Uri Geller has magically lost out on buying a house formerly owned by Elvis Presley.

After placing the winning bid of $905,100 for the home on eBay, the vendors instead sold the place to a foundation owned by music producer Mike Curb.

After placing the bid, Geller declared, "We are unbelievably pleased. This is a piece of history." Yet, now, Geller says, "We are absolutely, mind-blown angry. Of course we're going to sue."

According to the BBC, it is not known how much Curb paid to the sellers, a married couple, for the four-bedroom home which Presley bought in 1956 with royalties from Heartbreak Hotel. The rules of auction website eBay may make it difficult for Geller and his two business partners, lawyer Pete Gleason and jewellery-maker Lisbeth Silvandersson, to pursue a breach of contract claim.