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				 The electric instrument, which is the original prototype for 
				the Les Paul Custom guitars made the Gibson Guitar Company, will 
				be sold by Guernsey's Auctions at the Arader Galleries on Feb. 
				19th. 
				 
				No pre-auction estimate, or reserve price, has been put on the 
				instrument. But some music experts believe it could exceed the 
				record auction price of $965,000 paid in 2013 for the guitar 
				owned and played by Bob Dylan at his first electric performance 
				at the Newport Folk Festival in 1965. 
				 
				"This instrument," said Guernsey's President Arlan Ettinger, "is 
				referred to as the grail, the Holy Grail, because it was the 
				first Les Paul guitar made by Mr. Les Paul that gave birth to 
				the thousands and thousands of instruments that bear that name 
				and that resemble this instrument." 
				
				
				  
				Paul, a pioneering musician and inventor, collaborated with 
				guitar makers Gibson, who approached him in the early 1950s to 
				build a true electric guitar. 
				 
				The solid body guitar was delivered to him in 1954 and 
				continuously modified as Paul sought to perfect its sound until 
				it was last used in 1976, when he gave it to his close friend 
				Tom Doyle. The black guitar with gold hardware features fine 
				inlays and bindings around the entire instrument. 
				 
				Ettinger said the instrument originally had different hardware 
				and attachments and the pickguard did not look the same. 
				 
				"But through the next 20 years it evolved as he was 
				experimenting to get new sounds and the maximum excitement of 
				what he created," he said. 
			
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			Many people, Ettinger added, suggest the guitar's electric sound 
			gave birth to rock and roll. 
			 
			The upgrades, modifications and changes on the "Black Beauty" set 
			the standard for other Les Paul guitars, which are owned by 
			musicians such as Eric Clapton, Jimmy Page, Neil Young and Jeff 
			Beck. 
			 
			The February sale will be a litmus test in the auction market for 
			vintage guitars. 
			 
			When a bidder bought Dylan's 1964 Fender Stratocaster for its record 
			price it was nearly double its pre-sale estimate and surpassed the 
			$959,500 paid in 2004 for Eric Clapton's Fender Stratocaster. 
			 
			Last year, however, an auction featuring 265 prized guitars from 
			California collector Hank Risan produced disappointing results. 
			 
			(Writing by Patricia Reaney; Editing by Eric Kelsey and Dan Grebler) 
			[© 2015 Thomson Reuters. All rights 
				reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published, 
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