01/05/2015 03:11 EST | Updated 01/05/2015 04:59 EST

Elvis' Private Jet Planes, The Lisa Marie And Hound Dog II, For Sale At Auction

The Lisa Marie and the Hound Dog II, two private jets purchased and customized by Elvis Presley in the 1970s, are going under the hammer. The bidding starts Friday, January 2 in California.

The first jet, named for the King's daughter, was purchased from Delta Airlines on April 17, 1975 for $250,000. The rock 'n' roll icon spent a further $300,000 redecorating the aircraft and outfitting it with a luxurious bedroom, a conference room and a bathroom with a golden wash basin. For the exterior, Elvis chose the red, white and blue color scheme and had his motto TCB (Taking Care of Business) painted at the back.

The late singer paid $900,000 for the second plane, the Hound Dog II, which he used while the Lisa Marie was being refurbished.

Through an agreement with the current owners, these collector's items, which are no longer airworthy, have been displayed over the past three decades at Graceland in Memphis, Tennessee. They will leave the King's former residence this April, though the future owners will have the option to purchase land adjacent to Graceland to display them.

According to the British newspaper The Guardian, Julien's Auctions expects the jets, which are sold as a pair, to fetch between $10 and 15 million. The bidding will continue through February 2, 2015.

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