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Beatles album 'sells for $290,500 at auction'

The Beatles arrive at John F. Kennedy Airport in New York on February 7, 1964
English band the Beatles -- from left to right, John Lennon, Ringo Starr, Paul McCartney and George Harrison -- arrive at John F. Kennedy Airport in New York on February 7, 1964. A rare, signed copy of The Beatles' album "Sgt. Pepper's Lonely Hearts Club

A rare, signed copy of The Beatles' album "Sgt. Pepper's Lonely Hearts Club Band" has been sold for a record $290,500 at auction, The Hollywood Reporter said.

The entertainment magazine reported on its website that the album, signed by all four members of the famous band, was purchased Saturday through Dallas-based Heritage Auctions by an unnamed buyer from the Midwest.

Earlier estimates suggested the album would sell for about $30,000, the publication said.

The Beatles are believed to have signed the cover around June 1967 when the album was released.

According to The Hollywood Reporter, the previous record for a signed Beatles album cover was $150,000, which was paid for a copy of "Meet the Beatles."

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