Beatle Magic Transforms $6 Guitar

George Harrison's first guitar — "a real cheapo" given to him by his parents — has sold at auction for more than 276,000 pounds ($469,200).

The guitar was part of an annual Beatles sale by music memorabilia firm Cooper Owen, conducted Thursday at the Hard Rock Cafe in London. Bids were taken at the cafe, by phone and on the Internet.

Also Thursday, it was announced that Harrison is being inducted into the Rock and Roll Hall of Fame as a solo artist. He is already there as a member of The Beatles.

He leads a class of 2004 inductees that includes Prince, Jackson Browne, Bob Seger, Traffic, ZZ Top and the Dells.

Harrison's father spent around 3.50 pounds ($5.95) for the Dutch-made Egmond guitar. In The Beatles Anthology book, Harrison described it as "a real cheapo, horrible little guitar but it was OK at the time."

Another guitar, which Harrison gave to his late friend Spike Milligan of The Goons, sold for about 15,000 pounds ($25,500).

Auction items also included autographed photos, a contract to play a club show and a corduroy coat once worn by John Lennon.

As a solo artist, the singer and guitarist's songs included "All Those Years Ago" and "Got My Mind Set On You," although his career was always eclipsed by the legendary success of his old band. He died in November 2001 at 58

Artists are eligible for induction into the hall 25 years after their first recording is released. Prince, whose biggest album remains the multiplatinum disc "Purple Rain," is being inducted upon his first eligibility.

The induction ceremony is scheduled for March 15 in New York City.