Colts owner Jim Irsay buys John Lennon's 'Sgt. Pepper' piano

Jim Irsay's most recent purchase is "guaranteed to raise a smile".

The Indianapolis Colts owner on Saturday proudly tweeted that he is the new owner of the piano used to compose songs for The Beatles' "Sgt. Pepper's Lonely Hearts Club Band" album.

The piano, which dates back to 1872 and resided in two homes where John Lennon lived in England, was auctioned on GottaHaveRockandRoll.com to a lone bidder and closed with the final bid of $575,000 after being estimated to sell for $800,000-$1.2 million.

"I'm elated to now be the steward of John's "Sgt. Pepper" upright piano. It's a responsibility I take seriously, with future generations in mind," Irsay wrote on Twitter, adding hashtags #GettingThemBackTogether and #Beatles.

The piano was said to be Lennon's favourite and was used to compose other notable songs, including "A Day in the Life" and "Lucy in the Sky with Diamonds".

Irsay, an avid Beatles fan, owns several other instruments used by the band. He bought a Gibson SG electric guitar used by George Harrison for an undisclosed amount in 2013 and purchased Ringo Starr's drum set for $1.75million in 2015.

He also owns guitars previously owned by Prince, Bob Dylan and Grateful Dead frontman Jerry Garcia.

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