Sotheby's puts music memorabilia under the hammer

It was one of the flagship items of Sotheby's pop and rock auction on Tuesday (29.09.15) - a contract between The Beatles and their first manager Brian Epstein, who started working with the band in 1961. And its hefty sale price sees it join an impressive list of prized memorabilia auctioned off through 2015, including Don McLean's original manuscript for "American Pie," which sold at auction in April for 1.1 million euros ($1.2 million).

However, many items failed to meet their reserve prices at the Sotheby's auction - amongst them ABBA's grand piano, a signed Beatles album, and a collection of original Andy Warhol designed album covers.

Still, the disappointing results may be corrected in December when another auction takes place in New York, featuring items such as Janis Joplin's psychedelic-painted Porsche, which is expected sell for around $400,000 (350,000 euro).