The sale itself will take place in Las Vegas in October, but Internet users can both view lots and submit 'e-bids' from 6 September.

The proceeds from lots such as the King's "little black book" and the front doors keys to his opulent Graceland mansion will go to help the homeless in Memphis, Tennessee.

Is this on? Elvis's engraved gold mic is up for grabs.

Lisa-Marie Presley, heir to the King's estate and vast merchandising empire, has thrown open the family vaults for the sale.

Included in the auction are items from Elvis's childhood, his rise to stardom and the final years before his death in 1977.

Fans intrigued by the young star's academic abilities can bid for his sixth-grade school report card. A poor maths student, Presley unsurprisingly scored an A in music.

Among the other documents on offer are his army draft card, a pay stub from his $50-a-week job with the Precision Tool Company and his first recording contract.

For those looking for something a little more impressive, a 1970 Mercedes limo and a 1972 Cadillac station wagon are also up for grabs.

Elvis had a flare for picking stage costumes

Elvis's wardrobe has been raided for the special sale. Alongside an array of stage costumes in the catalogue, such as a black leather jumpsuit and a karate jacket complete with tiger motif, are more personal items.

Lot C51 matches a monogrammed red satin pillow case with a pair of black 'satin-like' pyjamas.

Also on offer is the army fatigue uniform wore when in 1958 heart-throb Elvis the Pelvis became Private Presley E.A. 53310761, the US Army's most famous GI.

One of the strangest lots in the sale is a Walther PPk pistol, the type made famous by James Bond. The weapon has its famous owners name engraved on the silver barrel.

The King is dead - but he's still giving

The handle of the gun is embossed with a silver medallion showing his trademark saying 'TBC' - Taking Care of Business. The singer was buried with a ring bearing the same inscription.

The auction of such rare and valuable items is intended to honour the late star's "spirit of generosity", according to daughter Lisa-Marie.

"My father never once forgot what it was like to want, to need, to do without. He spent most of his life bringing happiness to others, endlessly giving to those around him."