London, November 23 (ANI): The Beatles' audition tape that was infamously rejected by a record company boss - because he thought guitar groups were 'on the way out' - is set to go under the hammer after 50 years.
The group - once known as The Silver Beatles - were also told 'they had no future in showbusiness' following the 1962 audition, during which they recorded a ten-track demo tape.
The decision by a Decca Records' executive still stands as one of the worst judgement calls made in music history.
Within months John, Paul, George and original drummer Pete Best had signed with EMI and went on to become the greatest band of all time.
The master tape, recorded at Decca's London studios on New Year's Day 1962, is expected to fetch 30,000 pounds at the Fame Bureau auction in Mayfair next Tuesday, the Daily Express reported. (ANI)