IIRC, this was first shown around 2005 and was proven to be a fake back then.
Jewellery like that on one of his off stage outfits? Especially in 1970? I don't think so.
And a collar like that? Nah.
And no mention as to whether the alleged letter from Vernon was in the new owner's possession.
"(The Jaycees) went to Graceland to acquire something that belonged to Elvis" ... hmm.
A tad suspicious, methinks.