More than 200 pieces of jewelry purchased by Elvis Presley are set to hit the auction block. Presley reportedly bought the items — which include gold rings, cufflinks, watches and necklaces — for his manager, Colonel Tom Parker, according to GWS Auctions. Several of the items are emblazoned with the letters “TCB,” which stand for “Taking Care of Business.” Priscilla Presley — who helped design a number of the items — says she and Elvis bought so many pieces of jewelry for Parker because he already had “everything” and they never knew what to give him. The guitar Presley used during his 1968 “comeback” special will also be available. GWS will accept bids on the items starting August 27th….The flaming red Hagstrom Viking II guitar currently retails for $1,399.99, the auctioneer predicts the instrument played by Elvis will fetch a far greater price when it’s auctioned off.