What’s Goin’ On

Dylan Guitar Sells for $396K

Seller had purchased it in 1977 for $500

Harrison, Dylan, & Russell Perform Onstage

The acoustic guitar Bob Dylan strummed at 1971's Concert for Bengladesh continued to make sweet, sweet music over the weekend when it sold at auction for $396,500.

The price paid by the anonymous buyer exceeded the pre-auction estimate by almost $100,000, reports Dallas-based Heritage Auctions.

The 1963 Martin D-28 belonged to Dylan's former guitar repairman, Larry Cragg, who bought it from the folk hero for $500 in 1977.

Dylan strapped on the guitar when he famously showed up at the Bengladesh benefit at Madison Square Garden. Performing as a favor to friend and concert organizer George Harrison, Dylan performed five songs at the matinee and evening performances, starting with "A Hard Rain's A-Gonna Fall" and closing with "Just Like a Woman."

Dylan also reportedly played the same guitar during his Rolling Thunder Revue tour from October 1975 to May 1976.

Photo by Bill Ray/The LIFE Picture Collection/Getty Images