Elvis Presley's first recording sells for $240,000

Elvis Presley's first recording sells for $240,000

MEMPHIS, TN (WMC) - Elvis Presley's first recording sold for $240,000 Thursday night at an auction to celebrate what would have been "the King's" 80th birthday.

The prized record, "My Happiness," went to an online bidder.

According to the Associated Press, when Presley was 18, he walked into Memphis's Sun Studios and recorded the song. He paid $4 for an acetate copy of the record, which has remained in a friend's safe for decades.

All items sold at the auction must add 25 percent to the auction price, so the final price for the record was $300,000.  The extra $60,000 will go to the Graceland auction house.

Click here to check out what else was for sale at the auction.

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