There’s a cherry red Hagstrom Viking II electric guitar that’s about to become someone’s very expensive piece of rock history. Sotheby’s is auctioning off the Swedish-made semi-hollow-body instrument that Elvis Presley played during his 1968 Comeback Special, and they’re estimating it’ll fetch somewhere between $1 and $2 million when bidding wraps up on April 23.
If that sounds like a lot of money for a guitar, well, it is. But context matters here. This isn’t just any instrument that happened to pass through Elvis’ hands. This particular guitar became the visual anchor of one of the most significant moments in rock and roll history.
The Night Everything Changed
Elvis used this Hagstrom throughout the entire broadcast, playing it on classics like “Blue Suede Shoes,” “Trouble,” and “Guitar Man.” He’s also holding it on the cover of his 1969 LP “Elvis in Memphis.” After years away from live performance, Presley returned to television in that iconic black leather outfit, guitar in hand, and essentially reminded the world why he mattered.
According to Sotheby’s Music and Pop Culture Specialist Craig Inciardi, “This guitar became a symbol of Elvis’ legendary comeback. Guitars have always been central to his image, but seeing Elvis return to the stage after years away, dressed in his iconic black leather outfit and playing this guitar, created one of the most enduring images in rock history. It marked a pivotal moment, reconnecting him with a generation of fans and cementing his status as the King of Rock ‘n’ Roll.”
That’s not hyperbole. The 1968 Comeback Special genuinely mattered. It gave Presley a chance to prove he was more than just a fading nostalgia act, and it worked. The performance still holds up today.
How a Session Guitarist’s Guitar Became History
Here’s where things get interesting. Elvis originally planned to play a different guitar that night, but it clashed with the red and black colors of the set. Director Steve Binder and producer Bones Howe reached out to session guitarist Al Casey and asked if Presley could borrow his cherry red Hagstrom instead.
That’s it. That’s the entire story. One last-minute decision, and suddenly this particular instrument became forever linked to one of the most important nights in Elvis’ career. Presley only played it that one time during the broadcast, which makes its historical significance even sharper.
Since then, the guitar has bounced through several private collections and was actually on display at the Rock and Roll Hall of Fame between 1998 and 2000. Unlike most of Elvis’ guitars, which tended to be acoustic, this electric Hagstrom has a distinctive look and sound that set it apart.
The Auction Market Is Getting Ridiculous
The timing of this sale is worth paying attention to. Just weeks ago, David Gilmour’s Black Fender Stratocaster sold for $14.55 million, and Jerry Garcia’s Tiger fetched $11.56 million. Both instruments were part of the Jim Isray Collection and shattered expectations by going far over their initial estimates.
That context matters because Sotheby’s is estimating Elvis’ Hagstrom at $1 to $2 million. Those numbers might not feel astronomical compared to what Gilmour’s and Garcia’s guitars pulled in, but it’s entirely possible this one exceeds expectations too. The celebrity memorabilia and music market has proven surprisingly durable, especially when the historical moment attached to an object is genuinely significant.
You can view the guitar at Sotheby’s New York Breuer Building from April 13 to 20. Bidding opens April 9 and concludes April 23. Whoever ends up owning it will have something that’s genuinely about more than just the wood and strings. They’ll own a piece of the night rock and roll proved it wasn’t dead.
