The ‘Elvis Is Alive’ museum is set to re-open after an Elvis fanatic brought the entire collection off eBay.

The future of the Missouri based museum had been in doubt after the exhibits curator, Bill Beeny, announced that he was to sell his 17-year-old collection.

However, the collection – which includes rare memorabilia such as a replica of the Cadillac that Presley drove – has now been brought for $8,300 by fellow fan Andy Key.

It’s understood that the extensive artefacts will now move to Presley’s home state of Mississippi.

"I have no idea when the new museum will open but if Elvis wants to come to the opening, he can certainly come back,” Key said.

Presley died of heart failure in August 1977 at the age of 42.