The red Gibson Sg the rocker played during a gig in Cleveland, Ohio and later gifted to local DJ David Spero has gone on sale as part of Lelands.com's Spring 2014 Catalog Auction.
The axe featured a reserve price of $2,500 (£1,471), but it had already attracted bids of more than $3,327 (£1,957) as Wenn went to press.
The Gibson Sg also comes with a letter of authenticity from Spero, who went on to become the personal manager of Townshend's pal Joe Walsh.
The guitar isn't the only piece of The Who memorabilia up for grabs - music equipment believed to have been used by late drummer Keith Moon during the band's Quadrophenia Tour around 1973 and 1974 have also been placed under the hammer with a reserve of $1,000 (£588). That lot, featuring bronze timbale drums, a cymbal, two drum heads and Moon's drum stool, had yet to attract any bids at press time.
The auction ends on 25 July (14).