A cover shoot in which the faces of 40 Capitol Record executives are featured and produced for a record company party, is on the auction block at Heritage Auctions. It's believed only 40-50 copies were ever produced and the UK's Record Collector magazine ranked it #1 on a list of the world's most expensive record covers. The 1967 cover is expected to bring $15,000+.
Here is the description that they give: Internet Bidding Ends: Aug 9, 2013 at 10:00 PM CT - Followed By a Live Signature Floor Session on Aug 10, 2013 "Beatles Ultra Rare Album Cover Sgt. Pepper's Lonely Hearts Club Band (Capitol SMAS 2653, 1967). Most collectors think of the censored "butcher cover" when the topic of rare Beatles album covers comes up. But this super-rare version featuring 40 Capitol Records executives' faces rather than the original collage of celebrities is much more scarce - it's believed only 40-50 copies were ever produced! They were distributed at a Capitol party, essentially one for each of the executives pictured! In a special poll conducted for the December, 2011 issue of the UK's Record Collector this cover was ranked #1 on a list of the world's most expensive record covers, valued at approximately £70,000 or more than $100,000. Noted Beatles expert Perry Cox describes it as "among the rarest and most interesting artifacts produced during the original era of the Beatles." "The custom cover came out in late 1967 after the initial pressings earlier that year, and bears the "All Rights Reserved ..." print at the the bottom right back cover and "NEMS Ent ..." at the lower right back cover. "With a Little Help From My Friends" is printed correctly on the record, another marker of the later 1967 pressing." "This particular copy belonged to Marvin Beisel, Capitol's national sales director, and one of the executives pictured on the cover. (Capitol SMAS 2653, 1967) Condition: EX 7 (cover)/ EX 7 (disc). LOA from Perry Cox. Estimate: $15,000 - up." Check out the auction HERE [Source: Collecting Vinyl Records]