Elvis' peacock jumpsuit sells for $300K

(NEW YORK) Elvis Presley's favorite performance costume, the peacock jumpsuit, sold for $300,000 Thursday, making it the most expensive piece of Elvis memorabilia sold at auction.

The online sale by auctioneer Gotta Have It! ended at 3 a.m. The pre-sale estimate was $275,000 to $325,000.

The white outfit with a plunging V-neck and high collar features a blue-and-gold peacock design hand-embroidered on the front and back and along the pant legs.

It is cinched at the waist by a wide belt decorated in gold medallions in a design resembling the eye of a peacock feather.

The auctioneer described the seller as "a big Elvis collector" and declined to say who bought it.

Presley paid $10,000 to have the outfit made by Los Angeles designer Bill Belew, who created all of The King's stage wardrobe between 1968-1977. It captured the rock 'n' roll legend's fascination with peacocks as a good luck symbol and the auction house said it was among his favorite Belew designs.