SIR Paul McCartney has handed a hefty reward to a family who returned his beloved bass guitar 50 years after it was stolen.
The Beatle, 81, has also sent his thanks to Cathy Guest, who found the four-string Höfner instrument — worth an estimated £10million — in her loft.
It comes after weeks of negotiations between Cathy, 52, and his music publishing company MPL.
We exclusively revealed last month that the Höfner 500/1 electric bass, Macca’s favourite guitar which he bought for £30 in Hamburg in 1961, had been returned to him.
A source said: “They have now agreed a deal and the family have been given a very significant thank-you fee.
“Sir Paul has also expressed his gratitude to Cathy and the family.”
Mum-of-two Cathy, of Hastings, East Sussex, said: “I can’t talk about the amount, but I won’t be moving or doing anything to change my life. My lifestyle won’t be changing.”
After the guitar’s theft in West London, it was discovered the thief sold it to a pub landlord for “not much money plus a few free pints”.
It was later given to Cathy’s late husband by his brother.
McCartney has finally got his guitar back. He confirmed the news in a statement posted on his website which read: "“Following the launch of ... [The] Lost Bass Project, Paul’s 1961 Hofner 500/1 bass guitar, which was stolen in 1972, has been returned.
"The guitar has been authenticated by Hofner and Paul is incredibly grateful to all those involved."
The search was launched in 2018 but was reinvigorated in 2023 when it gained extra publicity.
A message posted on The Lost Bass Project's website revealed the instrument will need some repairs but is in mostly good condition.
The statement explained: "Finally, after so much searching and investigation, we have Paul’s Lost Bass back with him. Can you imagine how excited Paul was when he heard the news!
"The bass is complete and still with its original case. It will need some repairs to make it playable again, but a team of professionals can easily carry these out."
A global search has been under way to find Sir Paul McCartney's missing bass guitar which he bought for £30 and could reportedly now be worth more than £10m.
How the violin bass became Macca's number one through the Beatles years and beyond - All the Beatles have been put under the microscope again and again over the years. This scrutiny has included, on countless occasions, McCartney and his Höfner basses. From this has come numerous legends and myths, many of which are now copied and stated as facts simply because they have been around for years. (Excerpt from Guitarworld)
The Hofner 500/1 electric bass was purchased by Beatles star McCartney from a shop in Hamburg in 1961 and it was reportedly his "favourite".
