• Wednesday, Nov 20, 2019
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The Beatles’ first management contract auctions for $347,000

  • Published at 08:13 pm July 17th, 2019
The Beatles
Legendary members of the iconic band The Beatles | Facebook

The identity of the winning bidder has not yet been revealed

Recently, the first contract signed between The Beatles and their legendary manager Brian Epstein sold for $347,000 (£275,000) at auction, reports BBC News.

The 1962 document features the signatures of Epstein and the members of the iconic band from Liverpool, England – John Lennon, Paul McCartney, George Harrison, and original drummer Pete Best, who was later replaced by Ringo Starr.

The item went under the hammer at Sotheby’s London to benefit the Ernest Hecht Charitable Foundation. The identity of the winning bidder has not yet been revealed.

Epstein played a vital role in the group’s rise to fame. The manager first spotted the band during a show at Liverpool’s Cavern Club in November, 1961, and the then record shop owner/music writer was determined to work with the group. Prior to that Epstein had no experience of managing a band. He was just blown away by the brilliance of the four talented musicians.

In his 1964 autobiography, A Cellarful of Noise, Epstein wrote: "It was because even though I knew I would keep the contract in every clause, I had not 100 per cent faith in myself to help the Beatles adequately. In other words, I wanted to free the Beatles of their obligations if I felt they would be better off.” 

McCartney, Harrison, and Best were under 21 at the time of the signing in Epstein's office at his NEMS record shop in Whitechapel, so they had their fathers summoned to co-sign the document.