Additional Coverage:
- ‘Pawn Stars’ boss Rick Harrison decides to spend a whopping $40,000 on iconic singer’s jacket (marketrealist.com)
Las Vegas pawn shop owner and reality TV star Rick Harrison is known for his tough negotiating tactics. But even the savviest bargain hunter can become a fanboy when faced with a piece of rock and roll history. In a recent episode of “Pawn Stars,” Harrison shelled out a cool $40,000 for a jacket once owned by Elvis Presley himself.
The iconic “Superfly” jacket was brought in by a returning customer named Erik, who acquired it from the Elvis Presley Museum in Pigeon Forge, Tennessee. Erik came armed with documentation tracing the jacket’s provenance back to J.D.
Sumner, one of Elvis’s backup singers. He hoped to sell the piece for $75,000.
Harrison, ever the cautious businessman, called in Elvis expert Jimmy Velvet to authenticate the jacket. Velvet, who had met Elvis years prior, confirmed the jacket’s authenticity and estimated its value between $55,000 and $60,000.
With the expert’s appraisal in hand, Harrison dispatched his associate Chumlee to make an initial offer of $40,000. Harrison stuck to his guns, even when Erik countered with $50,000. Finally, after a tense back-and-forth, Erik agreed to Harrison’s price.
While Erik believed the jacket was worth even more in the current market, he was ultimately satisfied with the deal, walking away with a hefty sum for his piece of rock and roll memorabilia.