Autographed Beatles Album Sells For More Than Most Houses (Plus: Is There Gold in Your Record Collection?)

Image: Heritage Auctions

Would you pay almost $300,000 for an old record? This past weekend, someone did just that. And yes, the above photo is a shot of this very expensive album. At almost $300,000, the price of this record easily eclipsed the median home price in America last month.

Image: Ycharts.com

On Saturday, an autographed copy of "Sgt. Peppers Lonely Hearts Club Band" from The Beatles was sold by Heritage Auctions in Dallas, TX. The catalogue for the auction stated that the rare album was expected to fetch about $30,000.

It might be the understatement of the year to say that auction house's estimate was a little conservative.

Image: Heritage Auctions

As you can see, there were 18 bidders for the 1967 Beatles album, some via the web and some on the phone. In the end, one lucky (and deep-pocketed) fan reported by the Associated Press to be from the Midwest, purchased the lot for $290,500 (that includes the buyer's premium -- a fee paid by the winning bidder).

Image: Heritage Auctions

What does $290,500 buy you? Of course you get the album cover seen above, with the four autographs of The Beatles on the inside spread. The vinyl is also included (below).

Image: Heritage Auctions

In order to guarantee the buyer's confidence in their purchase, reputable auction houses typically include a certificate of authenticity when selling. This paperwork is often called "provenance" and typically traces the origin of an item, giving it a traceable history.

Image: Heritage Auctions

In some cases, additional documentation from experts in a specific category may be added to an auction item. Heritage Auctions also had Beatles expert, Frank Caiazzo review the signatures and the condition of the album. Caiazzo's opinion was also part of the package.

Image: Heritage Auctions

The Beatles lp was not the only high dollar showbiz item sold during Saturday's Heritage Auction. Marlon Brando's 1954 "Best Actor" Golden Globe award from the Hollywood Foreign Press was also on the block. Brando won the award for his performance in "On The Waterfront." The statue (seen below) brought in a healthy $68,500.

Image: Heritage Auctions

During our research for this story, we came upon some information that might be useful for readers of TheBlaze -- especially those with stacks of vinyl records sitting around the house.

Mighty John The Record Guy sent us his latest list of valuable vinyl records. You might find them in your record collection of in bins at yard sales around the country.

According to Mighty John's professional estimates, here are 10 records with the top-dollar prices that some are fetching from vinyl collectors;

• 1963 Tamla LP-Marvin Gaye- “That Stubborn Kinda Fella”...................................$500.00
• 1959 Imperial 78- Ricky Nelson- “It’s Late”.........................................................$500.00
• 1962 Electra LP- The Electras- “The Electras” with Secretary of State John Kerry......$500.00
• 1966 Capitol LP- The Beach Boys – “Pet Sounds” (mono).......................................$600.00
• 1963 Swan 45- Beatles- “She Loves You” (white label, red or blue print)...................$600.00
• 1968 Colgems LP- Monkees- “The Birds, The Bees, and the Monkees (mono)...........$700.00
• 1975 Adam VIII LP- John Lennon- “Sings Great Rock and Roll Hits”......................$750.00
• 1960 RCA 45- Elvis- “Are You Lonesome Tonight” (stereo).....................................$800.00
• 1963 Columbia 45- Bob Dylan- “Mixed Up Confusion”.........................................$1,000.00
• 1978 Rolling Stones 45- Rolling Stones- “Beast of Burden” picture  sleeve..............$3,000.00

(Mighty John warns that the Rolling Stones 45 is one that has been counterfeited. He notes that originals are light lavender, grape or purple colored sleeves are probably counterfeits.)

(H/T:  Mighty John The Record Guy)