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 gifted the jacket to Ginger Alden’s brother, which measures one metre, 20cm.
The jacket has leather shoulder, collar and pockets. It also features a leather belt that runs down the armpits, as well as an 8-button closure at the front.
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.”