The 1962 J-160E Gibson acoustic guitar originally owned by John Lennon and used for recording hit songs such as Love Me Do and I Want to Hold Your Hand was sold at an auction in Beverly Hills, California, for $2.41M (£1.5m).
Darren Julien, the auctioneer, expressed that the selling price exceeded his expectations. "It's such an important part of Lennon's career and Beatles history," he said. "I knew it would go over $1m; I had no idea it would go over $2m."
According to BBC News, John McCaw, a novice musician from San Diego, bought the guitar in 1969 for $275. Little did he know that the instrument in his possession had historical value. The guitar owned by the former Beatles was said to be stolen in 1963 during a December Christmas concert.
It took over 50 years before John McCaw realized that the guitar in his possession might have great value. He only found out last year when he chanced upon a magazine featuring Harrison and a photo of the instrument.
In a report published by the Guardian, it was one of the only two guitar types flown to England for John Lennon and George Harrison. It was flown from the USA after Lennon bought it at a Liverpool music shop in 1962. Lennon kept the guitar for a year before deciding to swap it with that of Harrison's.
Andy Babiuk, a Beatles' instruments expert, checked the guitar and confirmed it was indeed the guitar of Lennon because of its unique markings. The serial number and wood grain also matched and the instrument compared with photographs and films.
Darren Julien further revealed that a Beatles drum head was also sold during the auction for $2.1m. Both items were considered to have garnered the highest prices ever for rock and roll memorabilia.
Fifty percent of the guitar's sales will go to a charitable organization created by both Julien and his widow Yoko Ono - the Spirit Foundation.
The buyer requested for anonymity.
