Elvis Presley's Revolver Sells at Auction For $200K

Elvis Presley's gun collection is in demand ... 'cause someone dropped six figures on one of his revolvers, with the final bid more than doubling what it was expected to fetch at auction.

The late singer's Smith & Wesson Model 53 double-action revolver was up for sale through Rock Island Auction Company, and they tell us the winning bid came in at $199,750.

Elvis received the gun as a gift in November 1976, just 9 months before he died, and it's loaded with custom features marking the Bicentennial.

The revolver is customized with five-pointed stars and a bald eagle holding a Betsy Ross American flag, plus the Liberty Bell ... and "1776-1976" is inscribed in gold near the muzzle.

As we first reported, Elvis' gun was expected to fetch at least $60,000 at auction ... but a bidding war broke out.