The Beatles were one of the most iconic rock bands of the 1960s. Often referred to as the "Fab Four," the band consisted of John Lennon, Paul McCartney, Ringo Starr and George Harrison.

The legendary English band is responsible for 28 studio albums, 11 video albums, 54 compilation albums, and 6 live albums! Back in 1967, The Beatles released their 8th studio album with Sgt. Pepper's Lonely Hearts Club Band. And naturally the album was an instant hit around the world. Seriously, the album spent 15 weeks in the Number One spot in the United States and 27 weeks as the Number One spot in England.

Fast forward to present day where the 50th Anniversary of the release of Sgt. Pepper’s Lonely Hearts Club Band will be celebrated in epic fashion. Paddle8 is an online auction house that is hosting an auction of Beatles memorabilia this whole week.

One of the amazing items that you can bid on is the original cutout of The Beatles' Sgt. Pepper's Lonely Hearts Club Band Album! The album cover was designed by Peter Blake and Jann Haworth after Paul McCartney gave them an ink drawing he had done.

The cover is also very iconic as is depicts The Beatles dressed in costume as the Sgt. Pepper's Lonely Hearts Club Band along with cardboard cutouts of famous people. And how much did Blake and Haworth charge The Beatles for this cover - nearly £3,000 which was extremely high as most covers back then only cost around £50.

So how much is the original cutout going for nowadays? So far, the starting bid price is $48,000. But the price is expected to go up as the estimated sale price is between $50,000 and $70,000! So go check out the auction here as it ends June 14th at 1:05pm ET.