John Lennon guitar

John Lennon’s Framus 12-string Hootenanny acoustic guitar with case, estimate $600,000-800,000 (£485,000-647,000) at Julien's Auctions. Credit: Julien's Auctions.

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It was used in the recording of The Beatles’ Help! album and featured in 1960s hits including Help! and You’ve Got To Hide Your Love Away as well as on the rhythm track for Norwegian Wood played by George Harrison.

The guitar, long forgotten and believed to have been lost, was recently found in an attic in a home in the British countryside.

The homeowners found the guitar in the midst of a house move and contacted Julien’s Auctions. Executive directors and founders Darren Julien and Martin Nolan travelled to the UK to view it and discovered it still had its original Maton Australian-made guitar case.

John Lennon guitar

John Lennon’s Framus 12-string Hootenanny acoustic guitar, estimate $600,000-800,000 (£485,000-647,000) at Julien's Auctions. Credit: Julien's Auctions.

The guitar and case will be offered at Julien’s Music Icons two-day auction on May 29-30 at Hard Rock Cafe in New York. It has an estimate of $600,000-800,000 (£485,000-647,000) but the saleroom believes it could set a new auction record for the highest-selling Beatles guitar.

Darren Julien, co-founder and executive director at Julien’s Auctions, said: “The discovery of John Lennon’s Help! guitar that was believed to be lost is considered the greatest find of a Beatles guitar since Paul McCartney’s lost 1961 Höfner bass guitar. It still looks and plays like a dream after having been preserved in an attic for more than 50 years.”

Julien’s has sold other Beatles memorabilia, including a previous Lennon acoustic guitar which made $2.4m and Ringo Starr’s Ludwig drum kit at $2.2m.

The guitar, and other items from the two-day sale, will be on view at Hard Rock Cafe on Piccadilly until April 29 and at Hard Rock Cafe in New York from May 22-28.