Rediscovered John Lennon Guitar Heads to Auction, Expected to Set Records

Lost for decades, an acoustic guitar John Lennon used at the height of the Beatles’ fame is going up for auction after being found in the attic of a home in the British countryside.

The 1965 Framus Hootenanny is arguably one of the most historically important guitars in the history of the Beatles, and was used on some of the group’s classic songs and played by Lennon in the movie Help! , released the same year.

The 12-string acoustic guitar will headline Julien’s Auctions Music Icons event on May 29 and 30 at the Hard Rock Cafe in New York, the auction house announced Tuesday morning in London.

Darren Julien, the firm’s co-founder and executive director, expects the Framus to exceed its presale estimate of between US$600,000 and US$800,000 and says it could set a new record for the highest-selling Beatles guitar, a record his auction house set nearly a decade ago.

The guitar was found earlier this year.
Rupert Hitchcox/Julien’s auctions

“Julien’s sold a John Lennon [Gibson J-160E] guitar in 2015 for US$2.4 million, and because this, historically speaking, is a more significant guitar, our expectation is that this guitar—played by John Lennon and George Harrison on the Help! album and other recordings—will be in the top five most expensive guitars ever sold at auction,” Julien says. “It’s likely the last chance for someone to buy and personally own an iconic John Lennon/George Harrison guitar.”

While equating its discovery to that of a “lost Rembrandt or Picasso,” Julien believes this is the greatest find of a Beatles guitar since Paul McCartney ’s lost 1961 Höfner bass, which was returned to him in February after it had been stolen in 1972.

The rediscovered Framus was famously seen in the 1965 film Help! , and was used in recording sessions for classics such as “You’ve Got To Hide Your Love Away,” “It’s Only Love” and “I’ve Just Seen A Face.” It was also played by George Harrison on the rhythm track for “Norwegian Wood” on the 1966 album Rubber Soul .

According to the auction house, by the late-1960s the guitar was in the possession of Gordon Waller of the British pop duo Peter & Gordon, who later gave it to their road managers. The instrument was recently discovered in an attic in rural Britain where it sat forgotten and unplayed for more than 50 years. After finding the guitar in the midst of a move, the homeowners contacted Julien’s.

Along with co-founder Martin Nolan, Julien traveled to the U.K. and immediately recognised that it was the storied Help! guitar. While on the premises, they also discovered the original guitar case in the trash and rescued it. It’s an Australian-made Maton case that can be seen in photos taken of The Beatles in 1965 The sale of the guitar is accompanied by the case and a copy of the book The Beatles: Photographs From The Set of Help by Emilo Lari.

In addition to Lennon’s acoustic Gibson J-160E—which fetched three times its presale estimate—Julien’s has broken multiple Beatles records, including Ringo Starr’s Ludwig drum kit (which sold for US$2.2 million), the drumhead played on the Ed Sullivan Show (US$2.2 million), and a personal copy of the White Album , (US$790,000), all of which sold in 2015.

Julien’s also holds the record for the world’s most expensive guitar ever sold at auction: Kurt Cobain’s MTV Unplugged 1959 Martin D-18E acoustic electric guitar, which sold in 2020 for US$6 million.

More than 1,000 pieces of music memorabilia will also be part of the auction, including items used by the likes of AC/DC, Nirvana, Guns N’ Roses, Judas Priest, Heart, Queen, and Tupac Shakur.

Sartorial highlights include custom dresses worn by Tina Turner (Versace) and Amy Winehouse (Fendi), both of which are expected to sell for between US$4,000 and $6,000, and Michael Jackson’s stage-worn “Billie Jean” jacket from 1984’s Victory Tour (presale estimate: US$80,000 to $100,000).

Bidders will have the chance to buy items benefitting a pair of U.K. charities. Several collectibles from The Who and other British musicians will be sold to benefit the Teenage Cancer Trust, and an assortment of memorabilia—ranging from a Stella McCartney dress worn by Helen Mirren and an Armani jacket stage-worn by Phil Collins to artwork created and signed by Pierce Brosnan—will be offered to help fund the King’s Trust.

