March 23, 2013 at 9:40 AM ET
A copy of "Sgt. Pepper's Lonely Hearts Club Band" autographed by all four Beatles up for auction has already surpassed its estimated price by tens of thousands of dollars, The Associated Press reports.
Bidding began at $15,000 with the Dallas-based Heritage Auctions expecting the copy to sell for about $30,000. Early bidding, however, has already pushed the price to $110,500. The auction itself is set for March 30th, and the house says the price could exceed $150,000 by then.
Each respective Beatle penned his name above his head on the record's gatefold, and the auction company's consignment director Gary Shrum says the bidding has "taken on a life of its own." He added that the spike in the record's cost could be do to the rarity of such a high quality autograph and that "people are responding to that."
In other Beatles auction news, it was announced Thursday that a custom-built VOX guitar played by both George Harrison and John Lennon around the time of "Magical Mystery Tour" would be up for sale at Julien's Auctions on May 18th in New York, and is expected to fetch between $200,000 and $300,000.