An autographed copy of The Beatles’ album Sgt. Pepper’s Lonely Hearts Club Band has been bought at Heritage Auctions in Dallas for $290,500.

The selling price far exceeded the $30,000 originally estimated for the rare record.

The album was bought by an unnamed buyer from the Midwest, according to the Hollywood Reporter.

The autographed copy of The Beatles’ album Sgt. Pepper’s Lonely Hearts Club Band has been bought for $290,500

The sale also broke the previous record for a similar item, the entertainment magazine reported.

The UK Parlophone copy of the album includes a high gloss cover and gatefold. According to the Hollywood Reporter it was believed to have been autographed by all four Beatles near its release in June 1967.

The Heritage Auctions, which ran the sale, described it as “one of the most spectacular jewels in our auction”.

Speaking before the sale, Beatles expert Perry Cox said: “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.”

The album features an official souvenir programme of the fourth annual Beatles Convention of Cavern Mecca, dated August 26, 1984.

The previous record for a signed Beatles album cover was $150,000 which was paid for a copy of the 1964 record, Meet the Beatles in 2011.