DESPERATE FOR CASH!

Money woes have Elvis’ ex all shook up

Panicking and pressed for money, Priscilla Presley is preparing to hold the “king of all garage sales” after selling her lavish Beverly Hills mansion and downsizing to an apartment.

According to a report by the National Enquirer, the former wife of The King has seen her income stream dry up in recent times, so she’s putting thousands of prized possessions up for sale to try and keep her head above water.

“Priscilla received millions from Elvis’ estate, but all that money has gone,” says an insider, who claims the 75-year-old actress has blown through a $3.87 million payoff and a stipend of $1.29 million a year for 10 years from her late ex-husband’s fortune.

And while she reportedly pocketed $16.7 million for her sprawling Spanish-style “sanctuary” when it sold in December 2020, the Naked Gun star still owed $7.73 million on the seven-bedroom spread. “She’s alone and needs cash to see her through the rest of her years,” says a source, hence her offloading more than 1000 pieces of designer clothing and shoes, artwork, European and American antiques and two truckloads of furniture priced from $65 to $6500!

“Selling things from that house will be heartbreaking for Priscilla,” adds the insider. “Many of the pieces were custom-made, like the semicircular corner bar, which was carved from a single piece of hardwood.”

The mother-of-two shelled out $6.19 million for her new three-bedroom home but it’s only around 278 square metres compared to her previous 836-square-metre estate, which also boasted a tennis court and swimming pool – amenities she’ll now have to share with the other residents in her building complex.

“Priscilla’s condo is considered ‘luxury’, but it’s in a community where everyone will be in her business. It’s a giant step down,” says a source.

“She never wanted to leave that villa. I believe she wouldn’t have sold it unless she had no other choice.”

‘She never wanted to leave that villa... it’s a step down’