Jet owned by Elvis Presley to be auctioned after sitting 30 years

circa 1975: American popular singer and film star Elvis Presley (1935 - 1977), to his fans the undisputed 'King of Rock 'n' Roll'. (Photo by Keystone/Getty Images)

ALBUQUERQUE, N.M. — A private jet once owned by Elvis Presley is set to be auctioned after sitting on a runway in New Mexico for 30 years.

Elvis designed the interior that has gold-tone woodwork, red velvet seats and red shag carpet. But the red 1962 Lockheed Jetstar has no engine and needs a restoration of its cockpit.

Liveauctioneers.com says the 1962 red Lockheed JetStar was owned by Elvis and his father, Vernon Presley.

It has been privately owned for 35 years and sitting on a tarmac in Roswell, New Mexico.

GWS Auctions Inc. says the plane will be auctioned May 27 at an event featuring celebrity memorabilia.

It estimates the plane’s value at $2 million to $3.5 million.