Posted on 07/29/2015 7:28:49 PM PDT by aMorePerfectUnion
John McCaw is a building contractor from San Diego who struck jackpot way back in 1969 without even knowing it.
The story actually began in 1962, when John Lennon and George Harrison of The Beatles got themselves a pair of matching Gibson J-160E guitars.
About a year later, John's six-string was stolen after the band's pre-Christmas show in London.
A few years later Mr. McCaw's friend had unknowingly bought Lennon’s Gibson in a local music shop. In 1969, that friend sold it to McCaw for about $175, or about $1,100 when inflation-adjusted for 2014.
45 years later, after using the legendary J-160E to teach his sons how to play guitar and strumming on it during many amateur jam sessions throughout the decades, McCaw got a hold of a 2012 issue of Guitar Aficionado. The magazine featured George Harrison wielding a six-string with striking similarities to John's old guitar.
After reaching out to international experts, McCaw had the guitar examined and, lo and behold, got a certificate of authenticity based on a string of contributing factors.
"Then it became a whole different piece," the man told NBC. "Before, it was a guitar. And after it was authenticated, it became a Holy Grail." The guitar has been used by Lennon on several early Beatles hits, including "Love Me Do," "I Want to Hold Your Hand," "She Loves You," and more.
The six-string will be auctioned in Los Angeles, with experts estimating it will fetch between $600,000 and $800,000. An amazing story it is.
If it was stolen, then shouldn’t it be worth $0 to the current holder?
If I bought a guitar at a garage sale for $175, it would fall apart on the way home.
And yes, where does the stolen property issue come in? Will Yoko sue this guy? That would not surprise me.
I think it legally belongs to Lennon’s estate. The current owner probably cannot profit from it.
Did someone swap out the nut for brass? They really weren’t using brass nuts until the 70s when they became quite popular. Seems odd it would be on an early 60s instrument as stock.
If Lennon didn’t continue to search for it all those years, then he can be said to have abandoned it; and a buyer in good faith can keep it.
Was this story penned by Yoda?
The nazis stole a lot of art during the war; descendants of the original owners have to prove that they continued to search for their property over the years, without ever giving up, if the property has gone through several buyers since then.
If they can prove they kept searching, then they can claim the property; otherwise, a buyer in good faith (who may be way down a chain of a line of other buyers and sellers) can keep it.
Ditto, I would think, for Lennon’s guitar.
Check out the comments section where people are asking about John Lennon's guitar.
Judging by the Beatles era the guitar would be valued in 2007 at between $5,500-$8,000.
Vintage Price Value For 2007 :
1954 - 1961 > $4 500 to $6 500
1962 - 1964 > $5 500 to $8 000 ( Beatles Era )
1965 - 1968 > $3 500 to $4 500
1969 - 1970 > $2 100 to $2 500 ( square shoulders )
1971 - 1979 > $1 400 to $1 900
1991 - 1997 > $1 700 to $2 000 ( j-160 reissue )
If this article is correct, and the auction estimated value is 100 times the value based on the person it belonged to. Incredible.
I don’t know. Okay, Lennon didn’t pursue the theft. He had a life to lead. Does that mean it’s OK to steal from others? The guitar belongs to the estate. Criminal activity should not be allowed to profit.
Dang....and I thought the new, unopened 1960 Hi-Ho Cherry-O game I bought, at a garage sale, was a find.
I saw something similar on Pawn Stars. A coin I think was bought and it did not check stolen. But when he sent it to be appraised he was informed it was stolen. However the insurance company had already settled with the owner thus the coin belonged to the store.
I agree with you in principle but the problem is that the guy who profited from the theft has long been paid off and is out of the picture. The guy who bought it now had nothing to do with the theft or any knowledge of it, I’m sure. By your measure, anyone shopping in a resale situation could be held liable if the item they purchase is found to have been stolen. That doesn’t seem right either.
Yeah, but Rick would tell you that it’s such a rare item that the market is very limited, and it’s probably really only going to bring in about $29.95.....
Why ask do you?
;D
bttt
The ghost of George Harrison sings,”Taxman, and While My Guitar Gently Weeps”, John says it’s just a guitar,
‘Nothing to get up about!”
I remember a number of years back the daughter of an airplane pilot had a guitar that Bob Dylan had left on a chartered plane. The daughter settle out of court, compensating Dylan for the guitar. If they had gone forward it was pretty apparent that the daughter would have ended up with nothing.
Good point ......I can’t tell is it brass or something like bakelite ?
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