Bob Dylan's Newport Folk Festival guitar will be sold

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The Fender Stratocaster Bob Dylan played when he "went electric" at the 1965 Newport Folk Festival will be auctioned.

Dawn Peterson had the guitar in her family for nearly 50 years, and it was authenticated last year on the PBS show "History Detectives." Rolling Stone reports Peterson recently settled a legal dispute with Dylan over who owned the guitar.

Terms of that settlement are confidential.

Peterson's father was a private pilot, and Dylan left the guitar on his plane. Peterson says she heard her father tried to return it and got no response, and she's heard Dylan's management said they'd just ask Fender for another guitar.

Peterson is not sure how she'll auction the guitar yet. She says "History Detectives" felt it was worth $500,000 but she thinks it's worth more.

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