An electric guitar played by The Beatles stars John Lennon and George Harrison is set to fetch as much as $300,000 (£188,000) at a New York auction in May (13).

The custom-built Vox instrument, used by the late rockers at the height of the Fab Four's heyday, will be the main attraction at Julien's Auctions forthcoming Music Icons sale.

The guitar, handed to electronics engineer Yanni 'Magic Alex' Mardas as a gift in 1967, was strummed by Harrison as he rehearsed the 1967 song I Am The Walrus, while Lennon played it during a video session for Hello, Goodbye.

Martin Nolan, executive director of Julien's Auctions, tells Reuters the guitar is "one of the most historical pieces of music memorabilia" ever to go under the hammer at the auction house.

The sale, scheduled for 18 May (13), will also include an autographed copy of the band's 1963 debut album Please Please Me, which is expected to pull in up to $50,000 (£31,250), as well as costumes and memorabilia from Michael Jackson, Elvis Presley and David Bowie.