Renowned auctioneer Darren Julien reportedly declared on Friday that his company will not sell the crypt as fans worldwide demanded that it should be kept as a shrine in his memory.
Julien's Auctions had announced in May that it would sell the empty tomb at the Forest Hill Cemetery in Memphis, Tenn., at its "Music Icons" auction.
Presley had been buried next to his mother, Gladys, after he died Aug. 16, 1977.
Two months later, they were reburied at his Graceland home. The original crypt has remained bare ever since.
Julien reportedly confirmed that his company would not sell the crypt "until Forest Hills finds a plan that best suits the interests of the fans while respecting and preserving the memory of Elvis Presley."
Julien's auctions in Beverly Hills offers pieces of musical history in auctions which will see memoirs of the likes of Whitney Houston, Elvis Presley and Michael Jackson sold to the highest bidder.
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