By: Renee Grant
Those Elvis Presley records you’ve been collecting, waiting for the right time to sell? That time may have passed. While the prices of other insanely popular artist memorabilia have fallen over time, it seemed the same wasn’t going to happen with Elvis. That seems to have changed.
At a time, some Elvis albums could bring thousands of dollars to a fan with rare pressings. That started to change in December of 2015 when an unheard, one-of-a-kind Elvis record was sold at an auction house in England for half of the appraisal amount of $15,500. While many were shocked, collectors realized it was the beginning of plummeting values for their precious Presley pieces.
The price of Elvis’ Good Rockin’ Tonight album, which the Rare Record Guide listed in 1998 as being worth $162 dollars, but online record database Discogs lists the record as only fetching an average of $17 over the past 10 years. The culprit? Many collectors of Elvis artifacts are in their 70’s and 80’s. As they pass away, their collections flood the market with once rare pieces.
Currently, there’s an average of about 32,000 Elvis records being sold on eBay, while only five years ago that number was closer to 20,000. There simply aren’t enough collectors left to buy all of the memorabilia that’s available. Even Cirque du Soleil’s Viva Elvis show suffered the effects when it closed after just two years, the first in the troupe’s history to close early.