Image caption The album had an estimated sale price of $30,000 (£19,700)

A signed copy of The Beatles' album Sgt. Pepper's Lonely Hearts Club Band has been bought at auction in the US for $290,500 (£191,000).

The selling price far exceeded the $30,000 (£19,700) originally estimated for the rare LP record.

It was bought by an unnamed buyer from the Midwest, according to the Hollywood Reporter.

The sale also broke the previous record for a similar item, the entertainment magazine reported.

The UK Parlophone copy of the album includes a high gloss cover and vinyl gatefold sleeve. According to the Hollywood Reporter it was believed to have been autographed by all four Beatles near its release in June 1967.

The Dallas-based Heritage Auctions, which ran the sale, described it as "one of the most spectacular jewels in our auction".

Speaking before the sale, Beatles expert Perry Cox said: "With my being thoroughly immersed in Beatles collectibles for over 30 years, it takes something extraordinarily special to excite me, but I consider this to be one of the top two items of Beatles memorabilia I've ever seen - the other being a signed copy of Meet The Beatles."

The album features an official souvenir programme of the fourth annual Beatles Convention of Cavern Mecca, dated August 26, 1984.

The previous record for a signed Beatles album cover was $150,000, (£98,600) which was paid for a copy of the 1964 record, Meet the Beatles in 2011.