It seems no even Elvis Presley is recession proof after a Mercedes Benz limo formerly owned by The King was sold at auction for half of its estimated selling price.

We reported last month that the Mercedes Benz 600 Saloon car, which is reported to be one of just a handful of cars to have been registered in the Blue Suede Shoes singer’s name, was expected to make between £150,000 and £200,000 when it went under the hammer at Mercedes Benz World in Weybridge, Surrey at the beginning of the month.

However when the Mercedes Saloon went up for auction last Monday, it sold for £80,700, less than half of the expected top end of the estimated price for the car with the famous connection.

However the auction house which was responsible for selling the vintage ride, Bonhams, defended the seemingly low auction price, saying that the £80,700 which it achieved was fair considering that the car is realistically worth £40,000 when you take out the Elvis Presley link. Bonhams suggested that the estimated selling price of £150,000-£200,000 was unrealistic.

The Mercedes 600 was one of two owned the legendary singer. He gifted the vehicle to his friend two years after buying it. The luxury classic car then made its way over to the UK after it was bought by an unknown car enthusiast from a car dealership in Memphis in 2005.