Following the news of the recent discovery of Paul McCartney's 1961 Hofner bass that was stolen in 1972, comes another long lost Beatle guitar.

The 12-string Framus Hootenanny acoustic that John Lennon played on the sessions for The Beatles' Help! album film, as well as on other recordings, will be sold by Julien's Auctions on May 30th at the Hard Rock Cafe in New York.

The guitar ended up in the hands of Gordon Waller of Peter & Gordon who later gave it to their road managers. It was recently found in an attic in the UK after being unseen for over 50 years. Considered the most important Beatles guitar ever to come to market, it's expected to exceed its estimate of $600,000 - $800,000 set a new world record for the highest-selling Beatles guitar.

Lennon can be heard playing it on such songs as “Help!,” “You’ve Got to Hide Your Love Away,” “It’s Only Love,” “I’ve Just Seen a Face,” and "Girl," and George Harrison played it on "Norwegian Wood."

The guitar will come in its original, although beat-up, case, plus a copy of the book, The Beatles: Photographs From the Set of Help!

Darren Julien, co-founder and executive director of Julien’s Auctions says, “Finding this remarkable instrument is like finding a lost Rembrandt or Picasso, and it still looks and plays like a dream after having been preserved in an attic for more than 50 years..."

A previous John Lennon acoustic guitar sold for a record $2.4 million.

You can see the guitar on display now through April 29th at the Hard Rock Cafe in London's Piccadilly Circus, followed by the New York Hard Rock from May 22nd to the 28th.

The Music Icons auction also includes instruments and memorabilia once owned by Ringo Starr, U2 bassist Adam Clayton, Motley Crue guitarist Mick Mars, Michael Jackson, Tina Turner, The Who, Mark Knopfler, Phil Collins, Rod Stewart, Elton John and many others.