LOS ANGELES (AFP).- A rare, signed copy of The Beatles' album "Sgt. Pepper's Lonely Hearts Club Band" has been sold for a record $290,500 at auction, The Hollywood Reporter said.

The entertainment magazine reported on its website that the album, signed by all four members of the famous band, was purchased Saturday through Dallas-based Heritage Auctions by an unnamed buyer from the Midwest.

Earlier estimates suggested the album would sell for about $30,000, the publication said.

The Beatles are believed to have signed the cover around June 1967 when the album was released.

According to The Hollywood Reporter, the previous record for a signed Beatles album cover was $150,000, which was paid for a copy of "Meet the Beatles."

Renowned Beatles expert Perry Cox avers, "With my being thoroughly immersed in Beatles collectibles for over 30 years, it takes something extraordinarily special to excite me, but I consider this to be one of the top two items of Beatles memorabilia I've ever seen - the other being a signed copy of Meet The Beatles."

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