The $290,500 Album: Auction Sold A Rare Beatles Collection, Sgt. Pepper's Lonely Hearts Club Band, Signed By Fab Four In 1967

The Beatle’s $290,500 album that was just sold at a recent auction in Los Angeles could be one of the most expensive albums to date.

As reported by The Hollywood Reporter, a rare, signed copy of The Beatle’s Sgt. Pepper's Lonely Hearts Club Band was sold for $290,500 at an auction. The price has shattered previous records for such an item.

The $290,500 album that was purchased Saturday was signed by all four members of the legendary band. The unnamed buyer is from the Midwest. The anonymous seller parted with the album via the Dallas-based Heritage Auctions, which before the bidding, estimated that the item would sell for at least $30,000.

The Fab Four were believed to have signed the cover around the June 1967 release of Sgt. Pepper’s. The previous record for a signed Beatle’s album cover was $150,000; it was for the autographed copy of Meet the Beatles.

Beatles expert Perry Cox said "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 and has a high gloss cover and gatefold.