Elvis’ gold piano could sell to the tune of $700K

Anything up for auction with a signature tie to the "King of Rock and Roll" is guaranteed to sell, and one musical instrument could soon sell for well over half a million U.S. dollars.

Elvis Presley's gold-leaf grand piano is expected to go for as much as $700,000, when it goes under the hammer November 7th, at a rock n' roll themed auction in Beverley Hills, California.

Elvis Presley’s Most Significant Gold Leaf Piano from Graceland
Credit: Julien's Auctions

Presley's grand piano was played by the rock icon inside a music room at his Graceland mansion in Memphis, Tennessee.

While the piano's initial finish was walnut, it was later decorated with a 24K gold-leaf finish by Presley's wife, Priscilla as a first wedding anniversary present, Julien's Auctions revealed in a press release. It was first bought by Presley in 1955 for his mother.

Darren Julien, President & CEO of Julien's Auctions, told CNBC that anything associated with the rock star's life would be "hugely collectible."

"Anything associated with the life or career of Elvis Presley is highly collectible. What's important about this piano is that it has huge historical and personal significance to Elvis Presley when he was alive."

"No other piano has this much history or significance that was owned by Elvis."

The current estimate for the piano is expected to fetch between $500,000 to $700,000, and will be sold alongside a matching bench.

Catherine, Duchess of Cambridge;Prince William, Duke of Cambridge;
Royal wedding cake slices up for auction

For those whose music taste leans more towards English rock, the auctioneers are putting a Beatles' "T-logo" drum head – not kit – up for auction, which appeared on the band's 1964 debut U.S. television appearance on "The Ed Sullivan Show."

The fabled drum skin has not yet been given an estimate, with the firm telling CNBC that it's a "very difficult item to value" due to its historical significance, especially as it has the signature logo of a dropped "T".

"The Sgt. Pepper drum head sold for over $1 million and we anticipate this could rival it," Julien said. This will be the second time it's gone up for auction ever.

The Beatles T-Logo Drum Head From Their 1964 U.S. Appearance on "The Ed Sullivan Show"
Credit: Julien's Auctions

Musician memorabilia tends to soar on auction day, and Julien's Auctions are very familiar with the hype generated around Presley when it comes to prized possessions.

This year, the auction house has already put two of Presley's private planes up for auction, while this May, a bidder paid $5,000 for an "EAP" charm bracelet, while someone else paid $41,600 for Elvis's marriage certificate to Priscilla Presley.

—By CNBC's Alexandra Gibbs, follow her on Twitter @AlexGibbsy.