John Lennon's Lost Guitar Sells For $2.4 Million At SoCal Auction

BEVERLY HILLS (CBS/AP) -- An acoustic guitar that John Lennon used to record and write "Love Me Do," "I Want to Hold Your Hand" and other hit songs has sold for $2.4 million at auction in Southern California.

Julien's Auctions said the Gibson J-160E guitar was sold Saturday to an undisclosed buyer.

The auction house said the guitar was one of only two of its type flown from America to England in 1962 for Lennon and George Harrison. Lennon used the guitar for about a year before swapping it with Harrison; it later went missing in 1963.

The guitar's whereabouts was unknown for over 50 years until a San Diego man discovered last year that a guitar in his possession may have historical value. An expert was able match the instrument's unique markings to the one Lennon used.

Lennon's Gibson now ranks among the most valuable guitars ever sold.