McCartney's first guitar sold, announces plan for Latin album

Paul McCartney's first guitar sold for $614,000 at an auction to an American Collector, according to Reuters.

"This is such an important piece of rock history, and I am an extremely happy man tonight," buyer Craig Jackson said in a statement and reported by Reuters. "Without this guitar The Beatles may never have existed, and it is a fantastic acquisition."

The instrument was sold for three times the amount the auction house thought the item would fetch.

In other McCartney news, the singer announced plans to release a new album in Latin later this year.

"Ecce Cor Muem," or "Behold My Heart," will be McCartney's fourth classical album and will be in stores Sept. 26 after eight years of work, according to Reuters.

"As Latin is known and sung by choirs all over the world, I felt it would be appropriate to use at times during the piece," he said in a statement Monday.