A Grammy that John Lennon passed on in 1972 could fetch up to half a million at the Gotta Have Rock And Roll auction event this week.

Each member of the Beatles was given the Grammy Trustee Award recognising their contribution to music two years after they broke up, but Lennon wasn’t interested, telling the president of the Grammys at the time: ‘I’m not a Beatle anymore, you can keep it’.

The trophy’s inscription says: ‘National Academy Of Recording Artists And Sciences, National Trustees Awards 1972, To, The Beatles, John Lennon’.

It’s estimated that the winning bid could hit $US500,000, which works out to be about $760,000 in Aussie dollars.