Follow CBSDFW.COM: Facebook | Twitter

MEMPHIS, Tenn. (CBSDFW.COM/AP) — An auction of Elvis Presley memorabilia will be part of a celebration for what would have been the late rock ‘n’ roll icon’s 81st birthday.

READ MORE: Dozens Of Homes Were Evacuated Due To Wildfire In Central Texas

Elvis Presley Enterprises says fans are expected to gather at Graceland, Presley’s Memphis home, for a cake-cutting ceremony January 8. Guest speakers will include Glenn Derringer who, as an 11-year-old pianist, appeared on the Dorsey Brothers Show with Presley in March 1956. Also speaking will be June Juanico, who dated Elvis.

The Auction at Graceland will take place January 7. Among the 126 authenticated artifacts is the guitar Presley played during the “Aloha from Hawaii” concert in 1973. The Gibson Ebony Dove guitar has an estimated value of $300,000 to $500,000.

READ MORE: Greenhill Seniors Lee Dort And Noah Shelby To Continue Unique Bond At Vanderbilt University

Presley was born in Tupelo, Mississippi, on January 8, 1935. He died in Memphis on August 16, 1977.

Last year on Presley’s 80th birthday an acetate disk of his first recording sold for $300,000.

MORE NEWS: 3 Teens Killed In Double Murder-Suicide Near Houston, Sheriff Says

(©2015 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)