A RING previously owned by Elvis Presley has been sold for £24,200 to a buyer from America during an auction in Great Sankey.

According to Omega Auctions, the 14ct gold and diamond Russian Tsar claw crest ring was one of Elvis’ most prized possessions.

He can be seen wearing it in more than one hundred concerts.

The ring originally belonged to Elvis' father, Vernon Presley, who passed it down to his son.

Some two weeks before Elvis was due to perform in Mobile Alabama on August 29, 1976, Tommy Milham was first in line to buy tickets at the Municipal Auditorium.

Mr Milham queued all night to make sure he got his hands on a ticket. 

The same evening the staff from the Mobile Press interviewed Mr Milham for the newspaper reporting how he waited in line with hot drinks, lunch and a portable chair to sleep on. 

Mr Milham sat in the front row for the concert and when Elvis spotted him waving the newspaper with the headline 'First In Line With Patience' Elvis approached him and took the newspaper. 

He read the headline, and thanked the fan by asking if he'd like a scarf. 

Mr Milham pointed at the huge ring Elvis was wearing and shouted ‘No, I want that ring’.

Elvis told him that he couldn't give his ring away and handed him a scarf instead. 

Mr Milham shouted again, demanding the ring. 

Elvis finally shrugged his shoulders and with an embarrassed look he slipped the ring from his finger and handed it to Mr Milham. 

The gesture made the New York Times and some TV stations and, years later, the story appeared in Becky Yancey's book My Life With Elvis. 

The current owner, who bought the ring from Mr Milham in 2004, has decided to sell the ring due to health issues.