Elvis Presley-Owned Guitar Sells for Record $1.32 Million at Auction

One lucky, and very rich, Elvis Presley fan has the memorabilia world all shook up -- after snapping up one of The King's rare guitars for a record-setting 7-FIGURE price!!!

That's right ... Elvis' 1942 Martin D-18 guitar -- which he owned from 1954 to 1956 -- sold at auction for a whopping $1,320,000. It's a WORLD RECORD for the most expensive Elvis Presley memorabilia ever sold ... via the folks over at Gotta Have Rock and Roll.

As we first reported ... the guitar's got tons of history. Elvis bought it at O.K. Houck's Piano Store in Memphis, trading in his Martin 000-18 model. He then went on to decorate the body of the guitar with adhesive metal letters spelling out "ELVIS." Today, the guitar's missing the "S."

While he owned the guitar, Elvis recorded a slew of his early classics, including "That's Alright (Mama)," "Blue Moon of Kentucky" and "Good Rockin' Tonight." The new owner is remaining anonymous ... for now.

Some other cool items that sold at the auction include Michael Jordan's game-worn modified Jordan 1 sneakers from the 1985-86 season. The pair sold for $474,696, also a record.

Eddie Van Halen's 2000 custom racing Ferrari sold for $156,250 and The Beatles' 1966 Toronto Maple Leaf Gardens concert poster sold for $68,750. That's also a world record ... for non-U.S. concert posters.