Feb 23, 2014

Dylan’s Newport Stratocaster Soars to Nearly $1 Million

As comedian Don Adams used to say in his 1960-s TV comedy show Get Smart: “I missed it by this… much,” Christie’s appraisers had estimated that Bob Dylan’s 1964 Fender Stratocaster would bring $300,000 to $500,000 at auction. As I mentioned in an earlier article, my guess was that the guitar would bring closer to $1 million. It brought $965,000, including buyer’s premium.

This is the highest price any guitar has ever achieved at auction, topping the price received for Eric Clapton’s Strat “Blackie,” which sold for $959,500 in 2004. Clapton’s auction was for charity, which was partly responsible for the high price achieved. The proceeds from Dylan’s auction went to private parties.

The guitar, which Dylan used in his infamous “Dylan went electric” performance at the 1965 Newport Folk Festival, was re-discovered about a year ago after having been missing for more than 45 years. The tale of how the guitar was lost and then found is an interesting story; if you missed my earlier article then have a look at it.

After much legal wrangling, Dylan’s attorneys and the guitar’s “keeper” reached an agreement regarding who owned the instrument and how the auction earnings would be disbursed. All parties are mum on the details, and all have declined to be interviewed. Read More...

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