A custom-made private jet personally designed by Elvis Presley, the late American singer, complete with original interiors including red velvet seats and red shag carpet, will be sold to the highest bidder this Saturday, May 27.

The red velvet interior of the Lockheed Jetstar Credit: Liveauctioneers.com

The 1962 Lockheed Jetstar jet, which has been privately owned for more than 35 years, became a tourist attraction where it sat on a runway in Roswell, New Mexico in the US.

The original cockpit of Elvis's private jet Lockheed Jetstar Credit: Liveauctioneers.com

But a lot including the jet and original paperwork signed by the singer outlining his specifications for its build, has racked up a bid of $126,000 as of this afternoon.

The jet's original woodwork Credit: Liveauctioneers.com

It is estimated to be worth between $2million and $3.5million, according to GWS Auctions, the company behind the auction.

The personalised jet is the only one of the three planes belonging to the singer which is still privately owned Credit: Liveauctioneers.com

With an original cockpit and no engines, the private jet has never been restored and is one of only 204 aircraft built between 1957 and 1978 in a collaboration between Jetstar and Lockheed, the former aerospace company which later became Lockheed Martin, currently one of the world’s largest aerospace, defense, security and technology companies, following a merger with the Martin Marietta American manufacturer in 1995.

The marble sink of the Lockheed Jetstar Credit: Liveauctioneers.com

The personalised jet is the only one of the three planes belonging to the singer which is still privately owned, while the other two are owned by the Graceland estate in Memphis, Tennessee, according to the auction’s bidding website Liveauctioneers.com.

The velvet-topped toilet seat on board the Lockheed Jetstar Credit: Liveauctioneers.com

Elvis’s private jet is one of 315 rare celebrity memorabilia being auctioned, including the handwritten memoirs and previously unseen photos of The Beach Boys, including “mysterious letters and writing from Brian Wilson”, a founding member of the American band.

Elvis’s private jet is one of 315 rare celebrity memorabilia being auctioned by GWS Auctions Credit: Liveauctioneers.com

Other items include various “lost” photographs of celebrities from James Brown, Ray Charles, Marilyn Monroe, Bing Crosby and Dolly Parton to Nelson Mandela, Tom Cruise, Madonna, Tom Hanks and Meryl Streep.