Fund-Raiser Nets $2M on Music Memorabilia

Apr 23, 01:39 PM

Current Headlines: A fund-raising auction of music memorabilia from Jimi Hendrix, The Edge, Bono, Paul McCartney and others smashed expectations and brought in $2.4 million, some of which will go to a charity that replaces musical equipment lost to hurricanes Katrina and Rita.

"It was the best sale we've ever done," said Darren Julien, president and CEO of Julien's Auctions, which ran the event benefiting Music Rising.

A guitar owned by Hendrix was sold for $480,000.

Music Rising was co-founded by The Edge, the U2 guitarist who donated his favorite instrument, a 1975 Gibson Les Paul that he has played for years. The guitar had been expected to bring $60,000 to $80,000, but it went for $288,000, including the commission.

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