THE PRICE OF FAME

To collect memorabilia that once belonged to the most famous people in the world can be a very costly business. But is it really worth it? Some people are prepared to pay silly money to collect the holy relics of political stars, pop stars, film stars and porn stars, but what is their true value?. Four years ago the record price of $959,500 was paid for "Blackie", a hand-made guitar that Eric Clapton cannibalized from two old Fender Stratocasters. The raw materials originally cost next to nothing, and the buyer could never play it like Clapton, so it was only the magic of celebrity that added the value. Eight years ago, a sweaty old bra once worn by Madonna fetched $23,850. Twenty years ago, the skin-tight, skin-colored dress Marilyn Monroe wore when she sang Happy Birthday to President Kennedy fetched $1,267500 - a world record for a single item of Twentieth Century clothing.

We now wait with baited breath and a sequinned crotch, to see if this world record for celebrity memorabilia will be broken on 6th August at the Rock and Roll Pop Art Auction, where a cheesy jumpsuit once worn by Elvis Presley goes under the hammer. The King said the zippered jumpsuit decorated with rhinestone peacocks was his favorite outfit, when he first wore it on stage at The Forum Los Angeles on 11 May 1974, and it is the only classic Elvis suit left in the wild - the rest are all in captivity at Graceland. With one week to go before bids close, CollectValue sees that the auction bid is already at $250,000.

The late Elvis Presley is obviously more collectable that the late Saddam Hussein. When Saddam’s purple Rolls Royce Corniche appeared on eBay this week it was hastily withdrawn. It is now on an English car-dealer website with 900km on the clock and an asking price of $370,000. CollectValue looked up the price of a new Rolls Royce Corniche, and found it is $360,000, which makes Saddam Hussein’s added value less than one of Madonna’s bra cups. But at least we now know the true price of fame.