Rounding out the two-day auction is Randy Bachman’s collection of more than 200 museum-quality guitars. Known for his role in The Guess Who and Bachman-Turner Overdrive, the Canadian rock star used the instruments on hits such as “These Eyes,” “Takin’ Care of Business,” “You Ain’t Seen Nothin’ Yet,” and “American Woman.”

The public can view the Help! guitar and other auction highlights at Hard Rock Cafes in London (April 23-29) and New York City (May 22-28).

Reporting season has once again reminded investors that a strong profit does not guarantee a rising share price, and a large loss does not always trigger a sell-off. What matters most is how each result compares with expectations and, increasingly, what management says about the year ahead. During the August 2026 season, companies offering credible turnarounds or unexpectedly strong guidance were rewarded handsomely, while those flagging weaker margins, slowing demand or greater uncertainty were punished.

The following ranking draws on Morningstar’s review of 164 ASX-listed companies and measures each company’s share-price movement on the day it reported. This captures the market’s immediate response to the earnings announcement, before subsequent economic developments, dividends and company-specific news cloud the picture. Here are the five biggest winners, and the five hardest-hit losers, of the season so far.

The five winners

1. Bapcor (ASX:BAP): +41.0%

Bapcor delivered reporting season’s largest relief rally after presenting early evidence that its troubled automotive-parts business was stabilising. Although underlying revenue fell 1.8% to $1.92 billion and underlying NPAT collapsed 85% to $10.8 million, underlying EBITDA of $152.5 million exceeded guidance.

More importantly, working-capital initiatives released $68.5 million in the second half, lifting cash conversion to 109.4% and reducing net debt by 63% to $135 million. The statutory loss was $431.6 million, largely because of non-cash impairments. Investors focused on improving operational momentum, stronger liquidity and management’s expectation of modest FY27 revenue growth.

2. Zip Co (ASX:ZIP): +18.2%

Zip comfortably surpassed its FY26 targets, sending the buy-now-pay-later provider’s shares sharply higher. Transaction volume rose 23% to $16.7 billion, while cash earnings before tax, depreciation and amortisation jumped 58% to a record $268.9 million. Statutory profit climbed 46% to $116.4 million, and the cash operating margin expanded by 4.2 percentage points to 20%.

The strongest signal was guidance for FY27 cash earnings of $340 million—around 26% growth and above analysts’ forecasts. US transaction volume increased 42.5% and now represents three-quarters of group volume, offsetting weaker customer activity in Australia.

3. CSL (ASX:CSL): +17.3%

CSL’s result was hardly spectacular in isolation, but it cleared a market bar that had fallen dramatically following earlier downgrades and restructuring announcements. Underlying NPATA was US$3.1 billion, down 2% in constant-currency terms, while operating cash flow reached US$3.51 billion.

CSL maintained its full-year dividend at US$2.92 per share and completed a A$1 billion buyback. The real catalyst was FY27 guidance for approximately 5% underlying profit growth, compared with market expectations closer to 2%. After an extended period of earnings disappointments, investors interpreted the outlook as evidence that CSL’s core plasma business was approaching a sustainable recovery.

4. Judo Capital (ASX:JDO): +16.9%

Judo Capital demonstrated strong operating leverage as its specialist business-lending franchise expanded. Full-year profit before tax rose 34% to $168.1 million, while pre-provision profit increased 42%. Gross loans and advances grew 18% to $14.7 billion, reaching the top of the bank’s guidance range and comfortably exceeding broader system growth.

Deposits increased 24% to $12.2 billion, return on equity improved by 1.1 percentage points to 6.4%, and earnings per share rose 29% to 9.9 cents. Reaffirmation of the FY27 outlook gave investors confidence that loan growth could continue without sacrificing margins or credit quality.

