An anonymous collector has shelled out $175,000 for a 7 3/4-inch by 12 3/4-inch poster made by John Lennon and Paul McCartney for the 'Peace to Monterey' event back in 1967, according to the Los Angeles Times. McCartney was member of the governing board at Monterey Pop, which held big rock festivals that were attended by Jimi Hendrix, Janis Joplin and other famous acts.

The said poster includes doodles by the two musical legends, which some may deduce to be of a lesser value due to its amateurish illustration. What makes the poster interesting however is it was made while The Beatles was recording 'Sgt Pepper's Lonely Hearts Club Band' and the album's name is clearly seen on the poster amidst the colourful texts and drawings.

Another factor that may have added to its value is the fact that Lennon and McCartney had very little artistic collaboration. They may have written a number of songs together but they weren't very fond of making posters or other art pieces together.

Rockaway Records, a second-hand shop in Silver Lake, LA known for its specialization of Beatles collectibles and memorabilia was the one who sold the poster. As to date, this is their biggest sale ever.

Just a few days ago, a John Lennon guitar also sold got sold at an auction at a hefty price of $2.6 million. This was a 1962 Gibson Acoustic guitar that was thought to have been lost. This was the guitar that Lennon used to play 'Love Me Do.'

Beatles memorabilia are known to rake in huge sales at auctions or to private buyers. According to this list compiled by Ask Men, John Lennon's Steinway piano sold at over $2,200,000and his 1965 Rolls -Royce sold at $2,600,000 are among the top 10 most expensive memorabilia ever. A drum head that was used by Ringo Star also sold for $2m.