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Signed copy of Beatles' 'Sgt. Pepper's' album sells for record $290,500

An auction house photography shows what is described as a
An auction house photography shows what is described as aHeritage Auctions via AP

Even Lucy and her diamonds can't compete with these riches. A rare, signed copy of The Beatles’ "Sgt. Pepper's Lonely Hearts Club Band" has brought $290,500 at auction, shattering the previous record for such an item.

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The item signed by all four members of the legendary band was purchased Saturday by an unnamed buyer from the Midwest. An anonymous seller parted with the album through the Dallas-based Heritage Auctions, which ahead of the bidding estimated the album would sell for $30,000.

The Fab Four are believed to have signed the cover near the June 1967 release of "Sgt. Pepper's." The previous record for a signed Beatles album cover was the $150,000 paid for a copy of "Meet the Beatles."

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Ahead of the auction, Beatles expert Perry Cox said of the piece: "With my being thoroughly immersed in Beatles collectibles for over 30 years, it takes something extraordinarily special to excite me, but I consider this to be one of the top two items of Beatles memorabilia I've ever seen -- the other being a signed copy of Meet The Beatles."

The album is a U.K. Parlophone copy with a high gloss cover and gatefold.