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Originally published Sunday, June 10, 2012 at 11:08 AM

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Les Paul guitar auction fetches nearly $5M

An auction of guitars and memorabilia owned by the late Les Paul, known as the godfather of the electric guitar, has raised nearly $5 million for a foundation in his name benefiting music education and innovation.

The Associated Press

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BEVERLY HILLS, Calif. —

An auction of guitars and memorabilia owned by the late Les Paul, known as the godfather of the electric guitar, has raised nearly $5 million for a foundation in his name benefiting music education and innovation.

Julien's Auctions of Beverly Hills said Sunday that the two-day sale fetched record-setting prices for guitars. The items most coveted by rock musicians, museum curators and collectors included a 1951 Fender No-Caster, which sold for $216,000, a 1982 Gibson Les Paul that went for $180,000 and a 1940s Epiphone Zephyr that fetched $144,000.

Other Paul memorabilia included a recording console ($106,250), research notes ($28,125) and guitar schematics ($40,625).

Paul invented one of the world's most widely played guitars, the Gibson Les Paul. The sale concluded Saturday, on what would have been his 97th birthday.

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