Auction raises $2 million for hurricane victims

updated 7:00 p.m. ET April 22, 2007

NEW YORK - A fundraising 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 Jimi 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.

Other highlights included a pair of sunglasses donated by Bono that went for $24,000, a guitar from Bob Dylan that sold for $192,000, and a guitar from Paul McCartney that brought in $81,600.

The event Saturday night at the Hard Rock Cafe was so popular that bidding went on for three hours after the scheduled conclusion, Julien said.

The final amount going to the charity had not been tallied yet, he said. For some items, the total selling price goes to Music Rising, while other items designated a portion of the proceeds.

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