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John Lennon’s ‘Paperback Writer’ Guitar Goes on Auction Block

A guitar belonging to the late Beatles singer John Lennon that was used in the recording session for "Paperback Writer" is expected to fetch up to £600,000 ($940,000) at an auction of rock 'n' roll memorabilia in London this weekend.

Although lot 214 -- Lennon's Gretsch 6120 guitar – won't come cheap, the buyer can rest-assured they have bought "one of the most significant of John's guitars to come onto the market in the last 30 years," according to auction website, tracksauction.com, who are holding the live sale Sunday afternoon. Sunday's auction gives Beatles fans the chance to buy what the auction house said is a "historically important instrument" -- a guitar photographed at the "Paperback Writer" session held at EMI studio 3, Abbey Road, London on April 14 in 1966 – when the Beatles "were approaching the peak of their recording powers." Customers wishing to bid on the guitar -- and on a full autographed LP sleeve of The Beatles '1967 Sgt Pepper album, a snip with a starting bid of £100,000 -- have had to be pre-approved by the auctioneer.

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-- Holly Ellyatt, CNBC