NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2002 Apr 21 @ 10:00UTC-08:00 : PST/AKDT
(ELVIS PRESLEY). This important "Tree of Life" wall hanging was presented to Elvis Presley on April 21, 1976, at the groundbreaking in Memphis, Tennessee for the first court in a proposed raquetball and handball club project, "Presley Center Courts," in which Elvis had invested. At the top of the 40" x 26.5" presentation piece, in black lettering against a gold silk background, is "TAKING CARE OF BUSINESS." The name "PRESLEY CENTER COURTS racquetball and handball courts" is engraved above and below four racquets, and the date, APRIL 1976, is on each side. At the center of the hanging, a "Tree of Life" of yellow gold against a black background has "ELVIS PRESLEY" engraved along the trunk of the tree, and members of the "Memphis Mafia" form the limbs of the tree: Billy Smith, Alan Fortas, Joe Esposito, Richard Davis, Mike Keeton, Red West, Larry Geller, Jerry Schilling, and Marty Lacker. Above the family tree is the verse: "Like a tree planted by the water that bringeth forth fruit in his season," in yellow gold lettering. Below the tree is the name of the club, "Mendenhall At Mt. Moriah, Memphis, Tenn. USA." In silver lettering below is "ELVIS PRESLEY ENTERPRISES," and below that are the initials "TCB" around a lightning bolt, (all in silver), which stands for "Taking Care of Business In A Flash." Two 8" x 2.25" gold-embroidered, black velvet straps extend from the top; each has a black and gold rope with a gold tassel, approximately one and a half feet long. At bottom right is "C.R. / Dorothea" in black lettering. Ciro Romano, who made Elvis' costumes, designed the wall hanging, incorporating the "Tree of Life" which Marty Lacker had earlier conceived as a gift for Elvis. The hanging is handworked with gold and silver embroidery by Dorothea for I.C. Costume Co. of Hollywood. The piece is backed with leather skins, and a yellow plaque with black lettering which says, "To Commemorate The 'Ground-Breaking," No 1 site - Presley Center Courts, April 21, 1976. 'The Beginning' T.C.B. The Chairman of the Board." The 61" x 41" frame was designed later by Rupert J. Smith, an associate of Andy Warhol, for exhibiting the wall hanging when the Mirage Hotel opened in Las Vegas. It has a snakeskin pattern with reverse negatives of Elvis' face, which are attributed to the Warhol Factory. The hanging is secured with leather straps, bound to twelve silver clasps along the edges of the handing. Presley Center Courts was one of the few business ventures Elvis Presley ever attempted. He refinanced Graceland to obtain the construction financing for Presley Center Courts from the National Bank of Commerce in Memphis. Other investors had agreed to form a limited partnership, with Elvis as chairman of the board. Due to massive cost overruns and the failure of Elvis' manager, Col. Tom Parker, to approve any long-term finance, Elvis was forced to take additional loans in California. A former circus ringmaster and oil promoter named Richard Calhoun was chosen by Col. Parker to be a general partner in charge of promoting the venture, but in May of 1976, Elvis informed Calhoun that he would have to cancel all links to the project: The bank had no faith in the people Elvis had hired to complete the development. Mr. Calhoun obtained the wall hanging from Elvis, and in late 1976, the present owner bought the Presley Center Courts wall hanging from Calhoun, and has kept it for over 25 years. Accompanied by a sworn affidavit by the owner. This is a very impressive and unique item which commemorates Elvis' rare venture into business.
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