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The garment was purchased for £128,000 by a US collector when it went under the hammer at Henry Aldridge & Son in Devizes, Wiltshire.
Presley gave the leather and mink jacket, which is one metre and 20cm in length, to the brother of his fiancee Ginger Alden before he died in 1977.
It has leather shoulders, collar, pockets, belt with leather down the undersides of the arms and an eight-button front closure.
It is accompanied by a letter of authenticity from Rosemary Alden Starkey, who is Ginger Alden’s sister.
Auctioneer Andrew Aldridge said: “For me it encapsulates the glamour of 1970s Vegas, Elvis in a mink coat.
“It went to a collector in the USA and was underbid by a collector here in the UK.”
