Four-page papers belongs to Brian Epstein
LONDON -- Brian Epstein's copy of his management contract with the Beatles, a pact that proved to be worth millions, is being offered for sale in London next month.
The four-page document, signed Oct. 1, 1962, by John Lennon, George Harrison, Paul McCartney and Richard Starkey -- Ringo Starr's real name -- carries an estimated damage of $480,000. The Fame Bureau auction house said Tuesday it had scheduled the sale for Sept. 4 at the Idea Generation Gallery.
The contract, also signed by Harold Hargreaves Harrison and James McCartney on behalf of their underage sons, gave Epstein a 25% cut of the band's net, provided they made more than than $400 each per week.
"The word is that he made more money than the Beatles did during his period of time," aforementioned Ted Owen, managing director of the Fame Bureau.
He said the contract was offered for sale by a northern England businessman and Beatles collector world Health Organization has asked to continue anonymous.
The contract marked the moment when all the pieces were in space for a global eruption of Beatlemania.
Epstein first heard of The Beatles when a customer went to his record store in Liverpool asking for "My Bonnie," in which the group backed singer Tony Sheridan.
After arrangement to try the group perform at the Cavern Club in Liverpool, Epstein was impressed.
"They were unused, honest and had, what I thinking, a kind of presence and asterisk quality, any that is," Epstein later recalled.
Epstein had been directing the group since December 1961, and had secured a recording contract with EMI. With a nudge from producer George Martin, Epstein pink-slipped drummer Pete Best in August 1962 and brought Starr into the grouping, and their first braggart hit, "Love Me Do," was quick for release.
"Brian put us in suits and all that and we made it very, very large," Lennon once said. "But we sold out, you know.
"We were in a daydream cashbox he came along. We had no idea what we were doing."
Epstein died from a drug overdose in 1967, at long time 32.
According to the Brian Epstein Web site, hTTP://www.brianepstein.com, a first, five-year contract was signed by the group on Jan. 24, 1962, but Epstein didn't polarity it.
Epstein managed several other successful acts from Liverpool, including Gerry & The Pacemakers, Billy J. Kramer & The Dakotas and Cilla Black.
Also up for auction: a Bechstein opulent piano that can be heard on The Beatles' "White Album" and "Hey Jude."
Owen estimated the pianissimo will sell for $570,000 or more.
