The Beatles were told “they had no future in show business” when their demo tape was rejected by a record company executive. Half a century later, the historic recording, which has never been released, is due to go under the hammer.
The decision by a Decca Records executive proved to be one of the worst ever made in music history, the Telegraph reported, as within a few months The Beatles signed with EMI taking the world by storm.
It’s the first time the 10-track demo the band recorded at Decca’s London studios on New Year’s Day in 1962, has been made public.
The recording reportedly features such titles as Money (That’s What I Want), Like Dreamers Do, Take Good Care of my Baby, Three Cool Cats, Love of the Loved, Memphis and Crying Waiting Hoping.
The recording spotlights three members of the legendary Fab Four, as soon after signing with EMI the Beatles’ original drummer Pete Best was replaced by Ringo Starr.
The Beatles’ manager, Brian Epstein gave the tape to an executive associated with EMI. In 2002, it was sold to a private collector who is now auctioning it off with a pre-sale estimate of $46,000, according to the Telegraph.