Guitar Player magazine’s February 2015 issue shows the guitar that was auctioned to Colts owner Jim Irsay. (Guitar Player Magazine/www.guitarplayer.com/)

Indianapolis Colts owner Jim Irsay has reportedly purchased a famous 1954 Les Paul Gibson guitar known as “Black Beauty” at auction for $335,500. Irsay is widely known for his extensive guitar collection, part of which has been displayed at an Indianapolis museum in recent years.

Guernsey’s auction house stated the six-string with gold-plated hardware set the guitar standard for other Les Paul Gibsons. There was no pre-sale pricing estimate given, but the auctioneer called it the “most significant electric guitar ever made.”

Paul, a blues, jazz and country guitarist, made frequent modifications to his guitars over the years to refine their sound. Some of his hit songs include “How High the Moon,” “Mockin’ Bird Hill,” “Bye Bye Blues” and “I’m a Fool To Care.”

Paul began collaborating with Gibson to build guitars in 1940. “Black Beauty” was given to one of Paul’s friends, guitar technician and builder Tom Doyle, years ago. It is considered a holy grail among musicians.

The auction record for guitars belongs to the Fender Stratocaster played by Bob Dylan at the Newport Fold Festival in 1965. It sold for $965,000 in 2013.

Source: WISH