In December 1963, during The Beatles Finsbury Park Christmas Show, Lennon's guitar went missing and he later replaced it with a 1964 model.
According to Julien's Auctions, the 1962 J-160E Gibson Acoustic guitar was in the possession of John McCaw for decades.
The young musician bought it in the late 1960s without knowing it had been stolen from the legendary Beatle several years before.
Other outstanding results at the Icons and Idols: Rock n' Roll auction at Julien's Auctions include Elvis Presley's 24K Gold Leaf Piano which sold for another record price of USD 600,000.
The piano's original finish was walnut but Presley's wife, Priscilla Presley decided to adorn the piano in 24K gold-leaf finish as a gift for the couple's first wedding anniversary.
The most famous of the seven known Beatles drop-T logo drum heads - The Ed Sullivan drum head - was also auctioned, bringing in a final price of USD 2,125,000.
Notable highlights from the rockin' auction also included Kurt Cobain's cardigan, Michael Jackson's jacket that he wore to Elizabeth Taylor's wedding, MJ's music video and album cover worn ensemble, Presley's white deerskin leather ensemble, a Frank Sinatra painting, Joni Mitchell's stage played guitar, a Jimi Hendrix necklace gifted by Noel Redding, Freddie Mercury "The Invisible Man" video worn sunglasses, Madonna "Evita" worn skirt suit and a lock of John Lennon's hair and inscribed card.
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