Tom Parker, is expected to fetch more than $150,000 (£97,000).

The 1957 Graceland purchase agreement is among other items for sale at the 14 August auction.

It has an estimated price of $35,000 (£22,600) while a four-page handwritten letter to girlfriend Anita Wood from 1958 is expected to fetch $75,000 (£48,500).

Other items being auctioned include some gold-framed sunglasses and Presley's address and phone book.

Doug Norwine, of Heritage Auctions, said the piano was "an emotionally-charged prized possession of the King himself".

Presley bought the white Knabe piano from the Ellis Auditorium in Memphis where it had been played by visiting gospel performers.

Last week, instruments said to have been used during Presley's post-mortem examination were withdrawn from a Chicago auction after their authenticity was questioned.

Rubber gloves, a toe tag and other tools had been expected to fetch $14,000 (£9,000) at auction in August.