The Beatles singer John Lennon's acoustic guitar was presented in a Beverly Hills auction last Saturday and had a price that reached to $2.4 million. The famous lost guitar was finally sold to an undisclosed buyer, reports suggest.

Lennon has been famous for singing and writing songs using the J-160E Gibson acoustic guitar, and, just last Saturday, the guitar was finally sold for auction at the escalated price of $2.4 million after being found after 50 years, The Chosunilbo reports.

It was The Beverly Hills auction house "Julien's Auctions" that hosted the anticipated sale of the famed 1962 guitar that Variety reports to be the one used for recording Lennon's songs like "All My Loving," "Please, Please, Me," "From Me to You" and "From Me to You."

Apparently, the guitar resurfaced when an undisclosed previous owner noticed similarities between one of his guitar collections to a photo of Lennon holding a guitar in a magazine that featured the story about Harrison's guitar collection, Variety reports.

When an expert was able to authenticate the guitar that originally belonged to Lennon, it was then put to auction. The Chosunilbo reports that the proceeds from the sale of the guitar went to a non-profit organization, which was founded by Lennon himself and his wife Yoko Ono.

The auction house released a statement regarding the recently found original instrument of the iconic singer saying that it "represents a rare and significant guitar to John Lennon's history."

Juliens Auctions further stated that the item is "the most historically important guitar associated with The Beatles."

The Chosunlibo further reveals that the guitar has been missing since the band's show back in December 1963 titled "The Beatles Finsbury Park Christmas."

The recently sold guitar was also revealed to have been specially ordered by Lennon and George Harrison, who both asked for the same guitar only with different serial numbers back in 1962.

The guitars were purchased at Rushworth's Music House in Liverpool and were flown from the U.S. to England for the use of The Beatles' numerous recordings and performances. Now, after 50 years, Julien's Auctions revealed in a statement quoted by The Chosunlibo that it "has never been modified in any way."

Meanwhile, Ringo Starr's original drumhead used by on The Beatles during their television appearances back in 1964 on "America's Ed Sullivan Show" was also sold for $2.1 million.