Poster created by Lennon and McCartney for US music festival sold for over £100,000

Beatles duo designed advert for 1967 Monterey Pop Festival

A poster designed by John Lennon and Paul McCartney for a US music festival has sold for $175,000 (£115,000).

The Beatles pair collaborated on the poster for the 1967 Monterey Pop Festival. McCartney was a member of the governing board for the festival that hosted performances from artists including Jimi Hendrix, Janis Joplin and Jefferson Airplane.

The ‘Peace to Monterey’ poster has special interest as it was conceived while the band were recording ‘Sgt Pepper’s Lonely Hearts Club Band’, and the colourful piece includes the album’s title.

The poster was sold by Beatles specialist Rockaway Records. The second-hand store is based in Silver Lake, LA and it says it is its biggest sale to date.

Meanwhile, the guitar John Lennon used while recording The Beatles’ ‘Love Me Do’ sold at a US auction for $2.4m (£1.6m) over the weekend.

The acoustic Gibson J-160E guitar was sold on November 7 to an anonymous bidder by Julien’s Auctions. It was expected to make around £500,000 at auction. The guitar was used by Lennon in 1962 but mysteriously disappeared in 1963, thought to be lost forever.

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Amateur musician John McCaw purchased the item for “a few hundred dollars” in San Diego during the 1970s. While reading a book by Andy Babiuk, McCaw noticed the similarities of his guitar with that of Lennon’s , and approached the Beatles expert to authenticate the piece of memorabilia. McCaw, who says that when he’s approached by fans “99 per cent of the time it’s nothing”, later found that the guitar’s serial number matched that of Lennon’s original.

Another Beatles item sold in the same auction was a drum head used by Ringo star on the Ed Sullivan Show in 1964. It sold for more than $2m.