Memorabilia, used guitars and other music equipment owned by the late guitar legend Les Paul has been sold at auction for a hefty price.

The two-day auction, which took place at Julien's Auctions in Beverly Hills, California, raised nearly $5 million for the Les Paul Foundation, which benefits music education and innovation.

The Associated Press reports that the items that fetched the most money included a 1951 Fender No-Caster, which sold for $216,000, a 1982 Gibson Les Paul for $180,000 and a 1940s Epiphone Zephyr for $144,000. The items commanded a much higher price than their estimated worth. For instance, the Fender No-Caster was estimated to be valued between $40,000 and $60,000.

Other items included a piano, recording equipment, research notes, sunglasses and Paul's longtime tour rig.

Paul, who died in 2009 at the age of 94, is known for revolutionizing the sound of the electric guitar, as well as the technology behind modern day sound recording. He developed one of the first solid-body electric guitars, which were released commercially in 1952 as the Gibson Les Paul.

The auction was held on what would have been Paul's 97th birthday.