5. Super Retail Group (ASX:SUL): +15.8%

The owner of Supercheap Auto, rebel, BCF and Macpac reported record sales of $4.2 billion, up 3.2%, despite cautious discretionary spending. Profitability went backwards: normalised profit before tax fell 7% to $306 million and normalised NPAT declined 2.8% to $226 million as transformation spending weighed on margins. Nevertheless, the result exceeded subdued expectations, online sales grew 5.3% and membership across the group’s loyalty programs reached 13.1 million. Investors were also encouraged by positive early FY27 trading, stable gross margins and continued market-share gains. A fully franked 33-cent final dividend added to the appeal.

The five losers

1. Hansen Technologies (ASX:HSN): –21.2%

Hansen’s historic result met expectations, but investors recoiled from its outlook. The utility and communications software provider achieved an underlying EBITDA margin of 31%, exceeding its 30% target, while generating strong cash flow. However, management designated FY27 an “investment and transition year”, signalling a roughly five-percentage-point margin contraction as spending on products, sales capabilities and organisational changes increased.

Revenue had already been broadly flat, leaving investors concerned that the investment program would depress earnings before new growth appeared. Leadership changes, including the chief executive’s departure, added uncertainty. Management expects revenue growth and margins above 30% to return in FY28, but the market was unwilling to wait.

2. Life360 (ASX:360): –19.4%

Life360’s headline growth was impressive: quarterly revenue rose 38% to US$159 million, subscription revenue increased 31%, and adjusted EBITDA climbed 53% to US$31.1 million. Monthly active users reached 102.4 million and paying circles grew 27% to 3.2 million. The sell-off reflected expectations rather than a collapsing business.

Net income fell 18%, the net margin contracted from 6% to 3%, hardware shipments dropped 18%, and full-year EBITDA guidance was merely maintained. After a strong valuation run, investors wanted a larger upgrade and clearer evidence that heavy investment in advertising, international expansion and artificial intelligence would generate additional earnings.

3. PEXA Group (ASX:PXA): –17.0%

PEXA reported a 7% increase in continuing-operations revenue and 12% EBITDA growth to $152 million, accompanied by a two-percentage-point margin expansion. Free cash flow increased 39%, suggesting the core Australian electronic-conveyancing platform remained highly profitable. Investors instead concentrated on management’s warning that property-transfer volumes could decline, alongside regulatory uncertainty surrounding the fees PEXA can charge.

The company is also continuing to invest heavily in its loss-making international expansion. Morningstar considered the market reaction excessive, arguing that structural transfer-volume assumptions had not materially changed, but the combination of softer near-term activity and regulatory risk overwhelmed the respectable headline numbers.

4. SEEK (ASX:SEK): –14.3%

SEEK produced solid FY26 figures, including 10% revenue growth to $1.20 billion, a 15% rise in EBITDA and 28% growth in adjusted earnings per share. It also lifted its fully franked annual dividend by 13% to a record 52 cents. Those achievements were overshadowed by falling paid job-ad volumes and cautious FY27 assumptions.

The statutory accounts included a $201 million loss from the SEEK Growth Fund and $377 million of significant items, making the headline result considerably less attractive. Investors were particularly concerned that economic weakness could limit volumes while the company continued investing in platform integration and artificial-intelligence products.

5. JB Hi-Fi (ASX:JBH): –12.3%

JB Hi-Fi’s full-year result was broadly respectable, with group sales rising 5% to $11.1 billion and underlying earnings per share increasing 6% to $4.48. The damage came from its current-trading update. Australian sales were almost flat during the June quarter and deteriorated further in July, while earnings in the core Australian electronics business fell 3.6%.

Housing-related categories were particularly weak as higher living costs and interest rates constrained household budgets. With JB Hi-Fi entering the season on a demanding valuation, an in-line historic result was not sufficient: the loss of sales momentum prompted investors to rapidly reduce their expectations for FY27.

Overall, the season showed that share prices react less to whether profits rose or fell than to the gap between results and expectations. Bapcor was rewarded for being less troubled than feared, while several fundamentally profitable companies were punished because their outlooks failed to justify elevated valuations.