The Auction at Graceland•Elvis Week•August 13, 2019
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This lot is closed for bidding. Bidding ended on 8/13/2019

Elvis was known for his generosity and gift-giving and often all it took was a compliment from a fan for him to thoughtfully give the fan what they admired. He purchased Cadillacs for others while he was at the dealer buying one for himself, and whenever he cleaned his closets, friends and family were always the recipients of his efforts. While the stories of his generosity abound, it is not often that we see an official document that assigns a value to his gift-giving. Offered is an official “Report of Gift Tax Examiner” form dated May 11, 1971 which documents the appraised value of the gifts at $23,912.35. On the reverse of page two, it is indicates that the gifts were for new automobiles and lists the recipients and the value of each respective gift, with Col. Tom Parker’s at $3,957.29 on 9-25-70, Bobby “Red” West’s at $3,973.00 on 12-18-70, Bill Morris’ at $8,764.56 on 12-21-70 and Dr. George Nichopoulos’ at $7,217.50 on 12-28-70. The last page, on State of Tennessee Department of Revenue Income and Inheritance Tax Division (New Account Form) lists the account number “7106126” with the donor as “Presley, Elvis” and the donation date as 1970. These were not the only cars that Elvis gifted during the period—after receiving a hard time about expenditures in December 1970, Elvis bought his father Vernon a Mercedes and also got one for Sonny West for his wedding, and one for Bill Morris, ex-Shelby County Sheriff who had helped Elvis get his badge and also sponsored him for the JCC award.

This gift tax document consists of four single-stapled pages with only the second page being double sided, and it is stamped May 12, 1971 on first page. The second page has a May 12, 1971 blue received stamp at the bottom and black and blue stamps (2) with the date April 16, 1971 at the top. Elvis has signed the third page in blue ink as the taxpayer. This page was notarized on April 9, 1971 which is likely the date that Elvis signed. Elvis’ address on the front page and beneath his signature is listed as care of Spain and Fisher, Certified Public Accountants on 2600 Poplar in Memphis. The amount of tax payable on this gift was $1,229.30. Elvis was very good to all those around him and this document provides evidence of just that. Each page of this gift tax form measures 11 by 8 1/4 inches (27.94 x 21.59 cm) and the entire document is accompanied by a letter of authenticity from Graceland Authenticated.

The pages are all in excellent condition with typical minor edge wear, ghost staple holes along the top margins and small tear along the top center of the second page.
1971 Elvis Presley’s Signed and Notarized IRS Gift Tax Form Referencing Vehicles Elvis Bought for Colonel Parker, Red West, Bill Miller and Dr. Nick
Current Bidding (Reserve Has Been Met)
Minimum Bid: $1,500.00
Final prices include buyers premium.: $1,875.00
Estimate: $3,000 - $5,000
Number Bids: 2
Auction closed on Tuesday, August 13, 2019.
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