Guitar bought by Beatles star George Harrison for £58 sells for more than £1 million at auction

A guitar bought by Beatles star George Harrison for about £58 has sold at auction for more than £1 million. 

The Futurama electric guitar was bought by Harrison when he was a 16-year-old apprentice electrician in 1959 and was paid for in 44 instalments after his mother signed a hire purchase agreement at Frank Hessys music shop in Liverpool. 

It went under the hammer in Nashville, Tennessee on Wednesday at Juliens Auctions Played, Worn & Torn sale, fetching £1.03 million (1.27 million dollars) - twice its initial estimate. 

Martin Nolan, executive director of Juliens Auctions, said the figure set a world record for the highest sale of a George Harrison guitar. 

George Harrisons iconic Futurama guitar, one of the most important guitars in rock and roll history and formative to The Beatles sound, has made history at todays auction, Mr Nolan said. 

Were beyond thrilled to add this Harrison guitar to the Juliens Auctions million-dollar club, which already includes guitars from John Lennon, Eric Clapton, and Kurt Cobain. 

 The Futurama electric guitar bought by George Harrison (pictured) has sold at auction for more than £1 million

The Beatles: Ringo Starr, George Harrison, Paul McCartney and John Lennon pictured in 1964

The auction house sold John Lennons Hootenanny acoustic guitar for £2.3 million (3 million dollars) earlier this year and has previously sold an acoustic guitar of Lennons for £1.8 million (2.4 million dollars). 

The guitar was sold by a collector who bought it in 2019, but the instrument almost had a different owner when it was offered in a competition for Beatles fans in Beats Instrumental magazine in 1964. 

The competition was won by an AJ Thompson, who lived in Saltdean near Brighton, East Sussex, but, when offered the chance to have money instead of the guitar he took the cash, Mr Nolan said. 

He probably took about £100 at most, because that would be the intrinsic value of the guitar at the time. 

He probably took his friends and family out for a nice evening and a good dinner and some drinks and then went on with his life. If only... Wouldve, couldve, shouldve!