The legendary 12-string Framus Hootenanny John Lennon it sold for a record price of $2.9 million, making it the most expensive Beatles guitar ever to come to auction.

The rare German-made instrument used in the recording of the album and the accompanying film “Help!” by the Beatles in 1965, has been lost for more than 50 years, the Guardian reports.

Lennon gave it to Scottish songwriter Gordon Waller of Peter and Gordon, who in turn gave it to one of the band’s managers.

After several decades the new owners of a country house discovered it in the attic during their move and put it up for auction with an initial estimate of between £485,000 and £647,000.

The guitar was purchased by telephone bidding at the Hard Rock Cafe in New York, according to Julien’s Auctions.

“We are thrilled to be honored to set a new world record with the sale of John Lennon’s lost Hootenanny guitar. This guitar is not only a piece of musical history but also a symbol of his timeless legacy.” said David Goodman, CEO of the house.

The guitar’s notes, which were made by the Framus company in the early 1960s, were heard in the movie “Help!” when the top band performed ‘You’ve Got to Hide Your Love Away’. It was also used during the recording of the songs ‘Help!’, ‘It’s Only Love’, ‘I’ve Just Seen a Face’, ‘Girl’, as well as ‘Norwegian Wood’ by George Harrison.

Co-founder and executive director of the house, Darren Julien, said that when he had traveled to the UK to verify the identity of the valuable object he rescued its case which had been thrown into a rubbish bin.