Elvis Presley's famous flaming red Hagstrom Viking II guitar will be available to be purchased at an auction.

Kruse GWS Auctions, which specializes in celebrity-owned assets, will be putting up the guitar that Presley played on the televised "Comeback Special" in 1968. Fans might also recognize the string instrument from his album cover of "From Elvis in Memphis."

The bidding begins at 1 p.m. ET on Saturday, March 27. The Kruse GWS Auctions has a link to the auction on its official website, which will include other memorabilia.

Presley, known as "The King of Rock 'n Roll," is considered one of the greatest musical icons of the 20th century. He died in 1977 after a long musical and film career. Presley has reportedly sold over a billion records worldwide.

The starting price for the guitar is $250,000, according to CNN. The bidding winner will also receive the sheet music from the TV special.

The auction company thinks the Hagstrom Viking will go for anywhere in between $750,000 and $1 million, TMZ reported. In August, Jimi Hendrix’s 1960's guitar sold for $216,000 at an auction.

Other items up for sale will include Michael Jackson's studded glove, Elizabeth Taylor's earrings and the 1950 Cadillac Fleetwood from "The Godfather."

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