The music legend - who tragically died in 1977 aged 42 - was married to the 72-year-old actress for five years before they split, and it is believed the legal documents marking the official end to the former couples marriage, which is dated August 15, 1972, is up for grabs.
According to Fox News the item is estimated to fetch between $26,000 to $33,000 when it goes on sale in the United Kingdom on Saturday (11.11.17), although when it first went up for sale six years ago the papers sold for under $8,000.
The 12-page document has been described as a ''fabulous piece of show business history'' for the lucky bidder, as it details interesting information about their relationship.
Speaking about the item, auctioneers Henry and Andrew Aldridge said: ''[It is] a fabulous piece of show business history.
''Each of the 12 pages contains fascinating details and offers the reader a snapshot into the details and offers the reader a snapshot into the details involved between both parties that only legal documents can give.''
The divorce papers state the duo - who have daughter Lisa Marie Presley together - agreed to divide their property to avoid any further ''emotional stress'', and the 'Can't Help Falling in Love' hitmaker had to hand over a number of his prized possessions, including his 1971 Mercedes Benz, Cadillac Eldorado, a Harley Davidson motorbike as well as $100.
And the documents also reveal the 'Dallas' star received half of the income from their three properties in Beverly Hills, Los Angeles and Palm Springs.
The document reads: ''The parties were married on May 1, 1967 in Las Vegas, Nevada. Unfortunate circumstances and unhappy differences have arisen between the parties by reason of which they have lived separate and apart since February 23, 1972, and by reason of which they intend to dissolve their marriage.''
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