Beatles' contract with Brian Epstein up for auction

LONDON, Sept. 25 (UPI) -- The Beatles' 1962 contract making Brian Epstein their manager will go up for auction at Sotheby's, London on Sept. 29. The document is expected to fetch between $467,000 and $780,000, the auction house announced.

The contract signed Oct. 1, 1962 by Epstein, the four Beatles and the fathers of Paul McCartney and George Harrison, because both Beatles were under age 21 at the time, was signed in Epstein's office just before the release of the band's first single "Love Me Do." A previous contract from earlier that year that included then-drummer Pete Best was ended when Best was replaced by Ringo Starr. The band claimed to momentarily split up and re-form, creating the new and final contract.

The agreement named Epstein manager for five years, making him responsible for advertising, publicity, setting up live and studio performances, and as adviser on the band's presentation, all of which paid him a 10 percent commission on the band's earnings if they earned up to 400 pounds a week, 20 percent for earnings between 400 pounds and 800 pounds, and 25 percent from earnings above that.

Among other items at the highly touted auction will be a working draft copy of Bob Dylan's "A Hard Rain's Gonna Fall" lyrics, typed and handwritten by Dylan, and a bass owned by Jack Bruce of Cream.